{"id":11376,"date":"2025-02-10T15:23:23","date_gmt":"2025-02-10T15:23:23","guid":{"rendered":"https:\/\/www.craneandco.co.uk\/pages\/?p=11376"},"modified":"2025-02-10T15:23:23","modified_gmt":"2025-02-10T15:23:23","slug":"buying-an-ex-rental-property-tips-for-homebuyers","status":"publish","type":"post","link":"https:\/\/www.craneandco.co.uk\/pages\/buying-an-ex-rental-property-tips-for-homebuyers\/","title":{"rendered":"Buying an Ex-Rental Property: Tips for Homebuyers"},"content":{"rendered":"

Buying a property that was previously a rental can be well worth considering. Here\u2019s what you need to know.<\/strong><\/span><\/h3>\n

Firstly, why buy an ex-rental property?<\/strong><\/span><\/h3>\n

An ex-rental can be an attractive property proposition for many reasons. Let\u2019s take a look at them.<\/p>\n

Chain free<\/strong><\/span><\/h3>\n

Buying an ex-rental can be a quick process. There\u2019s no waiting for the seller to find somewhere else to buy.<\/p>\n

Competitively priced<\/strong><\/span><\/h3>\n

Former rental properties can be attractively priced. When landlords put their buy-to-let on the market, they\u2019re often looking for a quick sale.<\/p>\n

Well maintained<\/strong><\/span><\/h3>\n

Rental laws mean boilers, gas appliances and electrical systems should have been regularly serviced and safety checked. Also, they often have newish kitchens and bathrooms. (However, there can be exceptions to this. Some ex-rentals offer fixer-upper opportunities.)<\/p>\n

Blank canvas<\/strong><\/span><\/h3>\n

Former rentals usually have neutral d\u00e9cor, meaning that you can easily put your own stamp on the property.<\/p>\n

What to look for when buying an ex-rental<\/strong><\/span><\/h3>\n

Is it tenanted?<\/strong><\/span><\/h3>\n

If you\u2019re planning to live in the property, knowing when you could move in is essential. This is known as vacant possession in legal terms. It is especially important to check if a tenant is still living there as they will likely have a right to stay until the tenancy ends.<\/p>\n

Lending criteria<\/strong><\/span><\/h3>\n

Check the mortgage situation. In the case of flats in blocks, where many properties are rentals, not all mortgage lenders will be willing to lend.<\/p>\n

What\u2019s included?<\/strong><\/span><\/h3>\n

Be clear about what\u2019s included in the sale. Fixtures, fittings and appliances could belong to the landlord, tenant or ex-tenant.<\/p>\n

Security<\/strong><\/span><\/h3>\n

If you buy the property, changing the locks and alarm codes on moving-in day is advisable. Many people could have keys if the property has been a rental for some time.<\/p>\n

Other than that, make the same checks as with any other property. Does it meet your needs? Is it within your budget? Can you add value?<\/p>\n

If you\u2019re looking for somewhere to buy, why not contact us to see what we have available? If you also have somewhere to sell, we can advise you on that too. Call or message us today.<\/p>\n

Do you know someone who would find these tips useful? If so, please do share this article with them.<\/strong><\/span><\/h3>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Buying a property that was previously a rental can be well worth considering. Here\u2019s what you need to know. Firstly, why buy an ex-rental property? An ex-rental can be an attractive property proposition for many reasons. Let\u2019s take a look at them. Chain free Buying an ex-rental can be a quick process. There\u2019s no waiting […]<\/p>\n","protected":false},"author":3,"featured_media":11377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[12,2,1],"tags":[8,25],"class_list":["post-11376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-making-the-most-of-your-home","category-moving-home-advice-and-guidance","tag-advice","tag-jerry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/11376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/comments?post=11376"}],"version-history":[{"count":1,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/11376\/revisions"}],"predecessor-version":[{"id":11378,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/11376\/revisions\/11378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/media\/11377"}],"wp:attachment":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/media?parent=11376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/categories?post=11376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/tags?post=11376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}