Listing a property for sale with a tenant in place is a tricky situation. Here's some things to know.
When a tenant is in place in a property, they have several rights, including the "right of possession," and the "right of quiet enjoyment." Because of this, things can be a bit tricky when trying to sell a rental property with a tenant in place. We have to be very careful to not disturb the tenant's "right of quiet enjoyment," which basically means that they get to live in the house without being unreasonably disturbed.
Sometimes an owner needs to sell a property while a tenant is in place. When that happens, we need to make sure it's done the right way in order to protect both Revolution and you as the owner from litigation. If a tenant's right of quiet enjoyment is disturbed, then it can lead to lawsuits, and we definitely want to avoid that for both of us. We also have to be careful about who accesses the property while a tenant is in place. Allegations of theft, harassment, etc. can be serious problems.
For these reasons, Revolution only allows our employees and our approved vendors in a property while a tenant is in place. This ensures that our insurance will cover us if there is a problem with the tenant. We cannot allow real estate agents from other brokerages, vendors from outside our approved network, or other individuals into a house that a tenant is occupying.
This obviously makes property sales with a tenant in place very difficult. While you can certainly list the property with another broker while a tenant is occupying the property, that broker will not be able to show the property, which basically means that it won't be sold.
While a tenant is in place, the property would really need to be listed for sale by Revolution if you are in a situation and need to get the property sold before the tenant vacates. That way our employees can handle showings, inspections, etc. Of course, we gladly offer our property management clients discounts on sales commissions, so this should be good news for you, anyway!
Please let us know if you would like us to get your property listed for sale.