Hi all. Having to sell my investment property (not because of the market but to get the hubby home from the middle east) – is it better:
to sell the property tenanted (the lease is up June). If I let them know now they may not re-sign the lease,
is it better to wait until they have committed to a new lease,
or would it be better to sell vacant, but things have started to take much longer to sell.
If they do re-sign the lease would it be better to approach them first in the hope they may be wanting to buy before seeing the r.e agent?The property is Nerang, SE Qld and would need to get $280,000 or not worth selling. So any ideas on the best time to sell re: tenants lease would be appreciated! Thanks[exhappy]
If you allow the lease to expire many tenants are happy to go onto a month to month arrangement.
This will allow you to sell the property to both an investor or a home buyer.
Places often present better furnished than empty, but this will depend upon the tidiness and willingness of the tenant to allow agents and prospective buyers through.
Perhaps a rent discount might be an incentive here?
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Agree with Simon re property presents better furnished, and possible rent discount. Talk to the tenants first – you’d be suprised how many want to buy the property they live in. If they can’t afford a normal loan – I know a good place to find info on wrapping..[biggrin]
But if they look after your property well, treat the tenants like family – if you get them to sign a new lease and then immediately put it on the market they might be very cheesed off and cause you grief re access, or presentation, which could be a potential sale killer in a slow market with lots of property for sale.
I’ve found if you treat people as you’d want to be treated, it (generally!) is rocipricated – and you sure want them onside whilst you sell. And hey, with Carr’s new tax, there’s a whole lotta NSW investor’s heading to QLD, – odd’s are good an investor will buy, and your tenants can stay – everyone wins…theloanarranger
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