Thursday, August 14, 2008

Do You Have a Tenant in Your Listed Home?

There are great tenants and there are difficult tenants. If you still want to sell your home but need to rent it out during the listing for the cash flow, be extra careful in choosing a tenant. I have a listing right now which is being totally controlled by the tenant, and we are almost never able to show the house, and when we do, it is a mess! This is a tenant who clearly does not want this house to sell.

Within your lease agreement you need to spell out the terms of showing. By law we always have to give 24 hours notice to any tenant before we can show the home, but it should be possible to show with reasonable notice whether the tenant is present or not, just the same as we do when homeowners are still living there.

So, if you are in the position of wanting to rent but also wish to sell, be sure you get some good legal advice and a good lease contract.

Ideally you want to stage a vacant home and leave it vacant, but in these times we are seeing much more renting than in the past, and we can work well with those arrangements when they are properly set up. Call me at 800-923-3245 if you have any real estate questions.

0 Comments:

Post a Comment

<< Home