How To Sell A Tenanted Property
If the time has come to sell your investment property, we’ve got some fantastic tips to guide you through the process. Follow these easy steps to make the process easier for you:
Let your tenants know
This is pretty straight forward. Giving your tenants plenty of notice is important as you won’t be able to organise open for inspections without doing so. It’s important to give your tenants enough time to process the news as this will help with the transition process and presentation of your property.
Prior notice required
If you are planning to show through prospective buyers before your tenants have vacated, you will need to give notice to access the property prior. In Victoria, 24 hours is required before gaining access to a tenanted property.
Incentives are important
If you are showing prospective buyers through the property while it is tenanted, it’s a good idea to be amicable with your tenants to ensure the property is shown in the best light. You may want to offer a rental discount or offer regular cleaning to help show off your property as you may not have control over furniture or styling.
If you would like your tenants to vacate, you will need to understand your rental agreement. If you are within a fixed term agreement you cannot force you tenants to vacate, but if they consent in writing, you will be able to end your fixed term agreement. If your tenant is not on a fixed term agreement, in Victoria you are required to give 65 days’ notice to evict your tenant.