Investors often wonder whether they should sell their property with tenants still in it. It can be quite a conundrum as there are pros and cons to both options.
On the one hand, if you decide to have the property vacant, you’ll have complete access for inspections and you can have the property clean and well prepared. Having the property vacant also gives the option of using a stylist to put stage to sell furniture and furnishings in the property which can have a dramatic effect on the overall presentation of the property. On the downside however, by not having your property tenanted you are not receiving rental income during the marketing and sales period. If the sales period is longer than expected this could potentially put financial pressures on you.
There’s also the possibility that you sell your property with tenants still in it, it may be an attractive option for another investor. The investor may decide to purchase as they can see that a lease is in place and that it is a current investment option.
Ultimately, there are pros and cons to either option. It’s important to decide which option works best for you and your personal situation.
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