Hi Guys.
Can some one who has sold while there teanets are still in the house please explain how l do it, the house might need some refreashing how do l do that with them in there. is it better the sell with tenants in, if not how do you breack there lease if they have done nothing wrong. Also can l have contact with the tenants as in phone calls to find out how thing are going.
Thanx
Selling with the tenants in there may actually work in your favour. If an investor wants to buy it they already have one of their problems solved.
In this case; don't worry about doing a reno, unless you are prepared to move the tenants out and pay for them to live somewhere else while you do the reno. Not worth the time and money and effort for a few extra thousand on the sale price, unless you are going to do a serious reno.
In this climate that may also be a futile exercise unless you are in a really booming suburb?We sold an I.P a couple of years ago with tenants in there. We gave them a 10% reduction in the rent for the duration of the sales campaign for putting up with the agent bringing people though etc. The tenants were happy and we got the sale. We spent nothing on the place before the sales campaign, and copped what it was worth at the time.
iI you want to break their lease you need to give them 90 days notice; check with the Tenancy Act in your State.
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