Selling investment properties often comes with a few problems, none more so that when you have a tenant that is not happy with the selling process taking place whilst they are there. they can make it very difficult and in fact will often turn a prospective buyer against a property by ensuring that all the faults are talked about and all the negative aspects of the property revealed.
When we sell assets it is the practice to wash clean items so that they look their best, and of course selling an investment property is no different, except that you may not have access to do a clean up.
Sprucing up the property.
We have suggested before that by tactfully offering to have the place professionally cleaned and the outdoor area maintained, you may get the tenants onside.
But here is another suggestion.
Sell the property at the end of a lease. Get the property empty, give it a paint and a spruce up then bring in the professional property stagers.
The general public cannot visualise living in a house so staging a property works wonders.
FACT: properties that have been professionally staged (between $1000 and $5000) sells between 6 – 10% higher than otherwise. This survey was performed by a reputable real estate agency.
FACT: houses that are staged are selling in about 13.9 days compared to properties that are not staged in about 30.9 days.
DOING THE SUMS:
$400,000 property x 6% = $24,000 extra
Less Staging at max. cost = 5,000
Less 3 weeks rent = 1,200
EXTRA PROFIT FROM A STAGED SALE $17,800
How does that sit with your sense of making money?