When a seller puts their property on the market they more or less work in partnership with their agent to present and market the property for the best price possible.
When the property has a tenant, the sale process may be a little more complicated.
Most tenants are co-operative and very helpful, but even the most accommodating tenants can sometimes be tested by the additional demands that come with living in a property that is on the market.
The law requires that once a property is on the market tenants must allow the agent to show prospective buyers through the property – provided the tenants have been given 24 hours notice.
Most tenants struggle with having people wander through their home during open inspections. Quite often these open inspections are made several weekends in advance and tenants can feel like their weekends are being imposed upon. At Tony Harrington Estate Agents we do our best to work with your tenants to ensure that they have minimal disruption during the selling period and only take buyers through for a personal inspection of the property. We do our best to work appointments around the tenants’ commitments.
The tenants can take comfort in knowing that their lease cannot be broken. The landlord has no legal right to break the lease – neither does the prospective new owner – but once the lease expires the new owner is not obliged to renew it.
Although every property is different – from an ideal marketing perspective – it is better for a house to be on the market without tenants occupying it. However, if you have a tenant with beautiful furniture and the property presents well, you may be better off marketing the property with the tenants in it – rather than the property be vacant.
The presentation of the property can make a big difference to the price your agent can achieve. If your property is predominantly land value or requires a major renovation, then the presentation may not make much difference to the price you receive.
Many sellers can’t afford to have the property sitting vacant during the sales campaign because it may take three to four months by the time it settles. So there is a financial advantage in selling with tenants because there is no loss in rental income.
This is why most vendors choose to sell with tenants in the property, rather than having it sitting vacant.
A big thanks to Emma for guiding us through the settlement period leading up to move in day!Brian & CherylBought Eaglehawk
To the whole team at Tony Harrington Estate Agents, especially Justine and Emma, you guy's rock!Luke & StaceySold Strathfieldsaye
This is an agency that really cares for their clients.StuartSold Golden Square
I'd recommend Tony Harrington Estate Agents to anyone who wants to sell or buy. They're great people.Samantha & PhilBought & Sold
Thanks to everyone for a fantastic buying experience. You all made it so easy for us.Chloe & TimBought Flora Hill
Wow! What a beautiful gift we received on settlement day. Thanks Justine.The Williams ClanBought Sailors Gully
To the best admin team in Australia. Thanks for making this so easy for us.Dave & TrudySold Kangaroo Flat
The attention we were given from everybody at the agency made us really feel special.Colin & BelindaSold Huntly