» » Can I sell my rental property? – Part 2

Can I sell my rental property? – Part 2

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Following my previous ‘Rental Tip’ at the beginning of this month, I thought I would add some more information on this subject, namely concerning:
1) Inspecting a rental property during the sales process

and

2) Termination of a tenancy agreement once the rental property is sold.

Inspections:

It is always encouraged for the landlord (via the selling agent or rental manager) and tenant to discuss the process of showing prospective purchasers the rental property, and any issues which may arise.

General guidelines for inspections:
• No more than 2 occasions in any 7-day period, unless tenant agrees to more often
• Agreement to the days and times should be done in advance
• Tenants must not unreasonably refuse to agree to make the rental available
• If no agreement can be reached, then reasonable notice (in writing) must be given between 8am and 8pm on any day other than a Sunday or public holiday
• Tenants should keep the property in a reasonable state of cleanliness. The word “reasonable” will differ for everyone who is affected by the sale and their current circumstances. Keeping open communication between the parties is the best solution.

Termination:
When the rental property is sold gaining vacant possession will depend on the type of tenancy agreement which is in place, either a “fixed” or “periodic” term.
Fixed term means exactly this, the tenant can stay in the rental property until the end of the tenancy agreement, unless all parties agree to an early date for the tenancy to finish. A tenant cannot be coerced into leaving.
Periodic term means the landlord must give the tenant at least 60 days written notice to vacate the property, if the term of the sales contract states the purchaser requires vacant possession.
Further to a periodic term, if a landlord wishes to obtain vacant possession prior to a sales contract being entered into, then 90 days written notice must be given to the tenant.

Call Lisa Akeroyd at Barossa Rental Specialists on 0414 335 660 – or drop into our prominent Tanunda office to discuss your rental strategy.

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