Selling a Rental Property With Tenants

Tip 1: Communication is Key!

As the property managers, we already have an existing relationship with the tenants in your property. This is important as the tenants form a large part of the selling process.

By continuing to maintain the excellent standard of communication we enjoy with all our renters, we can help to make the sales transaction as easy as possible for everyone.

We help:

1. Keep the tenants informed along the way,
2. Ensure they feel respected and involved in the process.

It’s a win-win!

Tip 2: Perfect Presentation

You want your Darwin rental property to be looking its finest for potential buyers, right?

It can be very frustrating for an agent to arrive for an open inspection, only to find your house is clearly not ready to be shown. To best prepare, you should:

• Work closely with your tenants and their schedule for open inspections.
• Ask the tenants to suggest days/times that would suit them best.

Try to work within these times. The more flexible and understanding yourself and your agent can be, the more engaged your tenants will be.

Remember – we are all on the same team. Including all parties will benefit you!

Tip 3: Review Your Lease Agreement

Selling your investment property does not mean the lease agreement is terminated!

A lease will always stand throughout the sales. There is an upside though – you will still receive rental income during the selling process.

During this process, it is important to:

• Review the details of the agreement to familiarise yourself with everyone’s rights and responsibilities
• Check the periods of notice required
• Check when you can/can’t enter the property to undertake work
• Check what to do if you don’t intend on renewing the lease at the end of the current term.

You can talk to the team at Habitat about all of this. We are here to here to help anytime!

Tip 4: Choose the Right Timing

Recently in Darwin, we’ve found the majority of purchasers want to occupy the property immediately following settlement. With this in mind, it is worth taking into consideration the timing of the sale to attract the highest number of potential purchasers.

You want to give your property:

1. The best chance of selling
2. The best possible price!

However, more investors are slowly starting to enter the property market. This is great news for you!

Having a property that is currently tenanted could be attractive to prospective buyers looking to become landlords, especially if the property is a strong yield. It shows the property has good potential on the rental market.

Trust Habitat!

To help with your decision, chat to us here at Habitat about the best way to move forward for your property.

There are many ways we, at Habitat Real Estate, can assist you regardless of when and how you decide to sell your investment property.

As specialists in Darwin rental property management, we have the skills and expertise to:

• Partner with you throughout the process,
• Ensure a smooth sales campaign for yourself and your tenants.