Question:
“Hi Gary, We have been on your mailing list for quite some time and we have always enjoyed reading what you have to say. The time has come where we would like to sell one of our rental properties. It is currently tenant occupied and we must give the tenant notice. Once it is vacant, we will need to prepare it for sale. We believe this is better than trying to sell it while the tenant is still living there….do you agree?”
Answer:
Whether you should sell with or without the tenant depends on a few things:
- Is your tenant a good housekeeper with nice furniture?
- Will the tenant be cooperative and allow a lockbox?
- How are the paint, carpet, flooring, etc.? Would it be profitable to redo them?
- Are you OK going 1-3 months without rent?
Let me know your answers to these and that will help me advise you.
