It is tough to list a home when there are still tenants in the property, as they don't have any skin in the game. I usually suggest to the landlord to offer a discount or free month of rent to allow for showings, and keep the home clean for showings. Sometimes the tenant only allows certain times for showings, which makes it very difficult to get a home under contract.
Shanta did a great job with this post!
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:
- It’s easy to show.
- It’s priced right
- 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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