Should I List my Home While my Tenant Still Resides There?

By
Real Estate Agent with Carolina MaxRealty 222208
http://actvra.in/4YJr

With home values surging and inventory low, now may be the time to finally list that income property. But, as tempting as it may seem, wait until your tenant has moved out before you list your home.

 

Whenever you list your home, you want to make sure of three things:

  1.      It’s easy to show.
  2.     It’s priced right
  3.     It looks great.

 

That’s it!!  If you hit all three markers, your home will sell!

If your tenant is still in your house, you will MISS the mark on all three criteria.

 

It's easy to show.

With a tenant, there are state laws which guide showing the house. For many states, you have to give the tenants a 24-hour notice. That means, those casual showings for the weekend may be missed.

Buyers may not want to view any homes because of the perception that it will be harder to deal with, thus decreasing the number of people that want to view your home.

While, tenants may agree to the showings, they may not leave for the showings. This can make the buyer very uncomfortable and unable to get a great sense of the house.

 

It’s priced right.

Even if your home is priced at market value.  Most buyers feel that most homes with tenants will have more problems and need more repairs than other homes.  This may make initial offers on the home low.

 

It looks great.

No matter how beautiful your home is, it may not translate well if the dishes aren’t clean and dirty laundry is thrown about.  You can’t guarantee what the house will look like if you aren’t there to clean it.

 

You CAN sell your income property! Take the time and have your tenant move out before you list your home.

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Joan Cox 01/16/2017 05:27 AM
Topic:
Home Selling
Location:
North Carolina Wake County Raleigh
Tags:
selling your home
raleigh real estate
selling tips in raleigh
selling your home with a tenant
how to sell my income property

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Ambassador
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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Trying to sell with a tenant in place is tricky and seldom results in a clean deal unless the tenant is paid well to leave

Jan 11, 2017 05:59 PM #1
Rainmaker
69,930
Shanta Jackson
Carolina MaxRealty - Raleigh, NC
ShantaSells

Thanks Ed! That is correct. It seldom ends well. We have a number of these homes on the market in Raleigh, NC and I try to steer buyers away from these properties.

Jan 11, 2017 06:35 PM #2
Rainmaker
2,691,328
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

It is always a bit tough to list a home with tenants, as they don't have any skin in the game.  Great post.

Jan 16, 2017 05:25 AM #3
Rainmaker
457,786
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Tenants don't want to move out and don't make it easy to show. Wait till they are gone!

Jan 16, 2017 05:38 AM #4
Rainer
239,260
Jim Smith
The Property Management Company - Round Rock, TX
Broker,CRS,GRI,RMP,CNE,TRLP

The flip side is, you can turn it into a show-ready home.  Consider an agreement with the Tenants to act as "staging Hosts", which includes moving the clutter out of the house into storage; and, compensating the Tenants, through rent concessions, for making the house a "Home".  Be sure ti include the conditions of showing, including ease of access.  It's a win-win for all: considerably less rent for the Tenants, and the utilities, taxes, insurance, and lawncare are covered, even if in part, by the Tenant.

Jan 16, 2017 06:34 AM #5
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Rainmaker
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Shanta Jackson

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