Buying and Selling a Tenanted Property

November 18th, 2020

In the current Mackay property market we are seeing more and more properties being sold while tenanted. There are strict legal requirements in place to protect the tenants when they have a current lease on a property which can result in longer contract periods or a new buyer taking on a tenant for the period of the lease agreement.
At Gardian we find the key ingredient to a successful sale and purchase of a tenanted property is communication.

Good, open communication between tenants and agents is what makes the difference between a smooth, successful sale or a bitter, messy non-sale. Respecting the tenants rights and working with them to co-ordinate photos, open home and inspection times allows agents to offer potential buyers various inspection options leading to a possible sale for the vendor. In some cases, in order to achieve the best result, the property would be better off being vacated before listing for sale.

With the current rental vacancy rate being at under 2% and a very high demand on properties to both buy and rent, effective communication is proving to be what makes or breaks a possible sale.

Gardian Real Estate agents understand how important communication is and work hard to provide open, relevant and up to date information when dealing with tenanted properties.
If you would like any further information regarding buying or selling a tenanted property then please call our office today and we can help with your enquiries.