Westwood Conveyancing

Are you organising to sell your tenanted property?

Practical and Legal Tips for Selling a Tenanted Property

If you’re planning to sell a property which is tenanted be mindful of the fact that the tenant’s co-operation in showing prospective buyers the property is paramount.

So why not, to encourage your tenants to give this co-operation freely, reduce the rent by say $20 to $30 per week during the period that the property is on the market.

This won’t mean much to you as an investor at the end of the day for such a short period but it will to most tenants.

To them it is the cost of a large pizza and a movie rental every Saturday or Sunday night.

Which Agent to Use

Understand the thinking of the Real Estate Agent. 

Wherever possible, use the same Agent to sell who has been managing the letting of the property - the relationship is already set up so communication is in place to maintain how your property is positioned to sell and how many prospects over time come to view the property.

Appreciate that the reason the Letting Agent on most occasions has been dutifully managing the letting of your property over the last few years has not been for the commission they pick up on the rental paid to them.

The bigger picture to them is that management of the letting will usually also lead to the eventual sale of the property through their office at some time in the future.

The co-operation between the Letting Agent in helping to organise inspections of the property through the Selling Agent will go a long way in helping to achieve a sale.

Where the Letting Agent and the Selling Agent are one and the same company this will facilitate the process.

Keeping things simple makes sense.

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