We understand the needs of our investors. If you are considering the sale of one investment property, or the direction of your extended portfolio, we can assist you with your selling decision.
Our situations are constantly evolving as our lifestyle changes. Here are a number of reasons why our investors sell their investments:
- Upgrading investment and net value, great for down markets
- Lifestyle, upgrade to your own home
- Reduce Debt, commonly a lifestyle decision
- Changing investment types, ie Super or Shares as markets change
Selling an investment property is a little different to selling your own home, primarily because you have a tenant in place at the property. Apart from the marketing and presentation of the property, here are a few tips to help you understand how the sale process works with an occupied investment property.
- It is often best that your Sales Agent comes from the same business as your Property Management business. That way the sales agent has access to all the relevant information and has an existing relationship with the tenant, which is very important. Also should the new buyer be an investor, then we can ensure a smooth transfer of management, making sure all your accounting is correct.
- Inspections: Your sales agent will need the consent of the tenant to hold open homes, an onsite auction and also to display internal photographs on any marketing campaign. Getting this consent will assist your sale greatly.
- Tenant Rights: If you have just signed a new lease with your tenant (within 2mths) and you decide to sell and put the property on the market, the tenant has an option to terminate the lease and move out.
- Lease: Know the terms of your the residential lease. Any pending sale is made in the knowledge that these lease terms stay in place and cannot be altered without the consent of the tenant. Often investors wish to sell a property with a lease in place, however the purchaser wishes to move in prior to the lease completing.