Posted by Nate(DC) on November 04, 2003 at 23:57:52:
No, I don’t mind. In general, though, unless it is a personal or private question, I’d rather you posted it on the board, so that everyone can benefit from the question and answer.
NT
listing a tenant occupied home for sale - Posted by billy
Posted by billy on October 30, 2003 at 19:47:11:
i have a sfh that i have been renting to the same tenant for the last 6 years. the tenant is on a month to month lease and it is an oral lease. i have never had a lease with this tenant. he has been a good tenant but he has given me notice that he will end his occupancy at the end of november. i have decided to sell this home and have listed it with a realtor yesterday. last night i told the tenant that the home would be on the market, a sign would go in the yard and realtors would be showing the house. he advised me that he did not want the home to be shown while he is still renting for this last month. i dont believe he has to allow me access for the purpose of realtors showing the house. i cannot let the realtor put home on the mls until the tenant agrees to allow access for purpose of showing. how would the people in this forum recommend i change his mind and allow me to have realtors show this home? thank you.
I agree with Nate, and… - Posted by Ron (MD)
Posted by Ron (MD) on October 30, 2003 at 20:43:48:
…there’s more.
I’ve looked at properties when the tenant is still there. (Probably tenants who were happier than your tenant.) They feel like it’s their civic duty to follow you (the prospective buyer) around and point out every single problem with the house. They are the anti-salesman, that you don’t need around.
Ron Guy
Re: listing a tenant occupied home for sale - Posted by Nate(DC)
Posted by Nate(DC) on October 30, 2003 at 20:12:27:
Just as a reference for next time…this would be a good reason to HAVE a written lease…with a clause in it that allows the house to be shown once the tenant has given notice.
As far as how to make him let you in: bribe him? I suppose you could offer to give him a break on the last month’s rent if he’ll allow showings.
Then again, as an agent who has tried to show tenant-occupied properties before (note: I have never LISTED a tenant-occupied property, because I never encourage people to sell a property without getting the tenants out), my experience has been that a tenant in-place who doesn’t wish to allow showings, will find a way not to allow them to take place, even if the owner expects otherwise. Tenants have all sorts of ways to be uncooperative, and also can really muck things up if they DO allow the place to be shown; it may be a mess and the prospective buyers would not be interested. I’d almost say it’s not worth getting that extra month of market exposure to avoid having to deal with selling an occupied property. Given that the tenant is uncooperative (and even if you bribe him, he will still, at heart, be uncooperative, and unhelpful), the likelihood of getting a sale while he’s still there is low, simply because the chances he’ll allow it to be shown are low, and if it is shown, I bet he’ll do something to make it a bad showing.
NT
Question 4 Nate(DC) & Ron Guy - Posted by E.Eka
Posted by E.Eka on November 02, 2003 at 14:42:40:
Hey guys,
I’m also in the DC area and I have a question. Trying to get into flipping to build small cash reserves. Would you two minded if I asked you a few questions?
Any other REI in the MD,DC,VA area drop me a line too!
Thanks,