If you still have tenants living in your property when you are ready to sell, there are certain procedures you will need to follow.
The benefits of selling your
property whilst already tenanted, are that you will still be receiving income
during the selling process, other investors will be attracted to a property
that is already tenanted and it reassures investors that the property is very
There are however some things
you need to consider, such as providing adequate notice to the tenant before
Also, sometimes tenants may not
present the property in the best possible light and issues may arise, between
yourself and the tenants, if the property becomes difficult to sell.
Each state has different notice requirements for tenants and notice must always be given in writing.
If you have a fixed term agreement with the
tenant, they are entitled to stay until the end of the term.
As the owner, you are allowed to display a "For Sale” sign
on the property.
Check with your local authority with regards to notice periods for your area.
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Wednesday, 10 July 2019