Landlords can sell their properties with a renter in place, even if a fixed term tenancy agreement exists.
However, if you can wait for the tenant to leave, you could potentially increase the market for your property. Don’t forget that most buyers are usually owner-occupiers. If there is a lease in place, buyers seeking a place to live will look elsewhere. Although, a longer-term tenancy agreement might be just the tonic for yield-hungry investors and self-managed super funds.
Moreover, there will be more restrictions about when potential buyers can inspect the property because tenants must be given sufficient warning about possible open homes or private inspections. At the same time, some tenants may be less worried about how the property presents to potential buyers.
On the flipside, empty properties seem smaller, and as an investor, you’ll take a financial loss if you’re selling a property tenant-free. To address this challenge, professional staging can help present a vacant property in its best light.
You can discuss the benefits and costs of staging your vacant investment property with your Raine & Horne sales agent.