7 Things Every Landlord Needs to Know

Q. Any practice advice for a landlord that plans to sell the rental property soon?

A. Here are 7 things that I believe every landlord should do:

1. Do not sell with the tenants still live there, because it creates difficulty for the new buyer, also very difficult to sell with the tenants still live inside it.
2. Put up fresh paint, clean up if needed, do proper staging, these small investment will have the biggest payoffs.
3. Time the lease to about 1 month before the peak selling season.  This means advanced planning of your last lease agreement with the tenant.
   
4. Always inspect the rental property before putting on the market (it just costs $350, but you could prevent any landmine that might jeopardize the closing)
   
5. Light staging goes a long way.
   
6. Weekly check ups by the listing agent so no surprise happens, since no one lives there anymore.
   
7. Don’t over price it (a property that sells in the first 30 days always sells at higher price).