How to: selling property with tenants

Home values are improving in many areas around the US and perhaps you are now considering trying to sell while things are on the upswing. The only problem is, you have tenants and want to list while they are still living there because you can’t afford to keep your property vacant for months before a sale.

 

The good news is, it can be done.  Just make sure you follow a few bits of advice so selling your property can go as smoothly as possible for you, your tenants, and potential buyers.

 

The first step is knowing the laws for your jurisdiction, as they are different everywhere. How many days must you inform tenant of the home being put up for sale? Does the tenant have a right to refusal during their lease term?

 

Assuming you’ve done your homework, then know that having open communication with the tenants should always yield positive results. For example, make sure you give them at least 24 hours notice before a showing.  You don’t want to be in violation of your lease in the haste of wanting  a sale. Also, if the tenant isn’t prepared for a showing then it’s likely the property will not be shown in its best light. That will leave both potential buyers and your current tenants with a bad taste in their mouth.

 

For this and more information about selling a rental property with tenants, please visit our website at http://www.alwaysscreen.com