Selling your rental property in Palm Beach County
When it’s time to sell your rental property in Palm Beach County, you have a decision to make: not only how to do this, but which Real Estate Agent or Firm to use. The decision you make will impact the total amount of money you are able to walk away with, not only from closing, but in the months that lead up to closing while you prepare, market and sell your home.
Things to consider when selling an investment property
Investment property’s primary purpose is, of course, to produce a return on your investment. Yet, when it comes time to sell that investment, some property owners choose to initiate such a sale either while the home is vacant, or in some cases they may even generate their own vacancy by forcing an already established and reliable tenant to leave! Most residential Real Estate Agents who are not also experienced in residential Property Management will want to the list the home while vacant because their primary goal is the sale of the home without the inconvenience of residents, furnishings and daily living issues. They want to sell the home so they can get their commission.
Your interests are not necessarily best served by this approach. Sure you want to sell the home quickly too, but before you get to closing, you’re the one carrying the costs of that property with a mortgage, property taxes, insurance, utilities etc. and you’re the one absorbing the loss of income while your investment sits empty and idle. What is more, while it may be attractive to a home buyer buying your home for their primary residence that it is vacant, who’s to say your buyer might not be a fellow investor who sees a vacant property as a liability which leaves him with additional risk while he seeks a new tenant of his own? His valuation of your property will drop, and in addition to the loses you sustain before closing, you may well walk away from the closing with less money in your pocket.
An occupied investment property can be beneficial
You’re investment property may well be more valuable to you and your buyer at sale while it is occupied by a qualified and reasonably reliable tenant. While most Realtors who handle only traditional sales, may chafe at this strategy, if you use our Company Home Property Management, to manage your property, you’ll find that our best interests align much closer with yours and you’ll have the added benefit that we will already have a working relationship with your renters that allows us to have the home presentable for showings which minimizes your loses while marketing and may well put more money in your pocket at the time of sale. We can even possibly arrange in advance how that tenant will vacate upon the closing of the house if necessary or, if the buyer is also and investor to give the tenant the option to establish a new lease with no resulting loss of income for the new owner.
This is only a small representation of the possible benefits to you, of using Home Property Management to both lease and list your home. Contact us so we can use our expertise in this field to meet your unique needs and create a plan to get the highest value from your investment while managing the risks to minimize any potential loss.
Call us today at 561-624-4663 or fill out the form to the right.