One of the most common questions I am asked is "Should I sell my property with tenants or vacant possession?" The majority of the time a property is better off to be sold without a tenant. Of course this means that you are sacrificing an income whilst the property is on the market and if you property is most suited to an investor, having a paying tenant already can be an advantage. But here are the reasons a vacant property may get a higher sales price:
- You don't have worry about giving notice to a tenant for each open for inspection
- Your photos won't be of the tenants furniture, you will have more control of how the property is presented
- Buyers feel more comfortable and spend more time at a home that is vacant
- Home owners tend to pay higher prices than investors so not having a tenant may indicate subconsciously that it is more suited for an owner occupier