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Thinking of Selling a Tenanted Property?

An investment property is one that needs to serve your needs and create wealth for your future. A part of the investment life-cycle sometimes involves having to sell it. If you are thinking of selling please consider these points:

Let your property manager know – they should be the first people to know once you have decided which agent will sell your property as they have the relationship with your tenant and can arrange access and inspections for your selling agent.

Consider an incentive – it is to your benefit that the property be presented at its best, and be available when inspections are necessary. This may involve some goodwill to your tenant like reducing the rent for a set period, or even monetary compensation.

The fact that the property is on the market can create stress and upheaval for the tenant, and if they are in a non-fixed term lease, they know they may have to move in the near future. If they are in a fixed term lease, this is guaranteed to the tenant (unless they agree otherwise, which also may involve a monetary form of compensation by negotiation).

The best result for everyone concerned will be gained by working together to work out a ‘win-win’ scenario and bring the property to a sale with the best achievable outcome.

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