“If you are considering selling your investment property and want to get the maximum sales price possible, there are several factors that need to be considered and undertaken before putting it on the market”, advises Pippa Rose, Lead Investment Services Manager.
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Preparing the rental property
Preparing the rental property involves several steps to ensure the property is in the best possible condition and can attract potential buyers. Our investment team can guide and help you achieve your desired results.
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Our Guide
Achieve your desired results
- Implications of selling when tenanted or vacant: what rights the tenants have through a sale and what to take into consideration.
- Understanding the lease tenants have signed: how that may impact your timelines, and what notice is required.
- Understanding why keeping the rent at market value is so important.
- The condition of the property: maintenance up to date, improvements to help achieve a higher sale price.
- Independent advice: sales services and commissions, referrals to sales agents…
- Discussing a potential sale with an accountant/financial advisor: GCT and mortgage fees potentially reducing anticipated profit.
- Providing Leah Jay with Conveyancer details: required information regarding tenancy, Notice of Attornment on settlement allowing funds to be disbursed correctly.
- Understanding the local housing market.
- Other factors that impact the sale and price.
Key Takeaways
- Preparing a rental property for sale involves ensuring the property is in optimal condition to attract potential buyers.
- Consider whether selling the property tenanted or vacant, as this impacts rights and considerations.
- Keeping rent at market value and ensuring maintenance and improvements are up to date can help achieve a higher sale price.
- Consult with financial advisors on potential impacts on GST and mortgage fees.
- Understanding the local market and various factors that impact sale and price is crucial.
Go Further
Allow us to help you Go Further and achieve the best sale outcome for your investment property, call Leah Jay Investment Services for advice and guidance on your property sale.
