Sell now with tennants, or wait?

Discussion in 'Property Management' started by Purplemonkey, 21st Feb, 2020.

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  1. Purplemonkey

    Purplemonkey New Member

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    Im sure variations of this topic have been done before...

    I have a rental property in Logan, Qld, Mount Warren Park. The current tenants have just resigned for another 12 months however I’ve now decided its time to sell. Is it best to wait 12 months until the lease is up and sell without tenants or is it better to sell already tennented?

    Waiting 12 months is not likely to have much effect on the property price however I’m wondering if selling it tennented could have a detrimental effect. On the other hand the location may be attractive to buyers looking for an already tennented investment property?

    No absolute urgency to sell from a cashflow perspective but would like to offload at the best available opportunity.
     
    Purplemonkey, 21st Feb, 2020
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  2. Purplemonkey

    Purplemonkey New Member

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    Or could another option be to give the tenants notice not that the property will be put up for sale in 12 months time and hope that they move earlier than 12 months?They are a family with children in local schools so I’m assuming they will want to reestablish in the same area as soon as a decent place becomes available.
     
    Purplemonkey, 21st Feb, 2020
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  3. wylie

    wylie Moderator Staff Member

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    Screen Shot 2020-02-21 at 6.15.37 pm.png

    I'd ask local agents who the likely buyers will be... investors or owners?

    I would always sell a property empty and dressed for sale. Tenants with a lease for another 12 months will limit your pool of buyers, but also saves you money on having a house sit empty and paying for it to be dressed.

    And they have no incentive to keep the house tidy for inspections.

    See the screen shot (above) from the RTA Qld website where it mentions selling within two months of signing a new lease.
     

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    Last edited: 21st Feb, 2020
    wylie, 21st Feb, 2020
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