People like me prefer a fully rented unstaged investment property over a fully staged empty property. Anything that effectively lowers the risk in a business that is synonymous with the word risk is stellar work.
I have liked your posts so I have been reading back through your older ones like this....
Raymond K Roberts
I agree with everything Ms Thompson has to say....in addition, have you considered giving your tenants a small incentive to be cooperative? I don't know what your relationship is with the tenants, however, I know with my own I often will offer a small reduction in rent for the inconvenience in showing the unit. If they benefit, they may be more cooperative in keeping things clean. Also listen to their concerns, are they scared of rent increases, or the unknown new landlord...perhaps offer a new lease agreement to protect them, and they will be more accomadating.
When you are selling investment property the buyers are aware that the owner is not living there. With the one that you are in. I would suggest that you have them show your unit first. If they have interest then have them show the other unit in your building. The other unit I would find the tenant that is most likely to help you in showing the property. Have them show that unit first. It is good for a buyer to see the units are bring in money. As far a staging a home it is more important on rental units that the outside of the building is in good condition and the building is in good condition. Buyers are aware that tenants might not pick things up or leave dishes in the sink. Selling investment property is far different then selling your own home. Buyers will look for positive cash flow, maintance and profit and loss.
I do not work in Wisconsin (although I was born in Madison...my grandfather was Phil LaFollette)
You have some great posts so far. In California there are a couple of principles that should help you.
First, the value of a rental property is the cash flow it generates. So it is in the best interest of the buyers to have the tenants remain. There may indeed be landlord tenant laws that REQUIRE them to remain, I don't know Milwaukie law.
Second, it is common in the sale of income property for the "showing instructions to read "inspection upon accepted offer". So unlike a residential sale, buyers are not allowed to inspect the property BEFORE they submit an offer. What a terrible inconvenience to the tenants.
So don't worry about the staging. Health and safety issues are one thing, staging is another.
Third, because the income flow is related to the value, at some point during the sales process you are required to provide financial statements. Part of that is a Rent Roll. In California the tenants are asked to certify the amount of their rents. So the buyer has an objective record of the rents being paid.
My recommendation is that you interview three Realtors and discuss your concerns about selling. Select the one you think can meet your needs.
I have a listing that has the same issue. Do your tenants have month-to-month or longer term leases? Long term leases will stay in effect even after you sell.
First, I would be very upfront with your tenants about your need to sell. Reassure them that they will have plenty of notice if you do accept an offer. Also, make sure you account for proper notice when agreeing on a closing date in the Offer To Purchase. When setting up showings, I would ask for 48 hour notice. You then have a little time to inspect your units before the showings and make sure everything is OK. Thinking out of the box, maybe you could offer the tenants a little bonus if they keep the units extra clean.
Please feel free to contact me directly if you have more questions at 262-354-1186.