What happens when a rented home is put up for sale? The chain of events happens rather quickly and often times priorities of the parties collide. Not all owners can afford to have their property vacant while on the market so enlisting the cooperation of the tenant is crucial. The first thing an owner or real estate agent should do is check with the management company. Ask about the terms of the lease and what the state statutes may say regarding a lease termination and the proper notice required to show the property.
Cooperation, communication and flexibility are key to having a transaction that can meet everyone’s goals. Once you’re aware of the notice period to show the property, it’s also helpful to be somewhat flexible with the tenant’s schedule. Everyone has lives- kids, pets, and jobs. Allowing the tenant some say in a schedule will help you gain access for other showings, inspectors, appraisers and contractors. Moving a family unexpectedly is costly, stressful and often not on a time frame under their control. In the end, the goal is to sell the house, have the tenant leave the property in good condition, and be able to assist them in finding a new home.
Washington Landlord Tenant Law
http://apps.leg.wa.gov/RCW/59.18
••Oregon Landlord Tenant Law••
http://www.oregonlaws.org/ors/chapter/90
Carmen Villarma, CPM
President
The Management Group
Property and HOA Management in Vancouver WA and Portland OR
http://www.TMGnorthwest.com
Property and HOA Management in Vancouver WA and Portland OR
http://www.TMGnorthwest.com
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