Handling the sale of an occupied rental property can be challenging. If you’ve made the decision to put your property on the market, you will need the cooperation of your existing tenants in order to make the best possible impression on prospective buyers.
The reasons a landlord may want to sell a house may vary. Whether property demand is on the rise, the rental property has increased in value, or the owner simply wants to sell the property, proper notice must be given. No matter what the reason for the sale, the landlord needs to notify the current tenants occupying the premises about the impending sale. When a landlord puts their property on the market, prospective buyers and real estate agents will need to do a walk-through of the premises. A landlord should inform their tenants of their intent to sell and enlist their cooperation in the sales process with this straightforward letter.
The ezLandlordForms Sale of Property notice allows landlords to notify the current residing tenants that the property has been put up for sale. This form will give the current tenant(s) fair warning that the landlord will be scheduling multiple walk-throughs of the property for prospective buyers. When a landlord gives this form to a tenant, it ensures that the property will be in presentable condition to show the property to prospective buyers.
Not only is it fair, it is also polite to inform tenants as far in advance of any showings as possible, or in a timely manner about the property being up for sale. This gives both the current tenants and the landlord an appropriate amount of time to make sure the rental property is in pristine show condition. A landlord should use the Sale of Property notice before or quickly after putting their rental property on the market. As soon as the landlord decides to sell would be the best time to inform their tenants.