- April 24, 2024
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I recently had the pleasure of selling a tenant-occupied home for a friend of mine. Some of you reading this are likely surprised to hear me describe my experience listing and selling a tenant-occupied home as pleasant, and with good reason. Often times selling an investment property with tenants in place can be painful, but it doesn’t have to be! Most people renting homes are reasonable and easy to deal with when given the proper expectations, communications and respect. Read on for a few suggestions to keep your tenant-occupied sale moving along smoothly.
Show your renters some respect.
Super easy rule to follow, treat others as you wish to be treated. Although the occupants of your property aren’t the owners they do live there and a little respect can go a long way in getting their help when it comes to scheduling viewings for other potential owners. Prior to placing the home up for sale have a quick chat with your tenants to let them know you are doing so. If your Realtor can be present or speak with them directly as well all the better. Keeping your renters in the loop from the start helps them to avoid the unpleasant surprise of hearing from a neighbor that they may have to move when the lease is up or that they will have a new landlord soon. Ask if they have any concerns and if there are any requests for viewing times. It’s best to ask 24 hours advance notice when showing a tenant-occupied home and less only if it’s allowable per the lease and the occupants are on board. It’s quite possible to have the full cooperation of your tenant in many cases when they are treated well.
Set the expectations up front.
Once you’ve spoken with your renters to tell them you will be selling, manage their expectations of the upcoming sales process up front. Since you’ve already collaborated with them to find out which days and times work well for them to allow viewings, you or your agent can walk them through what happens next; multiple viewings, the home inspection, the visit from the appraiser and what to expect after closing. I find most people are more easy going and at ease once they know what to anticipate and can plan accordingly. Sounds pretty basic, but you’d be surprised, and again a little explanation can go a long way and save everyone headaches from misunderstandings. Clarity is key!
Follow through.
There is more legwork involved in many cases when selling properties where renters are involved. For example, imagine the frustration when an appointment no shows and the tenant switched shifts to be there to let them in. It’s a good thing to have your Realtor stay on top of all showings and emphasize to the agents and buyers that if they can’t or don’t want to make it to let you or the tenants know ASAP so no one is just waiting around. It’s also a good idea to coach your tenants to expect a certain amount of this and try to find hours where the home can be shown that are convenient to them so they aren’t put out for no good reason.
Not every tenant-occupied sale is easy nor is every tenant. The best you can do as a seller is to be clear and concise about what you are doing and how the process will be handled as well as show a bit of courtesy. Make sure to let your tenants know the sooner the home is sold the sooner showings and interruptions stop along with the tips above. By following these guidelines you can maximize the potential for occupant cooperation and a quick and efficient sale.
Christina Rordam is a licensed Realtor and Central Florida native with 10 years experience helping Orlando area buyers and sellers achieve their real estate dreams. She is a member of the Orlando Regional Realtor Associations Top Producer Club and holds the CDPE, CNE and CSP designations. Do you have any questions or a topic of interest that you’d like to read about? Contact Christina at 407-928-8294, [email protected]. View homes online at ChristinaSellsOrlando.com.
