SELLING A TENANTED PROPERTY

If you get a tenant off-side, it can cause unnecessary challenges and possibly inhibit your ability to quickly sell the property.

If you are looking to sell your investment property, it is important to have an open communication line with the tenant/s during the sale process, as they can often feel like their privacy and quiet enjoyment can be invaded.

For this reason, it is important that your managing agent is always the first to be notified of your intention to sell the property. The managing agent will have a relationship with the tenant and will be in a better position to negotiate inspections and open houses on your behalf.

Just a thought…
If a tenant is becoming difficult with inspection times, you may want to consider offering them an incentive, such as a set dollar reward if the property is sold within a defined period of time as compensation for the disruption to their home and possibly their day-to day activities and privacy. Alternatively, a gift at the start of the campaign when they are notified the property is going on the market is always a good way to have them wanting to assist you from the onset. This may motivate the tenant to take extra care in the presentation of the property and allow more frequent inspections.

Another option you could also consider is reducing your tenants weekly rent for a short period of time, as a means to compensate your tenant for the disruption that the sale of a tenanted property can bring.

Being a tenant in an investment property that is on the market for sale can be unsettling and we like to think that as a managing agent we take the time to care for the needs of our landlords and tenants, as quite often when everyone is working together, that is when we can achieve the best possible outcome for all parties.