Listing a Home with a Tenant

[Caden Lucas]

Not sure if this is the right forum but I figured I’d give it a shot. I’m a real estate agent in NE Ohio and I currently have a listing that is being rented out to a tenant. This is my first listing of this nature and I’m not exactly sure how to market it. I want to market it to investors which is why I’m here. Those of you who are investors, how would you like to see a property like this marketed? What do you look for in a listing of this nature? Those who are real estate agents, how would you go about marketing this? Any help would be greatly appreciated. Thanks guys!

[Patrick Drury]

@Caden Lucas
In Columbus at least everything is Curb offers only if it's tenant occupied. It also depends on what kind of lease. Is it a month-month or a year lease? If it's a year how much time is remaining on the lease? How much is the current rent? Does market rent show there is room for it to be raised? Do you know the age of the mechanicals (people will ask)? Even if it's curb offers only still get pictures of the inside to put up on the listing. At the end of the day, the price needs to make sense for investors to be interested. If the price is too high investors won't want it and some owner-occupants won't want to be someone's landlord if there is a substantial amount of time left on the lease, and others might not qualify if it's a low money-down owner-occupant loan and the buyers need to occupy it by a certain date. The best case is the tenant's leases are month-month. Assuming the price makes sense for an investor, they could buy it and give the tenants a 30-day notice, and either kick the tenants out and put tenants of their choosing in place instead of inheriting tenants or raise rent to market. If they are an owner-occupant buyer, they could give the tenants a 30-day notice right away and then move in once the tenant has moved out.