I'm selling a condo that I rent out. Renter is requesting $200/month rent credit, $75 per open house and $50 per showing. Condo is in Seattle, WA and nothing in the lease prevents me from selling the unit except that the new owner needs to honor the current lease. It seems ridiculous what the renter is asking. What is customary in this situation and how would you handle this? Thanks.
Refer to your lease and county renters law as to how you showcase the property. In most cases, it's only a matter of providing proper notification.
Your tenant does not dictate how you do business, nor do they cash in on such situation.
To your success!
One thing to consider....properties with tenants typically sell for less than vacant properties. So if I were you, Id get the tenant out altogether
24 notice is all that's required. I know it might be "annoying" to show the house, but unless it's on the lease, it's not something you should pay for.
I disagree about vacant/non vacant generalizations. If property is rented below value, then it's best to have the property vacant. The opposite would also be true
I recently sold a condo with a tenant in it in Issaquah. You might consider giving them a one time $200 credit but only if they agree to be cooperative throughout the entire sale and for all showings, and then only give it to them after closing if they actually were cooperative - but that's up to you. I would not pay them for showings or open houses, that's not customary.
(1) The tenant shall not unreasonably withhold consent to the landlord to enter into the dwelling unit in order to... exhibit the dwelling unit to prospective or actual purchasers...
(5) ...The tenant shall not unreasonably withhold consent to the landlord to enter the dwelling unit at a specified time where the landlord has given at least one day's notice of intent to enter to exhibit the dwelling unit to prospective or actual purchasers or tenants. A landlord shall not unreasonably interfere with a tenant's enjoyment of the rented dwelling unit by excessively exhibiting the dwelling unit.
Showings....no issue, just do it.
Open house.......for hours at a time, you probably need to do something, especially if you want them to not be there.
Why do tenants feel they have some sort of entitlement.
Ask him if he would like to move. It will be to your advantage to sell vacant. If he is M2M send him notice to non renew before the 1st of November.
Wow, is all I have to say. That seems a bit of an excessive request.
If they value their privacy so much they should not rent. Perhaps suggest to the tenent they are free to prevent showings by submitting their offer to buy today!
@Brian Britton I would part ways with the tenant asap. They have already shown their hand and it has PITA written all over it. You don't want to deal with that type of a situation when you have the property on the market.
I don't have any insight to contribute here, but thanks for posting this. I'd never heard of a tenant requesting this. I don't know why you'd have to compensate them at all.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing