FREQUENTLY ASKED QUESTIONS ABOUT SELLING YOUR GOLD COAST REAL ESTATE WHILE TENANTED
From time to time an owner will need to sell their investment property while it is tenanted. Morgan Oliver, Sales Director for JMO Property Group says, “this raises many questions about how the process can take place when the property is not vacant or easily accessible for open homes, agent appraisals, valuations, renovations, and so on. We would like to help owners navigate this space by addressing some of their concerns in a question-and-answer format.”
| Q: |
Can I sell my property with tenants in it?
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| A: | The simple answer is yes, but there are a few things to consider ensuring you are observing your tenants’ rights during the process and improving your chances of a smooth sale. Our best advice is to engage an agent who has experience in this area, and it all starts with giving your tenant written notice of your intention to sell. |
| Q: |
How do agents get access to a property that is someone else’s home?
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| A: | As the selling agent we make it our priority to talk to the tenant, assuring them of their rights and addressing any concerns they may have about the sales process. We find that this open type of communication works with even the most problematic tenant, and of course access is always undertaken in accordance with the legislation. |
| Q: |
How can I get tradies to carry out work before I sell?
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| A: | The legislation requires the agent give 24 hours’ written notice to the tenant when maintenance or repairs are required. |
| Q: |
How are inspections handled when selling a tenanted property?
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| A: | Your tenant will need to be given fair warning of any inspection. It is a good idea to give more notice than is necessary to maintain a good relationship with the tenant. Some tenants may prefer offering inspections at set times so their lives are less disrupted. |
| Q: |
What tips are there for maintaining a good relationship with tenants when selling?
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| A: | For many renters, one of the most frustrating things is the lack of control over their living situation. As the landlord, it’s in your best interest to keep your tenants on side so the process will be as pain-free as possible and so that you can ensure you property continues to generate a return during the sale. You may like to consider:
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If you are an investor and you’re thinking about selling your tenanted property it’s important to start planning early and to appoint an agent, like JMO Property Group who has experience in this area. Morgan says, “we have handled this scenario many times over and have the skill and expertise to work with tenants and vendors alike to achieve the best outcome for everyone.”
If you would like to discuss your Gold Coast real estate enquiries, please call Morgan Oliver today on 0404 050 620 or 07 5517 5282.
