Your Lake Arrowhead Realtor would like to share some local Lake Arrowhead Information with you.
If you're a landlord and decide to sell your property, your first thought may be,"Should I EVICT my tenant/s before listing?" I say YES. Now I realize this isn't an easy decision. It means you'll be losing monthly income until your place sells and in these rough economic times, no one wants to be losing money.
However, leaving the tenent in the home may mean the property will be sitting on the market MUCH longer than it normally would take to sell it. WHY, you ask? I'll tell you.
- Renters are not usually keen on the idea of moving.
- Renters may NOT make it easy to show the property, because they DON'T have too.
- Renters generally do NOT cooperate with Realtors/Agents.
- Renters may not keep the home looking as "spiffy" as you would.
- Renters can require a 24-hour notice before showing.
- Renters do NOT have to let you (Realtor/Agents) put on a Lock Box for easy access. In fact, more often then not, they will not let you.
- Renters are NOT good about returning calls to set up appointments to show the property.
- Renters often like to point out to a buyer all the negatives about the home to discourage the buyer, regardless if they're true or not.
These are just a few"maybe's" that could happen when you're trying to sell your home while it is rented. So think long and hard about leaving your tenant in the property while you're trying to get it SOLD.
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IF you're thinking about selling your Lake Arrowhead home, keep in mind, you want a company/Realtor who can get your home ALL the exposure possible. A "Private" Board has limitations. When I sign a contract with you, I am promising to get your home THE BEST POSSIBLE EXPOSURE.
Yes, this is quite the dilemma...I have a listing that has tenants in it right now and they are college students...ahhhh
I agree with you- even when showing houses and I see that it has to be approved by a renter- I feel discouraegd instantly... Usually it is not the house for my buyer and it will be awaste of time...
With tenant rights and without a sales clause in the lease, it's almost impossible to evict renters... not to mention morally wrong since they signed a lease and are holding-up their end of the bargin. In my opinion, the homeowner has made an agreement and should stick by it until the lease expires.
Peggy; of course they MUST adhere to a lease and wait for it to expire. However, if there is no lease, just a month to month, I think maybe advising the tenants that you are selling the home and giving them notice would be a big benefit to the seller.
Such a dilemna but I hope that you can part friends and not actually have to evict. These poor renters are being thrown around in this market.
Karen: it absolutely a bad time for renters. AND sellers and buyers. But if the seller is in a position of having to sell, they'd be better off sharing it with their renter and having them find another place. It would be great to end up on good terms, and I see no reason why they couldn't.
I personally haven't had to evict a tenant, ever, but if I were to sell one of our rentals, we'd have too.
Kat,
I agree with doing your best to have the tenants move out prior to listing the property...however that's not an easy task. You could ask them to move out and say you are doing major renovations or are having a family member move in; here that would be legal grounds for eviction.
Jo
Hi Jo; It is always difficult asking renters to move, and no one really wants to make a hardship on theie renters. I certainly don't. Here renters have tons of rights, so you must go by the book. I would just have a straight talk with them and, unless they'd like to purchase the home, I would give them "plenty of notice."