If you are interested in selling one of your rental properties and you have a tenant living in the home, this could present an issue for all of you. You must make sure that your home will be clean and in good condition when possible buyers come to look at the home. Your tenant will be concerned about having people inside of their space and the ending of the lease. Your property management team may have concern over how to continue to execute the rest of the lease with everything thrown into disarray. In order to get everyone on the same page, here is how you can prepare your property manager and tenant for a home sale.
Prepare a letter statement
As soon as you make the decision to put your home on the market, you should notify your tenant and property management team. Let both groups know that you intend to sell the home, when the home will go on the market officially, and any other timeline information that you may have. Notifying everyone early will allow everyone to prepare early.
Pay for the first cleaning
To make a good sale quickly, you will need to have your home listed with multiple listing services immediately. To do this, your real estate agent will need to get good photographs of the inside and outside of the property. Inform your tenant of this, then pay for the first professional cleaning to come and clean the property. This will allow your real estate agent to get good photographs and it will be a special treat for the tenant for all of the extra that they may have to do.
Have your management team retain the tenants schedule
Instead of allowing your tenant to be disturbed when people would like to walk through your house, you should ask realtors and agents to set up an appointment. Have your tenant give a schedule of times that are good to allow people into the home to the property management team to hold. This way you can collaborate with the management team to schedule walk-throughs that work for everyone.
Ask specifically for investors
Though it is not a good idea to bar anyone from putting an offer on your home, you can advertise towards investors who are looking for a new rental property. This means that your tenant will get a chance to remain in place and your property management team may be able to remain employed by the new investor. Finding an investor buyer will make the transition easier for everyone.
To learn more, contact a rental property management company like Cambridge Companies.