5 Tips For Selling a Home With a Tenant

A lot of Sacramento investors come to us asking about selling their rental properties. So many are finding that they have more equity than they thought they have and they are tiring of the investment game or just want to improve their Sacramento investments by buying up or a larger property. One of their biggest questions always is what do I do with the current tenant?

Selling a property involves the basics of preparing the home and allowing access to potential buyers. When the property is still occupied by tenants, the process can become more complicated. Tenants in the middle of a move can find it difficult or even burdensome to keep the home in show-ready condition and allowing quick access to the home is certainly a disruption to their home life.

Fortunately, by following a few simple tips, you can minimize the impact on the current tenants while still selling the property for the best possible price and terms.

Here are 5 Tips to Selling a Home with Tenants –

1. Communicate Early and Often – There is nothing complicated here, clear communication about the process and timing will alleviate the anxiety of the tenants.

2. Offer Financial Incentives – Consider offering some kind of financial incentive for their cooperation in moving schedules and showing requests.

3. Create a Showing Schedule – Work with your tenants to create a window of time each day/week for showings to minimize impact. We love this one as it makes it easier on everyone, especially showing agents who are always uncertain about when the 24 hours starts for a showing request.

4. Provide a Cleaning Service – Make it as easy as possible for the tenants to keep the home clean and show-ready.

5. Be Flexible and Understanding – Above all, be willing to compromise when necessary.

We just successfully closed on a duplex property in the Parkway area for our investor clients. One side was vacant and easy to show. Agents and buyers were encouraged to write their offers subject to viewing the other side. We had multiple offers on this property and went pending over list price in less than 10 days!

If you are thinking of selling your investment property and have any questions, we are here to answer them and help you through the process. Owning investment properties ourselves makes us uniquely qualified to understand your concerns and goals.