Hi everyone
I am looking to sell and would like to approach the tenant to see if they're interested (don't know either way). Can I do this by contacting them directly by letter in the mailbox, Dear tenant……. or must it be done through the PM??
They have kept the place in excellent condition and I would also like to advise them that if I don't sell, then I would like to keep them on (obviously.. and particularly in the tight rental market at the moment). I do realise that after advising them, I could have a vacant apartment at the first hint of strangers walking through looking at their belongings…..
Appreciate your comments on how you managed tenants when selling your IPs
ChrisA1
Persistence is 'to keep on keeping on, no matter how hard the going may be'
Bump…
ChrisA1
Persistence is 'to keep on keeping on, no matter how hard the going may be'
Could you ask the PM to let them know that you're considering selling and would like to offer them the opportunity to purchase it – and if they'd like to discuss, the PM can pass on your contact details.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Have a look at your lease agreement. There are limitations to access under the agreement.
Limits in NSW
To show the premises to prospective buyers;
- 2 weeks written notice before first inspection. Subsequent inspections as agreed with the tenant or, if there is nothing agreed, no more than 2 inspections per week, with 48 hours notice each time.
Times are between 0800 – 2000 and exclude Sundays and public holidays.
Note that these are not guarantees of access when you want it but minimums. They could tell you to bugger off and then it's off to get a tribunal order.
If they're not interested in buying themselves you could offer them a consideration for their trouble. Nothing like greasing the wheels to make things go smoothly.
I'd get the agent to drop off a nice bottle of wine, or get some flowers delivered.
The selling agent needs to really get in good with the tenants before you do anything. You can help by offering an decrease in rent over the selling period to help ease the annoyance factor. You'll want the tenant to be agreeable to opens when they need to happen.
Also you really need to see if the end buyers want to by with vacant possession or with a tenant. There's no use promising high and low that you'll let them stay if the end buyers only want to buy to live in. You'll stuff the tenant around as well as put off all the buyers.
softly, softly, and at every chance be as accommodating (within reason) as you can.
Good luck
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeA little of topic, but worth considering when working with tenants to schedule the sales process. In NSW, with the last major changes to the act, your tenants can simply up and walk if you decide to put the property on the market…
Residential Tenancies Act 2010 No 42
100 Early termination without compensation to landlord
(1) A tenant may give a termination notice for a fixed term agreement on any of the following grounds:
© that the landlord has notified the tenant of the landlord’s intention to sell the residential premises and did not disclose the proposed sale before entering into the residential tenancy agreement,
On the flipside; if you do contact the tenant directly, you'd save on agents fee and can offer to split the difference with them. Eg – Agent fee 10k, so take 5k off sale price and you both 'save' 5k. Or would this grump up the agent?
I would only use the PM for delivering the message – I wouldn't tell them that their selling division would get the listing if it goes on the market.
It's a good point though Tim – perhaps it's something that could be mentioned to the tenants to sweeten the deal.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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