Selling tenant occupied units are a bit trickier than one might think. Generally speaking, you will find that they take longer to sell than homeowner occupied for several reasons.
You will need to provide the tenant with 24 hoots written notice, generally in writing to avoid any confusion to show a property, which is often difficult to accommodate, especially since many showings are set up with less than 24 hours notice to yourself.
In some cases you might the tenant disallowing showings even if proper notice is given, or they are not being accommodating with the times the buyer wants to see the rental unit.
Other problems you might find is that if the tenant is truly happy with the accommodations and do not want to lose the property, they might leave it in a mess on purpose, allowing the buyer to be turned off by it.
Keep in mind that when selling a residential property, if you do not have to worry about a tenant, the sale will result in more money for yourself and less time being spent on it based on the fact you will not have to go through many people to sell the property, just yourself.
Glen Chapman
Broker of Record with Club “100″ GMAC Real Estate
www.club100realestate.com
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