Better to sell with or without active lease?

[Michael G.]

I own a condo with a tenant under lease for another few months. I’m thinking about selling it and am looking for advice as to whether I’m better off renewing the tenant’s lease and then putting it on the market vs. not renewing the lease and putting it on the market after the tenant vacates. My property management company can market the leased property to other investors, but I know there will be more prospective buyers if I open it up to the broader market, so I may get a better price. Maybe I just answered my own question…

[Theresa Harris]

Better without a lease.  Many people who buy it may want to live there.  Talk to the tenant before you list it as they may want to buy it.