If you’re a seller looking at selling your Sydney real estate which is tenanted, take notice.
A property sales campaign is a very narrow window of opportunity, so it is in the best interests of landlords to remain on good terms with tenants throughout the sales process.
Points to understand:
– Although the property is owned by someone else, it is also the tenant’s home.
– Treat tenants like humans (because they are!). Too many agents and owners are used to treating tenants as second class priority.
What works (“procedurally” and practically):
Our office does Property Management as well as Property sales in Sydney so we’re pretty good at dealing with tenants. These are the steps we take in a nutshell when we sell a tenanted investment:
1. Mail out a “Notice of Intention to Sell”.
This notice formally notifies the tenants that the property is for sale. This is also where you propose the inspection days and time. This notice covers you legally so its imperative that’s it’s done right.
Note also that the first inspection can be held after only after 14 days of giving this notice.
2. Send your tenant an email giving them heads-up that they’ll be receiving notice.
3. Check whether access times work for them. Let them know you really appreciate them keeping the apartment or house nice and tidy during showings.
4. Lastly, after your first visit leave your tenants a bottle of wine or chocolate. Rule of reciprocation, give to get. Simple and it always works!