Great tenant for 12 years but I need to sell?

Financially, I would still recommend you go to the section 21 route.

With no tenant, you can get close to your asking price

What you need to do is look at this in the round. Say you were running a restaurant, after you retired would you invite your regular customers to your house for a free meal?

There's your answer. Serve s21, a first time buyer might want the property. Why restrict your market. Your buyer won't care. If you feel bad offer your tenant a subsidy on his new rent for a year, if you don't need to get an order.

You have no idea how much you will need in retirement, how long you will live, will you need to pay for care. If you do your tenants won't be offering to help you

Ask the tenant how they voted at the General Election…

Labour. They are getting what they voted for.

Conservative. They are getting what they voted.

Reform. Give them a break, at least they tried.

@Southern Boyuk
I am interested in what you said:
'I’m looking at a creative different way seeing what mortgage they can get and then taking a private loan out with myself obviously having that protected.
There’s also the option of Your tenants buying significant share in the property'
I have been trying to explore these options myself. The first is something my family did 50 years ago when we sold our farm - about half the land went to a neighbour who could not raise the money so we agreed a private mortgage with him. The paperwork was exactly the same as if we were a bank and we therefore had complete security until the mortgage was repaid - which was done ahead of time.
The second option of shared ownership is something I tried to explore but drew a complete blank - I can't find anyone with experience or any solicitors who have actually done this.
Have you looked into these options in detail or are you just thinking about them?

Hello There,

Sell the property as it is and move on. If you care about the tenant that much, then don't sell the property. I advise you to sell the property at the best price and enjoy your retirement plan. Do not enter into any rent reduction negotiations with the new landlord. In long terms, it is better for the tenants to get evicted and apply social housing with low rent. 

Hello Doug,
I've been in a similar situation whilst selling my properties. Initially was able to sell the property with my best tenant with her in situ (through a "specialist" agency who claim to get the best price and the fastest sale). Our rent was always low, like you I reward good tenants. Unfortunately, they advised she would have to pay higher rent for the sale to go through and she agreed. After many months of being messed about and jumping through the buyer's hoops they pulled out anyway. We got no recompense from the agent because they hadn't taken a deposit from them. Fast forward, I put it up with a local reputable high street agent and got £40K more but they wanted vacant possession. Tenant completely understood and decided she couldn't go through this again so wanted to get on the council list (plus couldn't afford other private rentals). She's brilliant and I've helped her every way I can with references etc. but ultimately had to serve a S21. Understandably, she's going nowhere until she finds a decent property to move to with her daughter. That sale has now fallen through because of the waiting. I will have to remarket once it's empty. I've toyed with keeping her but I just want out of the game and that's what's important to me. You have to decide what's more important for you. From personal experience, despite what property 118 say, I would absolutely avoid the agency they have recommended unless you get a solicitor to check their contract before signing! There are more honest ways to sell....

My question is, what are the local rents going for?? I’ve just had a tenant give notice. They leave on Monday. The rent was £575. The lettings agent said on that road and in that area the same houses (albeit done up to a high standard) are now £800-1000!!!! Unbelievable!! The problem with falling significantly behind local rents is that if /when tenants look around to move there can be a big jump… unless they can save (which I hope mine did) and then buy but that rarely happens.

The cheapest option (and one your conscience can live with) is probably offer THEM £3k… help them move out and have their rent sorted for the next year … and you can then sell for a full price and you’re not knocking off a significant sum because £68k is beyond cheeky. And that’s only if you can’t sell with tenants in situ. 12 years is a good run for you and them.

I see a lot of tenants in situ for sale. I wouldn’t touch it no matter how well recommended the buyer says they are!! And if it’s your nest egg, and you’ve been good to them, you want to get a good price because you deserve it.

Yes that's a very generous offer. He should make it payable when the house sells though (with some other stipulations)

I think you need to keep it simple. Issue S21. Offer a refund of the last 3 months rent at completion/move out. Offer a set amount (£20-25) per viewing to compensate for the inconvenience, if viewings take place while in-situ.

You are not a charity. Best advice is to end tenancy now while you can.
Then sell property vacant.
It’s this type of government interference that has caused a lack of good rental property and escalating rental costs.