Wanting to Sell Your Rented Property? Read This

Author
YNM Real Estate
Date
17 December 2021
Category
News

As a landlord, you have the option to sell your property if you choose - however, if your property has a tenant in, then there are a number of provisions that will govern the process.

Your tenant has rights under the Residential Tenancies Act 2010 and the Residential Tenancies Regulation 2019. We always recommend working with your property manager when embarking on this process as we’ll be able to best advise you.

What happens if your tenant wants to leave

If your tenant wants to leave, even while on a fixed term, they are entitled to if you are selling your property.

How to go about showing the property to prospective buyers

As the landlord and owner, you do have the right to show your property to prospective buyers. However, if you have tenants in your property, then you will need to follow these steps:

  • You must give written notice at least 14 days before the property is first made available for showing
  • You must make all the effort to find agreement with your tenant for when you will bring potential buyers for a viewing.
  • It’s important to work with your tenant and their availability. Your tenant does not have to agree to more than 2 viewings per week.

    Taking photos of your property

    You’re able to take photos of your property from the outside. You’re also able to take photos of the inside of your property, however, you may only do this once in the 28 days before marketing starts or the agreement ends. It’s important that you:

  • Give your tenant reasonable notice of access to the property,
  • Give your tenant reasonable opportunity to move their possessions and belongings out of frame of your photo or video.
  • Work with your property manager

    It’s always advisable to work with a team that has experience and expertise in property management. There are many other rules and regulations you will need to adhere to if you’re wanting to sell your property that has a tenant occupying it.

    Need help with property management services in Sydney? Give us a call today!

    YNM Pty Ltd T/AS YNM Real Estate © 2020

    ABN 99 605 376 449

    Corp Licence Number 10034936

    Authorised Credit Representative Number 478307

    1300 588 855
    1300 552 782
    4/221-233 O'Riordan Street, Mascot NSW 2020
    YNM Proudly Supporting
    linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram