Don’t let your tenants rob you of a sale

With property prices starting to head in the right direction again, and demand on the increase too, many homeowners who have been letting their properties out of necessity are now contemplating selling.

However, rental homes can be more difficult to sell than owner-occupied properties, even in boom market, and landlords need to take especial care now that their tenants don’t scupper a potential sale, says Berry Everitt, MD of the Chas Everitt International property group.

“Tenants who don’t want to move can prove especially difficult, and their ‘tactics’ can range from the relatively harmless, like never finding a good time for an agent to show the property to prospective buyers, to the downright destructive, such as deliberate vandalism to ruin the appearance and appeal of the property.

“And then there are the sneaky tenants who, hoping to buy the property themselves at a rock-bottom price, will determinedly shadow any prospective buyers around the house and point out a string of faults, real or imaginary, in order to scare them off.”

Writing in the Property Signposts newsletter, he says that landlords who have not kept up regular inspections of their properties could also be in for some nasty shocks, and find that quite a lot of expensive repair work is necessary before these homes can be marketed.

“And even if the tenants are co-operative and the property is sound, the way it is currently being used may switch buyers right off. If dogs and cats are kept in the house, for example, it may smell so off putting that potential buyers won’t venture past the hallway.

“Alternatively, tenants may not be particularly house proud, and there’s nothing to spoil a first impression like a heap of dirty dishes in the sink, or a slew of unmade beds and a messy bathroom.”

Everitt says the best advice for the landlord who hopes to sell in the future is obviously to select tenants very carefully at the outset and to make sure that the property is well-maintained and kept bright and clean.

“Failing that, however, the landlord’s best course is often to give the tenant notice as soon as possible after the decision has been made to sell, then clean and prepare the empty property for sale and offer the buyer early occupation.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us