There is no doubt that the absolute best way to get the most out of any investment property is to hold it long term.
For some though, the need to sell said investment may be great enough to go through the challenges that may arise in relation to the tenant.
As the Landlord / Vendor’s agent in Prudential Real Estate Ingleburn have experienced many, many, transactions conducted between property owner, tenant and prospective purchaser.
Today we would like to highlight what is essential if you are considering listing your investment property on the market for sale.
Correct Notices and Timeframes
Before even putting the property on the market it is essential the tenant is notified in writing of your intention. The timeframe required for this notice can vary from state to state in Australia but in New South Wales (NSW) fourteen (14) days written notice is required.
When it comes to inspections with prospective buyers there is a maximum frequency of two inspections per week. These inspections attract a minimum of 48 hours’ notice and they are not required in writing.
What Happens at Inspection Time
Whilst a tenant cannot unreasonably refuse entry if the appropriate notice has been given, there are times when an inspection is not permissible. They are Sundays and public holidays, as well as before 8am or after 8pm.
A tenant does not need to be present during these inspections. If they cannot be present it is within their rights to arrange for someone to be present, if they wish.
All care must be taken by the landlord or his agent to ensure the property and its contents are not tampered with in any way, shape or form.
A Tenant’s Rights
Whilst a tenant remains in the their Ingleburn property, their rights must be protect at all costs. They are entitled to reasonable peace, comfort, and privacy. A landlord or his agent must not interfere with, or cause or permit anyone to interfere with, your peace, comfort, and privacy.
However, it is always best to make allowance for the landlord and adhere to the rules and requirements set down for this situation. A tenant still requires good references to be able to move on into another rental situation.
If at any time, a tenant should feel these rules and requirements have not been adhered to they are within their rights to address the issue in writing. Should their claims not be satisfied they may have cause to make application to the NSW Civil and Administrative Tribunal (NCAT).
