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Selling an Investment Property in Vancouver

 
Do we sell the property with the tenant in place or wait til the tenant moves out?

If you have a Vancouver condo, townhome or house with rental tenants. Should we sell with the tenants in place or should we sell it when it's vacant?


Things to consider when you want to sell your investment home in Vancouver:

  • Is this the tenancy fixed term?
  • Is the tenancy month to month?

If your rental investment property is a month-to-month tenancy

You cannot get vacancy unless the tenant gives notice that they will move out.

Unless you plan to move a relative into the property and give your current tenants two months notice.

Or lastely, where you will make substantial renovations to the property that require permits.

Why fixed terms may work best when you are selling your tenanted investment property in Vancouver

You can tell inform the tenants that you will not be renewing the lease when the term is complete.

What makes a property the most sellable is:

  • when the property is accessible, and that means vacant. 
  • How the property "shows" will also affect the ease of sale. That means, what will it look like to potential buyers. If your tenants have their own furniture and you are not able to stage the property, it may not show well. The home may be cluttered, dirty or the garden and patio spaces may not be kept tidy. 

Alternatively, If the tenants are cooperative and the property shows well, it may be easy to get the investment on the market right away. If not, it may be best to wait until the propety is vacant.

To review your particular situation, please give us a call: 604-657-7936 

Let us know in the comments below if you have a real estate question.

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