This content is courtesy of my AR associate, Beth Atalay.
HOW TO SELL YOUR TENANT OCCUPIED HOME
If your Tenant has something to gain from the sale of the house, they would be more willing to cooperate showing it.Think of ways to motivate them!
If at all possible, it would be best to wait until the tenants vacate the house prior to listing, however, that may not always happen.
There are several ways to motivate your tenant so they have the house in “Show Ready” condition at all times. Let’s be honest, it is work to keep the house in good, show ready condition even if it’s the homeowner living in the house.
Once you list your house for sale, you’re now asking your tenants to go out of their way and clean the house, make the beds and “allow” Realtors into their home with their potential buyers.
Based on my experience, most tenants have strict showing times, they do not want lock boxes on the door, no sign in the yard and reluctant to answer their phone to schedule showings.
Here’s a list of ideas you might consider to motivate your tenants to show your house:
-Offer a discount in rent while the house is on the market
-Offer to pay for their move
-Offer for a cleaning service while the house is listed
Ideal scenario would be for your tenants to buy your house, so ask if they would be interested in purchasing your house. Some may not be even aware that they’re qualified to be home owners.
Be sure your house has good curb appeal especially while you’re trying to sell it. I would recommend to have an inspection of the house prior to listing it to make sure there are no neglected areas inside or outside of the house.
Of course the best choice would be to wait until their lease term is up and market the house after tenants vacate.
Homes that are tenant occupied can be the longest ones to stay on the market for sale. Consult a Realtor and go over your options before announcing the Sale of your house to your tenants.