Posts Tagged ‘sell a rental property’

HomeVestors Knows How To Sell A Rental Property That Is Occupied

Thursday, March 27th, 2014

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Investors who want to sell a rental property that still has tenants living on site need to make adjustments in order to impress potential buyers. 

Dallas, Texas HomeVestors is the nation’s number one home buying franchise and has helped real estate investors purchase 50,000 properties over the years.  The company knows that investors who have decided that it is time to sell a rental property, but still have tenants living at their property need to decide how they want to proceed in order to get this property off their books.

The best way to sell a rental property is to wait until tenants have left the grounds and then get a property in excellent shape.  Investors who do this will be able to stage a property the way they want and make a good impression on buyers.  Those investors who have the time to wait for tenants to move out should do so.

Investors who have to sell a rental property in a short window of time and have tenants living on site need to proceed with caution.  Investors need to be honest with these tenants and explain the situation, while encouraging them to help in any way.  Tenants who have a good working relationship with an investor should be willing to work together.  In exchange, an investor should be willing to reduce a tenant’s rent and help them with moving costs, if need be.

Chances are that a tenant will be disappointed that a property is being sold and will begin to look for a new residence.  Investors should help these individuals look for a new place to stay and help them with moving costs.  Investors should submit a letter to future potential rental property owners and give tenants a good referral.

Occasionally, an investor will run into a tenant who refuses to cooperate.  The only thing that an investor can do in this case is wait until tenants vacate the grounds or move forward and sell a property without their cooperation.  Obviously, this will reduce the amount of positive exposure a property receives, but investors who need to sell an investment don’t have much other choice.

Investors should do what they can to reach an agreement with tenants in order to sell a rental property.  Consider giving them a steep discount off the rent and do what is necessary to come to an agreeable conclusion.

Investors who want to sell a rental property that is currently occupied need to proceed in a step-by-step format.

About HomeVestors of America Inc.

Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties.  Most commonly known as the “We Buy Ugly Houses®” company, HomeVestors strives to make a positive impact in each community.  In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review’s “Top 50 Franchises,” a distinction awarded to franchisors with the highest level of franchisee satisfaction.  For more information, visit www.HomeVestors.com.