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Written by Mike Stewart PREC – Updated June 20, 2019
Be Nice to your Tenants! Ensuring a Good Landlord-Tenant Relationship Will Save You Money and Time
Selling tenanted properties in BC can be tricky and if done wrong, very expensive. Your tenants have been supporting your investment and helping you pay off your mortgage. Treat them like a partner when selling and it will save you money and stress.
3 Ways to Keep Your Tenants on Side When Selling A Property
1) Treat tenants courteously and professionally One of the best ways to to keep your costs down and stress levels low is to ensure a good and professional relationship with your tenants. Remember the “Golden Rule“? People tend to reciprocate good behaviour, so be nice. When you’re selling you want to have your tenants onside so they will be willing to show the suite and cooperating with the marketing and sale. A suite that is shown to more people will get higher offers.
2) Give them plenty of notice you’re selling (several months) Let them know your plans are so your tenants can plan accordingly AND prepare your suite for sale. A clean, tidy, and uncluttered suite takes time to prepare and tends to sell for more money sooner.
3) Keep them in the Loop People like to know whats going on with their home. If they know whats going on they are much happier and cooperative than if they don’t. ALSO they might be interested in buying the suite themselves. Good way to save even more money!
Unhappy and non-cooperative tenants will cost you money and stress you out. They have the BC Residential Tenancy Branch that is very good at making your life miserable as a Landlord if you treat your tenants badly.
So remember, be nice!
I’d love to hear your thoughts on this in the form of a comment!
Looking for Advice on Selling a Condo in Vancouver? Check out these series of Videos on How to Sell Your Condo in Vancouver!
Researching Presale Condo Investments? Check out these Videos on Vancouver Presale Condos!