While selling a property with tenants is a dream come true for investors, it can be tricky if you want the tenants out.
If you're looking to sell your property but have tenants living in it, Andrew has some tips that will make it easier to sell.
- Each state has different rules, so make sure that you check according to where you live. When ever you are selling a house with renters, there are bound to be regulations.
- Arrange viewings early. You cant just show up any time to inspect a house when tenants are involved. Plan these visits early so that you have enough time.
- Try to be flexible. While landlords have the right to expect to show their property at its best, tenants also have the right to refuse to have their personal property photographed or videoed. Try to take these videos and photos when the house is empty, otherwise try to avoid personal areas like the bedroom or bathroom.
- In most cases, if the tenants have a fixed term contract then they have to be allowed to stay to the end of it - even if the new owner want to move in. This will need to be factored into the contract of sale.
- Throughout the sale process, keep your reneters well informed about the process and respect that while they are still there it's not just a house, it's there home.
Don't miss Andrew, Shaynna and Charlie live on stage as they reveal their best advice on renovating, buying and selling! Click here to buy your tickets now!