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Selling Your Investment Property – With or Without Tenants?

8 Feb 2016 Richmond 0 Comment

If you’re thinking about selling an investment property then you might be wondering whether or not it’s a good idea to keep your tenants in place.

Selling a Vacant Property

Selling the property with no tenants can be a good idea if the tenants have been difficult in the past or may not present the house suitable for a sale (clutter, cooking smells etc).

Tenants are required to provide a sales agents with ‘reasonable access’ to a property for sale. However some tenants can be difficult and uncooperative during a sales period and can make it hard to show potential purchasers through.

Most tenants are understanding and will make it as easy as possible for the sales agents to sell the home quickly. However if there has been evidence of difficult situations arising from these tenants, then it might a good idea to wait for the lease to finish before proceeding with the sale of your investment property.

Selling a Tenanted Property

If you have good and reliable tenants that present the property in a clean and tidy matter, then the property could benefit from being presented better than if vacant.

Keeping your tenants in your property during the sale period means you will still maintain a rental income and can remove some time pressure for the sale, ensuring you achieve the highest price.

Purchasers will vary in preference for buying a tenanted or untenanted house and therefore every sale situation is different. Best to involve your property manager and sales agent in making your decision to sell your investment property with or without tenants. 

If you’re thinking about selling an investment property then you might be wondering whether or not it’s a good idea to keep your tenants in place.

Selling a Vacant Property

Selling the property with no tenants can be a good idea if the tenants have been difficult in the past or may not present the house suitable for a sale (clutter, cooking smells etc).

Tenants are required to provide a sales agents with ‘reasonable access’ to a property for sale. However some tenants can be difficult and uncooperative during a sales period and can make it hard to show potential purchasers through.

Most tenants are understanding and will make it as easy as possible for the sales agents to sell the home quickly. However if there has been evidence of difficult situations arising from these tenants, then it might a good idea to wait for the lease to finish before proceeding with the sale of your investment property.

Selling a Tenanted Property

If you have good and reliable tenants that present the property in a clean and tidy matter, then the property could benefit from being presented better than if vacant.

Keeping your tenants in your property during the sale period means you will still maintain a rental income and can remove some time pressure for the sale, ensuring you achieve the highest price.

Purchasers will vary in preference for buying a tenanted or untenanted house and therefore every sale situation is different. Best to involve your property manager and sales agent in making your decision to sell your investment property with or without tenants. 

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