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How To Approach Selling A Tenanted Investment Property

By Kaye Dennan

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Published: 17Dec2010
Word count: 408
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Remodeling an investment property and immediately putting it on the market for sale when the tenants have moved in is not generally recognised as a good strategy. The selling of an investment property can create many headaches if the situation is not handled properly (even then I am afraid to say, it does not always go easily), but at least these options may give it a better chance of mutual success.

There is a much better chance of co-operation from the tenants if they have had several months' enjoyment of the property before they are expected to have interruptions from listing agents. T

Tenants do have rights when the property is listed for sale and if you do have them onside then that is the better situation

Check to see what the rules and regulations in your area are about putting tenants out of a property sold to a home owner.

If you have tenants in the house with a lease and you sell the property to a home owner then check to see if, in your area, the tenants have the right to stay in the home until the lease ends. Should this be the case and you sell to a home owner, the tenants are often happy to move if they are given a financial incentive. In other words they may happily move before the lease is up if you, as the landlord and seller, agrees to pay the removal expenses and/or cleaning. This is a way of negotiating a satisfactory settlement for everyone concerned. It can most definitely be to the benefit of a landlord to go down this path.

A pro-active approach to getting a tenanted property sold.

Another step a property investor may take is to offer to have the grounds manicured during the selling period. This could have a dual benefit in that the tenants don't have to worry about the gardening and lawns, and you know that the property has a tidy street appeal at all times. Another idea is to make an offer to have the house commercially cleaned prior to buyers starting to arrive and this could be a good incentive to get onside with the tenants too, as long as they don't take offense of course.

Any negotiations of this type need to be handled with care and explained carefully to the tenants and if done properly the chances are that you both have a satisfactory outcome.

At Property Investment Know How you will discover a lot more information on how, when and why to invest in property, the different strategies to use and how to deal with the many different situations that develop.

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