Having a tenant in a house you are looking to sell can go one of two ways: On one hand, you can have an uncooperative tenant who will make it impossible to sell your place; on the other hand, they can be a good ally in the sales process if they are willing to help you out. In the end, however, the decision is in your hands on how you intend to sell your home: while the tenant is still there, or once they are gone.
For the most part, however, many real estate agents will tell you that having an uncooperative tenant while selling a property is a big challenge. Thus, it is important that you need to know how to sell a house with renters in it so you get top dollar for your property. Know the ins and outs of selling a tenant-occupied home and keep in mind these considerations.
Notify your tenant
– Before starting the whole sales process, it is important to let your tenant know that you plan to sell the house. Be aware of notification periods in your territory or state so you do not end up breaking any rules in your lease.
Ask your tenant to leave
– Sometimes, it is more advantageous to sell a home without tenants. Asking your tenant to vacate your property should not be a problem if they are on a periodic lease agreement. However, requesting your tenant to leave while they are on a fixed lease might break the terms, unless they voluntarily opt to leave.
Know house viewing courtesy
– Inform your tenant at least 24 hours before you show the property to a potential buyer or hold an open house in Sioux Falls. It is common courtesy for tenants to leave the home for a while during an inspection, but it is not really a requirement.
Work around limitations
– Know that a tenanted property gives you less control on its presentation to potential buyers. A good tenant can have the courtesy to ensure that the house is clean and looks presentable, while bad ones can significantly lower your sale price.
Understand buyer needs
– Home buyers looking for an owner-occupied property might be turn off on a listing with tenants. On the other hand, there might be those who would not mind it, so it helps to have trustworthy tenants to help make the sale.
Keep tenants for income
– Selling an untenanted property might be easier, but remember that tenants also give you income. So while you can, keep your house rented to last you through those months when you are still looking for a buyer.
If you find yourself still having trouble selling your tenant-occupied listing despite the tips above, you need an experienced real estate company to help you. Regan Laughlin and her team at RL Real Estate Group can give you all the necessary advice and assistance to make a good sale. Contact them at 605-212-8431 now. Texting is welcomed also.You can also visit their website at www.rlrealestategroup.com for more information.