Ready to sell your tenant occupied home? There are many PROs and CONs to selling a tenant occupied property. In some cases it’s best to list your home after the tenants move out, but sometimes that is not an option. So when your home is tenant occupied and you need to sell how do you get the tenants on board? Below are 5 tips to selling your tenant occupied home.
Have a conversation with the tenant and let them know your plans to sell the property. During the conversation make sure to let them know their lease will be honored and you’ll be targeting investors to purchase the property or a buyer who’s willing to wait. It’s imperative you reassure them that they won’t be homeless. If you don’t communicate your intentions they might make it impossible to sell your property.
2. Create a Showing Schedule
While only allowing showings on certain days within certain time frames isn’t ideal it may be the best option. By creating a showing schedule it accomplishes two things; it shows the tenant you value their time and want to inconvenience them as little as possible. It also puts their mind at ease knowing they won’t be bothered 24-7 with showings. When a tenant feels like you care about them they’ll be more likely to adhere to the set showing schedule and not deny access.
3. Offer Money
If your tenant is going to be cooperative with the sale of your home offering them a cash incentive probably won’t be necessary. However if your tenant is difficult and/or their lease isn’t going to be up for more than 2 months offering to reduce their monthly rent or paying for their moving expenses might entice them to cooperate with the sale and even leave prior to their lease ending. If you decide to offer some type of cash incentive make sure to put the terms in writing and have all parties sign off in agreement.
4. Offer a Cleaning Service
If the property is not show ready you may want to offer to pay for a weekly or bi-weekly cleaning service while the home is active. By doing so it might motivate them to tidy up and keep the property clean in between showings. Oftentimes it’s a lot easier for tenants to keep the home show ready when they don’t have to spend time scrubbing floors and bathrooms.
5. Handle Showings
One of the many benefits of hiring a top Realtor to sell your home is not having to coordinate showings. However sometimes it’s better if the seller schedules all showings with the tenant because they are less likely to deny the showing if it’s coming for you as opposed to a 3rd party, like your Realtor or a showing call center.
Evaluate if selling your home with tenant’s in place is the best decision or if you should wait until the lease is up. If it is or can’t be avoided make sure to know your rights and the tenants’ rights. I also strongly recommend hiring a Realtor who has successfully sold tenant occupied properties.
If you think this article, 5 Tips for Selling your Tenant Occupied Home, was an interesting read and helpful, please share it across your social media platforms!
5 Tips for Selling a Tenant Occupied Home | Selling a tenant occupied home can be an uphill battle, but by following these 5 tips for selling a tenant occupied home it will become a lot easier. via @WellingtonHomez #RealEstate https://t.co/maO0OoUH0e pic.twitter.com/7bEsznKJ0j
— Michelle Gibson (@WellingtonHomez) February 28, 2018
Additional Home Selling Resources
- Tips For Selling A Home With Tenants by Kyle Hiscock
- How to Sell a House With Tenants by Bill Gassett
- PROs & CONs of Using a Lockbox When Selling a Home by Sharon Paxson
- Why Investors should Consider Selling their Investment Property by Paul Sian
- 5 Tips For Selling A House With Tenants by Xavier DeBuck
About the Author
The above real estate article “5 Tips for Selling your Tenant Occupied Home” was written by Michelle Gibson of Wellington Florida Real Estate. Specializing in residential real estate since 2001 Michelle Gibson is experienced in assisting buyer’s, seller’s, landlord’s, tenant’s and would love to share her knowledge and expertise and guide you through the entire real estate process.
We service the following areas; Wellington, Lake Worth, Royal Palm Beach, Boynton Beach, West Palm Beach, Loxahatchee, Greenacres and more. If you are considering selling your home, we welcome the opportunity to work with you and list your home with a top Wellington FL Realtor