Traditional buying methods can drag on for months, but with auctions, you can have the keys to your investment in as little as 28 days. If you act smart, you could go from winning an auction to securing your first tenant within 60 days. Here’s how to make it happen.

Step 1: Find the Right Property (Days 1-14)

The first step is identifying the right property. At Smart Auction UK, we list a wide range of properties, including tenanted homes that already have paying tenants—allowing you to start earning immediately. If you're buying an empty property, location is key. Look for high-demand rental areas, good transport links, and nearby amenities.

Check the legal pack before bidding. This will include key details like lease information, ground rent, and any restrictions that could impact your ability to rent the property. If you’re unsure, get a solicitor to review it before auction day.

Step 2: Secure Your Finance (Days 1-14)

Unlike traditional property purchases, auction properties must be paid for quickly—usually within 28 days of winning the bid. If you need financing, have it lined up before the auction. Bridging loans are a popular option for auction buyers, as they offer fast funding to complete the purchase. Some investors also use cash or a combination of cash and mortgage finance.

If you’re buying a tenanted property, some lenders will consider the rental income when assessing your mortgage application, potentially making financing easier.

Step 3: Win the Auction and Complete the Purchase (Days 15-28)

Auction day is where preparation pays off. Set your maximum bid in advance and don’t get carried away in the heat of the moment. If your bid is successful, you’ll pay a deposit (usually 10%) immediately, with the remaining balance due within 28 days.

Smart Auction UK makes the process easy by providing a free estate agent, floor plans, and full marketing—all at no cost to the seller. This ensures that properties are well-prepared for buyers like you.

Step 4: Get the Property Rental-Ready (Days 29-45)

If the property is already tenanted, this step is easy—simply introduce yourself to the existing tenants and continue their lease. If it’s vacant, you’ll need to get it ready for the rental market.

Focus on quick, cost-effective improvements:

• A deep clean and fresh coat of paint can make a big difference.
• Ensure compliance with rental regulations, including gas and electrical safety checks.
• Fix any maintenance issues that could delay tenants moving in.

Hiring a letting agent at this stage can help speed up the process. They can advise on rental prices, tenant demand, and handle the paperwork for you.

Step 5: Market the Property and Secure a Tenant (Days 46-60)

With the property ready, it’s time to market it. High-quality photos, clear descriptions, and competitive pricing will attract interest quickly. If you’re working with a letting agent, they’ll handle viewings and tenant applications.

To speed up the process, consider:

• Offering the property furnished, as this can attract tenants faster.
• Being flexible with move-in dates.
• Advertising on multiple platforms for maximum exposure.

Once you’ve chosen a tenant, conduct reference checks and finalise the tenancy agreement. At this point, you’re ready to hand over the keys and start collecting rent—completing the process in under 60 days.

Or, simply buy a property that is already tenanted!

Why Auctions Are Perfect for Fast-Track Investment

Traditional property purchases can take months, with lengthy chains, mortgage delays, and back-and-forth negotiations. Auctions cut through the delays, offering a straightforward way to buy and rent out properties quickly.

At Smart Auction UK, we specialise in helping investors find the right properties at competitive prices, whether you’re a first-time buyer or building a portfolio. Many of our listings include tenanted properties, meaning you can start earning rental income from day one—without the hassle of finding tenants yourself.

Ready to start your property investment journey? Browse our latest auction listings and take the first step towards securing your next rental property today.

Have a look at our properties for sale here. You can also learn how we can sell property for free!

Got a property to sell? Call us or send us an enquiry.