Selling Your Crested Butte Home With Renters
If you are second homeowner then renting out your Crested Butte when you’re not there is a great idea! It does tend to make things a little more complicated when it comes to selling your Crested Butte home however. Similarly to most mountain towns, Crested Butte has a lack of long-term rental options, and so the renters in your home are probably super happy to be there. They may not want to leave. They may not want anyone to buy your home and disrupt the good thing going for them. Selling your Crested Butte home with renters can be difficult. Doesn’t matter whether they’re long-term or short-term renters. Each of these scenarios comes with its issues.
Difficulties Showing the Home
Your tenant can make a huge difference in the appearance and impression of your home. Your motivation to sell and the tenant’s motivation to ensure your home shows in the best condition may be in conflict. Listing agents get text messages like this frequently: “Hey, I drove by 101 Main Street and my buyer wants to see it before they leave town – can we get in there in one hour?”. If the home is vacant, this is simple. Your home will get one more showing, and you may suddenly have your buyer. If the home is rented, the listing agent or showing coordinator in the office will have to try to get ahold of the renter to see if it is okay to have a showing in one hour.
Working With Your Tenants or Property Management Company
At a minimum, you should modify your rental agreement and make the renters aware that the house is for sale. Inform them that the home should be well kept and presentable for showings, and they should be accommodating toward showings. If you are not willing to terminate the rental agreement, then you should provide a discount (motivation to the renter) for their being inconvenienced.
If you are renting the home via a third party property management company, this can also be problematic. Most property management companies do not want their customers to be bothered during their stay (especially short-term renters in very expensive homes), and may not allow showings when the home is occupied. If the rental company will allow showings, it may be a challenge to deal with them, as they are not motivated nor incentivized to rapidly confirm and respond to showing requests. Let your listing agent know when the home will be occupied and when it is vacant.
Terminate Rental Agreement or Property Manager
Everyone would like to have their cake and eat it too, but if you want to sell your home sooner and for top dollar, my recommendation would be to provide a termination notice to your tenant or third-party management company subject to the terms in your lease or management agreement. You should look at your priorities and decide how important the rental income really is to you. Will accommodating your renters for six months equal the value of selling your home in that same timeframe?
Selling Your Crested Butte Home With Renters Final Thoughts
I hope you see the level of detail and time and effort I put into this candid article Selling Your Crested Butte Home With Renters. I have become a Top Real Estate Agent in Crested Butte by providing my clients with information and insight. This helps my clients to make informed decisions. Some decisions are not always easy.
This article is an example of what you can expect from me as your agent.
How can I help you?
I have over 30 years of sales and marketing experience and am a top real estate agent in the mountain town of Crested Butte, Colorado representing affluent clients who are buying and selling their homes and properties. To see featured properties or search the MLS – visit chriskopf.com.
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