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Updated over 9 years ago on . Most recent reply
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Want to sell property that still has tenants
I am at the stage that i want to sell the investment property that I bought as my first one a few years ago. I am feeling pretty sentimental about it, but the problem that I have is that I still have tenants in there. I've looked at many occupied properties before from a buyer's perspective, but this is the first time I am selling one myself and am looking for a little guidance as to how to proceed delicately as the tenants are pretty loyal to me as a landlord and I am assuming aren't going to take news of the potential sale well due to the uncertainty of a new landlord and whether or not they will continue to honor the existing lease.
They currently have about 5 months left on their existing lease and although I would love to wait until their lease is up before selling, at the same time I don't want to sell the place in the late fall/early winter.
Any advice (or additional qualifying questions) appreciated. Thanks in advance!