Selling a Tenanted Property: What You Need to Know
Selling a rental property with tenants in place can be a complex process, requiring careful planning and consideration. While it may seem convenient to have rental income continuing throughout the sales process, tenants often feel uneasy about the uncertainty of their living situation. Understanding the legal requirements, tenant rights, and the best strategies for selling a tenanted property can make the process smoother for everyone involved.
Do Tenants Stay or Go When a Property is Listed?
One of the biggest concerns when selling a tenanted property is whether the tenant will stay or leave once the property is listed for sale. The reality is that tenants may react in different ways, depending on their circumstances: