I recently listed a home with tenants in it. The tenants were in their last month of the property. Upon taking the listing, I urged the sellers to wait until the tenants moved out and then list the home. But, who wants their home to sit empty for a month? The sellers chose to list with the tenants in place. What unfolded was a mini-drama about every problem imaginable.
On one of the first showings, the Realtor did not lock the front door upon exit, left lights on and kept closet doors open. This did not sit well. Then, there were issues with the dog that lived in the home. Lastly, an agent showed up without giving 24 hours notice and without an appointment.
Things became so heated between the landlord and tenants I was asked to step in. At that point, it was too late for me to have any impact. The situation had just gone too far.
Did the tenants have a right to be upset? Yes, absolutely. Realtors don’t always do what they are supposed to. You would be astonished to know how many can’t follow a simple direction. What eventually happened? It got to the point however, where they would allow no more showings.
The tenant and landlord got to the point where they agreed the tenants would leave early. Funny, that was the suggestion I had in the first place!
Having your home shown while you live in the home is not fun. In fact, it can be a real pain in the neck. It is important for tenants to know what they are getting into.
If you are a landlord and have tenants in the home when selling, here are a few tips for listing your home with tenants.
1) I encourage you to vacate the home first before listing.
2) If that is not possible, I would sit down with the tenants (with your agent) and spell out what’s involved with having the home on the market. This includes everything from keeping the home clean to stepping outside when folks come to view the home.
3) I recommend offering the tenants a discount in exchange for their cooperation with the home sale. Make sure the discount is enough to motivate them.
4) Last but not least, I encourage you to place signs within the home to remind visitors what is needed, i. e. please lock the door on your way out, please remove your shoes.
You CAN sell your home with a tenant in it. A little extra preparation, discussion and planning will help pave the way for a smoother transaction.
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