Selling Your Tenant-Occupied Southern California Property

Long Beach Real Estate Podcast with Tim Majka

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Recently, I talked with a past client and they asked an important question: "How do you sell a property occupied by tenants?" Today, I'll share a few tips on selling a tenant-occupied property for a premium price.
Identify if you need to disturb the tenant at all. If the property is a single-family home, condo, or townhouse, and you expect that the buyers will want to live in the property, then yes, you will need to work with the tenants.
My team and I make this process a win-win situation for you and your tenants. We don't want to hassle the tenants, but we want to we show the property to all interested buyers in order to get the highest price.
For example, we recently listed a condo where both tenants worked during the day. We had showings on Wednesdays and Thursdays, and then for a two-hour block on Saturdays. The tenants didn't have to keep the house ready for showings every day, and we still showed the property to all interested buyers. In fact, we got three offers that Wednesday, and another three on Thursday. Even though we had limited showings, this property will be the highest sale in its building. Being tenant occupied did not affect our ability to sell the property for the highest price.

If the property is a multi-unit property, such as a duplex, and we expect the buyer to be an investor, we may not need to disturb the tenant at all. We price the property on the market and let potential buyers know that the property is being offered subject to inspection. Once we receive an offer, we will open up the property for a showing.
This is a common way to sell multi-unit properties. Once all the offers are in, we schedule a time for the buyers to walk through the property. You still need to communicate with the tenants, but it's only to set up one showing.
We recently sold a five unit property with multiple offers. We only disturbed the tenants once, and ultimately, the property sold above asking price.
As you can see, selling a tenant-occupied property is not as difficult as it may seem. If you have any questions, give me a call or send me an email. I would be happy to help you!