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Unlock the Hidden Value in Your Rental Property. Discover Best Ways to Sell Your Home with Tenants
So you have tenants in your property and you would like to sell your home.
How do you do it? How do you navigate that? What’s the best way?
Do we need to wait until the tenants leave before you can put your property for sale?
In this video, I’m going to share with you 10 techniques on how you can successfully navigate and sell your property even if you have tenants on the property. So let’s get started right away.
- 1. It's always very important to honor the tenants' rights. Be sure that before you think about putting your home up for sale that you review your lease to make sure that you can sell the property per the terms of your lease agreement. Also be sure to express tremendous gratitude to your tenants from renting from you and working with you to sell the property.
- 2. Consider asking the tenants if they would like to purchase the property. Sometimes that can save a a lot of time and headache by just selling the property directly to your tenants.
- 3. Work with your tenants for showing times you know how to find out what days are best for them. We don't want to inconvenience them, or inconvenience them as little as possible. The reality is you know it is a a little bit inconvenient when you're selling a property and they have to leave and such but we want to make it as easy as possible for your tenants, so ask them what days and times might be best to show the property.
- 4. Be sure to give at least 24 hours' notice and again check your lease with the tenants to be sure what other requirements you may have.
- 5. Consider asking the tenants to leave when you're doing the showings. The property typically shows best when the tenants are not in the property.
- 6. Offer to help the tenants with another place to live. You know when you're working with our team that's something that we do all the time. We can look to figure out what their budget is what their lease options and sometimes that makes it so much easier when the tenants already have another place to live.
- 7. Consider offering a small discount to the tenants for helping with the showing and for helping you sell the property. Sometimes this showing of Goodwill can go a long way with the tenants.
- 8. Consider cash for keys you know when the property sells sometimes we can incentivize the tenants with some cash to leave the lease early. And again it's just a matter of having really good communication with your tenants. What if the tenants are not cooperative.
- 9. These are some bonus tips that can really help. Consider virtually staging the property. Virtual staging is a way that we can take photographs of the property in its current condition and we can digitally alter them to show what it could look like. Maybe the tenants aren't keeping the property as clean or as tidy as they should or maybe they don't want their furniture photographed to use in the marketing materials. Consider virtual staging as one way to overcome that. Here in the video down below there are some samples of what virtual staging can look like and how powerful of a tool that can be. Also consider 3D virtual reality tours if the tenants are not being cooperative. Sometimes we can do a 3D virtual reality tour where buyers can actually walk through the property digitally and see the property without even bothering the tenants. Whatsoever so virtual tours and 3D virtual reality tours can make a big difference in minimizing the inconvenience to tenant.
- 10. And finally, a last option considered offering showings only with an accepted offer. This is not ideal most buyers would like to see a property before they write it but if the tenants are being completely uncooperative and they just don't want to work with you. Consider only showing it once you have an accepted offer.
I think these are some really great ways to market the property with tenants so that you can maximize the sale and still continue to receive the cash flow for your property.
If you have any questions about how to navigate these waters contact any member of our team is very knowledgeable in this area and we can help you sell your properties even with tenants in it.
If you know somebody that’s looking for a career in real estate or real estate agents that looking to join a team that makes an impact and a difference on people’s lives please see the link here below in the video, as we have several different career opportunities for real estate agents here in California.
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