May 10, 2019
Have a rental property that you are looking to sell? This is a process that can be a bit more difficult than selling a home traditionally. When selling a rental property, you have to decide a few things: whether you want to sell to an investor, how you are going to calculate projected rental income, and whether you are going to have the tenant stay in the property during the process. Fortunately, there are ways that you can make the process of selling a rental property a bit easier. Here is how you can get started:
Learn How To Conduct Showings For A Renter-Occupied Property
During the process of selling your rental property, you are probably going to have a tenant still occupying the premise. This can make showing the home difficult. You want to work with your tenant so that you can show the home to prospective buyers when you need to. That means offering incentives for your tenant to make their lives easier during the sale. You may want to offer gift cards for a local restaurant so that your tenant can leave the home during showings–you want your prospective buyer to have unfettered access. You also may want to think about hiring a cleaning service to keep the property looking tidy as well. This reduces the amount of work your tenant has to do and builds some good will.
Consider Selling To Other Real Estate Investors Or Even Your Tenant
Selling to real estate investors is often preferable because they understand the full value of the property and know what they are looking for. They may also buy with a tenant in a property. A tenant also may be interested in buying the home, and if they have steady cash flow and good credit, they may be a good candidate. If they can get pre-approved for a loan, then you may be able to sell quickly.
Calculate Projected Rental Income For Prospective Buyers
Prospective buyers are often investors who want to know how much they can expect to make from the property. Most rental property owners provide prospective buyers with a 10-year projection of the property’s rental value. However, some are only concerned that they rent payment will cover the mortgage. So make sure to find out what each investor is looking for.
Having The Tenant Stay In The Property Could Make The Sale Easier
When your tenant stays in the property, a buyer will be getting cash flow from day one. It will also allow you to continue getting rent checks until the deal is closed and finalized. Keeping a good tenant in place is often the most preferable option.
If you want to sell your rental property quickly, without having to go through the process of calculating projected rental income for prospective buyers or conducting showings while your tenant occupies the home, then you may want to consider selling to 4 Brothers Buy Houses. 4 Brothers Buy Houses buy rental properties and can give you a free, no obligation quote on your property immediately. You don’t have to think about expensive home repairs or spending money to improve your home’s curb appeal. Avoid the hassle and frustration that comes with selling a rental property by selling to 4 Brothers Buy Houses for cash.