How do I sell a rented apartment?

Do you own a rented property and are thinking of selling it? Are you wondering how to sell an occupied apartment and to whom? 

When you sell an occupied property, you have certain obligations as the seller. It's important to know what you need to do to sell an occupied property.

In many Belgian cities, there is a specific property market for rented accommodation, offering attractive opportunities for profitability.

We'll give you all the information and advice you need to help you move forward, and answer any questions a buyer interested in an occupied property might have.

How do I sell a rented apartment?

When an investor is considering buying a property with the aim of renting it out, profitability is the key element they evaluate to ensure they get an attractive financial investment.
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If you turn to banks or investment funds, annual return proposals are usually around 1% to 1.5%.
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Some investors turn to real estate, which offers a diversity of properties and several advantages, but also entails risks that it is essential to analyze. The calculations to be made are totally different from those involved in buying a primary or secondary residence.
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The main question for investors is how much money they can earn each year for the amount invested. In real estate terms, this is known as "rental profitability". Evaluating the profitability of an investment involves taking into account the risk involved in renting, and calculating the various forms of profitability (net, gross, etc.).

Calculating gross and net rental profitability

Calculating rental profitability is very simple, and involves taking into account annual rental income and relating it to the purchase cost of the property.
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Here are the elements needed to perform this calculation:

• Monthly rent excluding charges.
• The purchase price of the property.
• The amount of notary fees and costs associated with the purchase.
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To calculate net profitability, all annual ancillary costs must be deducted from annual rental income. These include financing costs, property withholding tax, co-ownership charges not recoverable from the tenant, various insurances (vacancy insurance, unpaid rent, etc.) and maintenance costs.

The formula for calculating net rental yield before tax is as follows:

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Net rental yield before tax = (annual rent - service charges and miscellaneous expenses) / total purchase price x 100 = net yield percentage.
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Your obligations as a seller

As the seller of a property occupied by a tenant, you must inform the tenant of the situation without giving him or her any notice of departure. No notice period is applicable, as the tenant remains in the premises until the end of the lease and has no right of priority over the purchase.

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The rental contract with the existing tenant continues until the date originally agreed, under the same conditions. While the property is being put up for sale, you must keep the tenant informed, and he is obliged to allow visits to the house or apartment. The only change concerns the new owner's bank details, which will be communicated at the time of final signature at the notary's office.