Considering selling your investment property? The idea scenario is to have a vacant property but we understand this cannot always be possible. Here are our tips to maximise your sale price while your investment property is tenanted.
Ensure a respectful tenant relationship
It’s very important that your sale agent has a good and respectful relationship with the tenants who are living in the home. We understand that this can be a very stressful time for tenants as they face potential uncertainty and may be feeling anxious about what may happen at the end of their lease agreement. Tenants should be treated with the utmost respect as they are paying to live in the home.
Our approach is to work around the tenants lives and work schedules so to keep disruption as minimal as possible. It’s important to keep tenants on side and communicate regarding property access requirements for inspections, photography, building and pest inspections and valuations.
Do a pre-inspection for any maintenance and repairs
We recommend an inspection of the property prior to launch to check in with the tenants and rectify any maintenance or work that needs to be done. If anything is broken or looking haggard it’s a good opportunity to get a trusted tradesman in to perform any work that is required.
Offer help
To ensure the property is presented as best as it can be to prospective buyers, and to take added pressure off the tenants, you can offer a weekly cleaner / gardener to maintain the presentation of the property.
Tenant incentives
Another good-will gesture we sometimes suggest is to offer your tenants a rent reduction during the sale process or financial incentive. This can help to compensate for the inconvenience and disruption to their lives.
Selling an investment property can be challenging, but it really comes down to the sales agent maintaining a good relationship with your tenant. If you’d like to discuss selling your property, or have any general market questions, please feel free to get in touch.
