If You Are Selling A Rental Property It May Be Best To Sell Just Before Or Just After Your Tenants Move Out

Property values are high and they seem to keep getting higher.  That statement is not true for all locations, price ranges and property types -- but overall, the local median sales price keeps increasing.

This dynamic has resulted in some owners of rental properties deciding to go ahead and sell those rental properties... which is a welcome turn of events for first time home buyers who are often looking to buy the same properties that may currently be rental properties owned by investors.

So... if you are planning to sell your rental property... when should you do so?

Your best bet will be to list your rental property for sale either just before or just after your tenants move out.  If you list within this timeframe, your property will be able to be considered by owner occupant purchasers as well as other investor purchasers.

In contrast... if you list your rental property for sale while the current tenant still has six more months on their lease... the lease will convey to and be binding on the new owner... which means owner occupant purchasers won't be able to consider the purchase of your property... and your property will solely be appealing to investors who would take over the lease.

So... if you want to expose your rental property to the widest pool of potential home buyers... we should wait until you have about 60 days (or less) remaining on the lease... or wait until just after your tenants move out.