If you’re looking to sell your investment property, it is important to communicate with the tenants, as they can often feel like their privacy and quiet enjoyment has been invaded. If you get a tenant offside, it can cause unnecessary challenges and inhibit your ability to quickly sell the property.
For this reason, it is important that you notify your managing agent of your intention to sell. Over time your agent has developed and established a great working relationship with your tenant and they are well equipped to approach them and discuss things such as inspections and how best to present the property. A good managing agent will communicate with your tenants and keep them informed, and when the property is sold, assist them if there is a need to relocate into another property.
Here’s a thought – If your tenant is proving to be difficult with inspection times, you may wish to consider offering the tenant an incentive, such as a free rent period or dollar value to help with removal costs if the property is sold within a period of time. This may also motivate the tenant to take extra care in the presentation of the property and allow more frequent inspections.
Being a tenant in an investment property that is on the market for sale can create a lot of stress and anxiety and can be very unsettling, as you can imagine. We like to think that we take the time to care for the needs of all our clients.
Remember, when dealing with others, including your tenants, always keep in mind this little saying.
“Thank you and please are two little keys that open many doors. Use one it opens some, use both it opens more”.
If you are thinking of selling, please call us and we will guide you. The tread softly approach always works better if you discuss your situation with your tenant and managing agent.