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Should we sell with a tenant in place or vacant?

We’re often asked, “Should we sell with a tenant in place or vacant?”:

Vacant properties are appealing to owner occupies, but less attractive to investors!

A tenanted property is more attractive to investors, though less appealing to owner-occupiers!

We generally suggest investors try to sell the property with the tenant in place because this strategy typically mitigates the loss of rental income while maximising the sale potential, i.e. highest price in the shortest possible time frame.

Your Options in Queensland:

  1. It is challenging to rent a property that is advertised for sale because tenants don’t want to be inconvenienced by having to tidy their home up for regular sales inspections.
  2. If the property is listed for sale, and the lease is due for renewal, then the tenants might not resign.
  3. Tenants only have to give two weeks’ notice to vacate before the end of the lease.
  4. If you list the property for sale within 60 days of the tenants signing a lease, then tenants sign can give two weeks’ notice to vacate at any time.
  5. Tenants sign lease, you can list the property anytime after 60 days, and the tenants are locked into the remainder of the lease.

Note based on our experience and under most circumstances, we find investors benefit from Option ‘5’ creates the best possible outcomes.

 

“WEALTH IS THE TRANSFER OF MONEY FORM THE IMPATIENT TO THE PATIENT” – Warren Buffett

Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.

Investment & Sales Regards,

Mark Shorrock

Managing Director & Principal Licensee

Bluestone – Property Management For Wealth Creation

M: 0439 979 095 mshorrock@bluestonepm.com.au

3/269 Abbotsford Road, Bowen Hills Q 4006

Should we sell with a tenant in place or vacant?

WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!

WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!

Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.