The home is currently tenant occupied with another 7 months on the lease. They are nice and pay rent on time, but they are kind of...how should I put this...needy. One of the major instances was their child puncturing the A/C unit in such a manner that it could not be fixed. They didn't have the money to fix it and didn't think it's fair that they have to pay for a new unit when the owner's get all the benefit of an upgrade. We ended up filing a claim with the owner's insurance company to get it replaced, saving the tenant the $4K in cost. In short, the owners are done. We would like to sell the property and make it as easy for the tenants as possible (reduce the risk of sabotage of sale or damage to the property) giving them the option to either vacate the premise or sell with them in place. Would rather not do a cash for keys or bonus at closing as we have kind of soured on them when it comes to money...but I am open to suggestions and strategies for getting through this as easy and quickly as possible.
What is the concern then ? Sell it off and they gotta go . Pretty straight forward really .
Would you recommend that we sell with tenant in place or give them notice to move out?
If it is a single family house, end their lease and move them out before listing. If it is a multi-unit or you are wishing to sell as an investment opportunity then sell with them living in it. If you do sell with them living in the unit make sure you put a lockbox on it and have the conversation with them that they will get a 24hr notice before a showing, but do not have the ability to decline the showing. I personally take it a step further and post a notice on their door whenever there is a showing set up so they can't say they never received a call. Hope this helps.