My Tenant Just Lost me the Sale….Again

Are you trying to sell a property that is tenant occupied? Some tenants will be very cooperative with their landlords when the property they’re renting is for sale, but a lot of tenants will be extremely difficult, after all your property is their home. For example some tenants won’t keep the place tidy or they won’t answer the phone when the listing agent calls to arrange a showing and if they reluctantly answer and say it’s not a good time, you just might lose that buyer. Tenants may not leave the premises when there’s a showing, and that’s always so darn awkward for the buyer, the buyer will feel like they’re invading the renters privacy and will not take the time to look at the home the way they should, they won’t turn faucets on and off, flush the toilet, open closets, cabinets and or garage doors. In and out they go off to the next property, and yours sits on the market.

As an owner you should let your tenants know in advance that you’re going to sell your property, give them the first opportunity to purchase the home. If they can’t or don’t want to purchase the property then discuss with them how the property should be shown, listen to their objections and concerns and decide if putting your property up for sale while it’s tenant occupied is the right choice. If you sense they are going to be difficult and that showing the property is going to be a problem then offer to buy your tenants out of their lease, pay their moving expenses if you think that will help, do whatever it takes to make your property available to qualified buyers. Believe me if you don’t consider how you’re tenants feel about your selling and showing their home it’s going to cost you a lot of money in the long run. As a seller you’re losing money for every month that property sits on the market. You’ll have to reduce your price and after time the buyers will be asking what’s wrong with this property, why isn’t it selling, why so many price reductions.

If you decide to sell while tenant occupied then your Listing Realtor should contact the tenants, ask how much advance notice they need for showings, talk with them about the importance of leaving the home while it’s being shown and hope they will oblige.

Good Luck with the sale.

By Deborah Link

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20 responses to “My Tenant Just Lost me the Sale….Again

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