Shannon Bashir : Keller Williams Realty VanCentral : Archived blog posts for : 2021

Shannon Shares - May 26, 2021

Posted on May 26, 2021 by Shannon Bashir

Selling Tenanted Properties

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Selling Tenanted Properties

Posted on May 22, 2021 by Shannon Bashir

It takes Skill, Patience, Communication, and Perseverance to ensure a smooth transaction for everyone involved.

As soon as a Seller hires me to list their Tenanted Property, I ask to meet the tenants to get to know them, find out how long they have lived there as well as what their goals are. Building rapport with the tenants is an important component of the selling process.

During our meeting, I explain the selling process and the various scenarios depending on the type of purchaser. We discuss the outcome if an Investor purchased the property to keep it as a rental as well as someone wishing to live in the property, or a purchaser buying it for a family member.

I inform them of the proposed viewing schedule and ask for feedback. By law, we are allowed to show a tenanted property with a 24 hour notice, however, I believe it is in our best interest to contact the tenants to make sure it doesn't interfere with their schedule, after all, this is their home.

I explain how having a clean home for a showing is to their benefit. It helps sell the home faster, inconvenience the tenant less and demonstrates the type of tenant they will inherit.

I also ask if they have installed any fixtures that will be removed when they move out and document those items so all potential buyers are aware of items that may be removed. This is also great protection for the tenant, so they don't get charged upon move out. Examples of some items tenants have installed in the past are shower rain heads, cupboard organizers, ceiling fans and light fixtures and much more.

When you are thinking of selling a Tenanted Property, make sure you contact someone who is comfortable dealing directly with your tenants to ensure the process is as smooth as possible.

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