This last week I took a new listing that my Seller has finally decided to let go. This home, at one time, was her residence. As she aged and matured, her lifestyle changed as well as her needs and goals. She moved and turned this home into a Rental Income property. She has 3 in this town.
Her husband recently passed and her needs have changed once again. She no longer wishes to be a Long Distance Landlord. She hired me to help her get this sold.
When I initially took the listing, the home had just become vacant, days before. The home is immaculate. It's older, but well maintained and has character from the "Charlie's Angels" era. Yes, it's sooooo '70's. She just re-entered into a rental agreement with some other folks to keep the income flowing until it sells.
I've heard both sides of the story, when it comes to having a renter in place, when a Seller is trying to move the home.
When a renter is in place, it shows the next Buyer/Investor that the home is livable and rentable. The fact that it was vacant for less than a week is also a good sign that the vacancy rate is quite possibly, very low.
When a Renter is in place, it can also be difficult to show on the spot. Having a window from hours to days, may deter some Buyers. If the Buyer wants to see the inside and they have to wait 24-48 hours and they are here for a short time, this home could very well be overlooked. I have Buyers that are here for two full days to see properties and then they are gone again. If they have to wait, they'll move on.
I think having a Renter in Place is a boon for the Investor, but not for the 2nd home Buyer that's ready to buy today.
It's all in perspective.
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