selling apartment - tenants in situ

M

McGann

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Advise Please:
Good tenents renting for a year, asked to change contract from a fixed term to periodic one i.e. Monthly basis - I agreed.

I want to put apartment up for sale. I have seen a suggestion to offer a rebate to tenent for the inconvenience of viewings etc.

The rent is 800euro.

I would appreciate if someone could explain to me how the rebate works. Even to go so far as suggest a rebate amount.

If I am successful in selling the apartment. How much notice do I give the tenent?

Thank you in advance.
McGann
 
Re: selling apartment - tenents insitu

well your a nice landlord. Any property that i have rented it was written into the contact that i make the property available for any type of viewings. I've never once heard of paying the tenants for the inconvenience of it.

If you are now on a month to month lease with them, then when you have sold the apartment just dont renew the lease for the next month. Houses/apartments arnt exactly selling at the moment, and since they asked for the month by month lease, i think that they are planning on leaving sometime in the near future, i doubt you would of sold the apartment and organised everything before this.

As for whats a fair price....thats really going to depend on how much the house is viewed. I dont think it would be fair to offer 50 euro and then have 20 odd people turning up in a month ( just an example! ) but then to make it fair for yourself, you can give say 400 euro and then only have 1 person view the house. Also you will have to take into consideration, are your tenants going to have to be home while the house is being viewed, or if arranged before hand either yourself or the agent is allowed access to the apartment. If it was myself i wouldn't like the thought of other people being in my home when i wasn't there, so i would make sure i was there, at first i would probably be ok with the situation, but depending on how long this went on for i could get a bit fed up of it if i had to keep making sure i was at the house so it could be viewed.
 
Re: selling apartment - tenents insitu

If it was myself i wouldn't like the thought of other people being in my home when i wasn't there, so i would make sure i was there, at first i would probably be ok with the situation, but depending on how long this went on for i could get a bit fed up of it if i had to keep making sure i was at the house so it could be viewed.

I reckon it will take quite a while to sell in the current market as you say if it went on too long anyone would get fed up but I know the tenant is there mon-fri with their child, so they would always be there during the week and this is the reason I feel a rebate would help to ease the inconvenience.

 
Re: selling apartment - tenents insitu

well if it was me and I was there during the week anyway then it wouldn't really bother me that much. And a little off the last months rent or extra on top of the deposit when I leave I wouldn't say no to.

Ask the tenant what she thinks about it. You seem to have a good relationship with her so I'm sure you will be able to come to some sort of arrangement that suits you both.

If only all landlords were as thoughtful as you!
 
Re: selling apartment - tenents insitu

It may also be best for the tenant if you were to have specific times and days for viewings. Late thurs/fri or sat afternoons. Work it out with EA what is the usual times people want to view and work from there. There has to be some flexibility. How much can you afford to drop the rent by in order to be able to get the viewings while tenant is in situ?
 
Re: selling apartment - tenents insitu

rent does not cover mortgage at present, I guess the best thing would be to discuss my intention of selling apartment with tenent and see what the reaction is and their willingness to accomodate viewings etc. thank you for your replies.
McGann
 
You should definitely discuss with selling the apt with the tenant. Even if you offer a discount, they may be unwilling to let viewings happen, which is their right. Unfortunately I have tenants that won't even let me into my house, not to mind an estate agent - and they won't pay rent! See my thread about this..
 
Ouch GA thats not good. But in all the contracts i have had it has in them that i must allow viewings, but they would have to give me 48 hours notice. I've never liked the idea of having people look around my home, and i have questioned this before, but it came down to i either sign the contact or look for another house.

It only happened once that i was in a house when someone came to view and it wasn't the best of experiences which is why i've always tried to get rid of it in other contracts. They opened everything and had a good nose around, even sat on my sofa and said "oh it's very comfy" while bouncing up and down on it. Couldn't resist but to add it was actually my sofa and it wasn't staying in the house.
 
I can´t see how the idea of viewings while the tenant is in the house working out. I have been to see probably about 70 houses over the last 10 years and I have never once been at a viewing where anyone was in the house. I would imagine the Estate Agent would insist on them not being there and the house being clean and tidy. Frankly, a pain for them if they have to scarper on a regular basis leaving the house immaculate behind them, particularly if they have a small child. McGann, I would bite the bullet, give them notice and out up the house for sale after they had left
 
GVA said:
You should definitely discuss with selling the apt with the tenant. Even if you offer a discount, they may be unwilling to let viewings happen, which is their right. Unfortunately I have tenants that won't even let me into my house, not to mind an estate agent - and they won't pay rent! See my thread about this..
Click to expand...

Actually tenants are obliged to facilitate viewings for sale - but it has to be at a mutually convenient time.


I think that as a gesture of goodwill it is nice to offer some compensation, not least to try to ensure the apartment is shown in good condition rather than a thrashed state. Would agree, if only there were more landlords with the same attitude. Good luck with the sale.
 
bambam said:
Actually tenants are obliged to facilitate viewings for sale
Click to expand...

On what basis?

The tenant has the right to quiet enjoyment of the property, and need only allow the landlord access to inspect the condition of the property and to effect repairs.

So a specific clause would be needed in the lease to allow access for viewings.
 
Your tenants are on a monthly lease, give them a months notice and put the apartment up for sale when vacant.

I would not buy an apartment that had tenants in it even on a monthly lease as the reality is if the tenants decided not to move out there is very little can be done until the whole PRTB process has been gone through, which can take 12 months or more.

I would buy one of the many others out there that did not have this potential problem.
 
Check with Threshold - if the landlord wishes to sell the property tenants are obliged to facilitate viewings - have checked this numerous times. It has to be at a mutually convenient time.
 
bambam said:
Check with Threshold - if the landlord wishes to sell the property tenants are obliged to facilitate viewings - have checked this numerous times. It has to be at a mutually convenient time.
Click to expand...


Not in the slightest bit true.
 
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