Have you ever had a residential home that you have been using as a rental and now you want to sell? Then when you go to put the for sale sign up, you find out you have a tenant that doesn't want you to sell, and does everything in their power to keep it from selling?
In my state you have to give the tenant 24 hours with a posted notice that you are going to be entering the property, then, if the tenant wants, they can still make it difficult for a buyer. They just leave the house a mess and we all know a messy home doesn't show well.
If you are making a positive cash flow from the property, then it may be worth it to keep the tenant, but offer them a $500 bonus upon close for helping further along the sale. Or if it is a situation that you are losing money each month, it may be better to just pay them the $500 to move out and stop having to pay extra months of mortgage while trying to sell it. Especially if you can sell it in 30 days verses 120 days with the tenant!
If you have an investment property with an unwilling tenant, and would like to know more about selling it for top dollar, please feel free to contact me anytime.
Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)746-9573
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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Wish I had thought of that before! I have rentals that have always been a pain to show because of housekeeping issues or the owner have to be present all the time for every showing!
THIS IS A GREAT TIP!!
Todd - Very interesting proposal. I will keep that in mind in the future. I have ran into this same situation before.
Todd,
Or make the tenant an offer they can't refuse!!! Raise the rent and give them a lease purchase!!! Thanks, Fran
Good idea and very simple. Seems like most renters would appreciate that if they were not getting the boot!
Your Friend in Charlottesville Virginia!
Stacey - It really works well and I've even had a couple sellers give back all of the cleaning deposit as a thank you for your help!
Debbie - You are right most aren't and this is why this works so well, $500 is a lot better than losing money for 3 months while it sits vacant trying to sell!
Candy - We all have unfortunately!
Vickie - I'm dealing with one of those right now! I'm trying to pre-view it so my client can sell it, but they are scheduled to move out on the 21st, so that helps a little! She freaked out when she heard that they wouldn't let me see it!
Fran - You know me to well don't you Fran - lol
Charles - It really can be a win-win if another investor buys the property.