Valuations For Life Tenants
Life Tenancies Factors Taken Into Consideration
When a valuation is carried out on a life tenancy several factors are taken into consideration. i.e. Property Value and location, age of life tenant, and condition of property. With these factors taken into consideration we will offer you a percentage of your properties vacant value. The most important factor is the age of the tenant. A property that is occupied by a 90 year old male will be worth considerably more than a property with a male tenant of 6o years.
Valuation Process – No Access Required
As part of our valuation process it is not necessary for us to met your tenant unless the property is substantial or the accommodation is not obvious from the outside. The reasin we do not insist on internal viewings is because many landlords do not want to disturb their tenants who can sometimes be quite elderly and are unwilling to allow viewings on their homes. We appreciate this and therefore are prepared to take a view on most properties that are offered to us.
Single Tenants – Multiple Tenants
A property that is occupied by a single tenant will also be more valuable than a property that is occupied by a couple. Generally speaking a property that is occupied by a couple will not be attractive unless the price has been set to take this into consideration. These properties can’t be sold until the property is vacant and properties with multiple tenants will be occupied for longer.