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  • New Tenant / Sell property

    I want to get a new tenant but i want to sell the property at some stage. Im not sure when. Auckland

    When a new tenant comes on, whats the best way to go about this? fix for 3 months at a time? 6 months?
    Last edited by investorak; 19-06-2016, 09:20 PM.

  • #2
    Originally posted by investorak View Post
    I want to get a new tenant but i want to sell the property at some stage. Im not sure when. Auckland

    When a new tenant comes on, whats the best way to go about this? fix for 3 months at a time? 6 months?
    Doesn't make much difference, really. If you're looking to sell in 3 months, then give a 3 month fixed term tenancy and then let it roll periodic afterwards. But if you're 'not sure when' just act as you usually would.

    You can sell a property to another investor with a fixed term tenancy in situ, or you can wait for the fixed term to expire and then sell it. Tenancies and sales don't need to affect each other all that much.
    AAT Accounting Services - Property Specialist - [email protected]
    Fixed price fees and quick knowledgeable service for property investors & traders!

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    • #3
      If you have no idea when, really, what's wrong with a periodic tenancy?

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      • #4
        There is nothing wrong with a periodic tenancy and I would recommend that for your situation. Of course, once you are serious about selling then you need to inform your tenants of this. Good luck.
        www.PropertyMinder.co.nz
        # Property Management
        # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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        • #5
          I would fix them into an agreement but be upfront to them that your selling, you need to be fair and reasonable.

          Fraser
          Fraser Wilkinson
          www.managemyrental.co.nz
          Wellington / Lower Hutt / Upper Hutt / Porirua

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          • #6
            If you want the property looked after I would decide when you are going to list it then rent it for a fixed term to suit. If you rent and advertise it may be a short tenure due to selling you simply won't get a good tenant easily. Better to advertise it as a fixed say 6 month rental with no extension then you might get someone looking specifically for a short term.

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