Home Selling in Boca Raton>Question Details

b2ccb053, Home Seller in Brentwood, TN

I have an investment condo in Boca I would like to sell. I currently have a tenant on a month to month lease.

Asked by b2ccb053, Brentwood, TN Sun Jun 9, 2013

Should I try to sell with the tenant or move him out before I list?

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Russ Greenberg’s answer
Hi b2cc,
The first most important answer is make sure the tenant allows access and showings. A key box with his permission is the best route. One missed showing could cost the potential sale with the right buyer. Some investors would keep a good tenant to his or her benefit. But at least the monthly term gives you the ability to give notice to vacate for an owner occupant at closing date. Please contact me to discuss details to better assist you.
Russ Greenberg, ePro. Realtor
0 votes Thank Flag Link Wed Jun 12, 2013
I would work with the tenant about allowing reasonable showings with notice.

Mark Doring
Re/Max Complete Solutions
0 votes Thank Flag Link Tue Sep 10, 2013
Dear b2ccb053,

The way I see it...is why would you want your condo to sit vacant if you have a paying tenant? The second thing you want to ask yourself, is the tenant going to be easy for your Agents Showings? Third, if your tenant is super messy and it doesn't show well, this would be the only reason I suggest having him/her move out.

The market is hot with little inventory, and as long as you price your condo well...it will sell fast!. If you need help pricing it, and would like me to provide you a comparative market analysis it's my pleasure. You can email me at jen@agentboca.com

Always a pleasure!
Jen Sommers
Jennifer Sommers, Nestler Poletto Sotheby's International Realty
One South Ocean Boulevard, Suite 11 ⃓ Boca Raton, Florida 33432

O. 561.235.7777⃓ C. 786.390.9299 ⃓ F. 561.997.2614
Jen@AgentBoca.com ⃓ http://www.AgentBoca.com
0 votes Thank Flag Link Sat Jun 15, 2013
You can sell the property with or without the tenant. If you would prefer to sell sooner, rather than later, we can begin the process with the tenant in the unit.

If you would like to know the value of your property, please visit my website at http://www.amygivoni.com and click on "What Is My Home Worth?". Feel free to call with any questions.

Thank you,


Amy Givoni
Givoni Realty Corp.
Phone: 561-361-8555
Efax: 786-345-5806
Email: amy@givonirealty.com
0 votes Thank Flag Link Tue Jun 11, 2013
Greetings! Having a tenant in place will not affect the sale of your condo, espcially since you are now on a month to month lease. This is ideal for both another investor or a buyer who plans to live in the home -- An investor may opt to continue with the current tenant, and a traditional buyer will not have to honor a long lease, moving into the unit quickly.

I would love to further discuss the details on your Boca condo and let you know how I, backed by Sotheby's International Realty, can effectively market and sell your home. We have extensive global reach with over 600 offices all over the world (key in this current market), cutting edge marketing intiatives and campaigns, an amazing network of agents all working together to get homes sold. . . and from me, you can expect, unparalled customer service, professionalism, attention to detail and complete thoroughness. I welcome the opportunity and look forward to hearing from you.

Please contact me at your convenience at 561 777 3463, and please, visit my website at http://www.bocadelrayluxury.com to learn more about me.
All the best,

0 votes Thank Flag Link Tue Jun 11, 2013
OOOPS! I made a typo on my web address. It's http://www.kathleenfineman.com. And if you like email your condominium address to me and I'll run a comparative analysis to determine the approximate value and I can see the layout/details of the area and let you know what a real opinion is about how to show it.

Send address and unit number to kathleen.fineman@elliman.com and I'll get back to you, no obligation, quickly.

Kathy Fineman
0 votes Thank Flag Link Tue Jun 11, 2013
It doesn't matter. As long as the tenant will cooperate with showings, and move when the time comes, you can sell it with the tenant. If you want to get this going right away, you can. If you don't want to deal with the tenant's cooperation, you can wait until the tenant moves out.

Feel free to call with any questions. I would be happy to email you a list of recent sales in your development, to help give you some idea of value. Just email me the property address, and your email address.

Amy Givoni
Givoni Realty Corp.
Phone: 561-361-8555
Efax: 786-345-5806
Email: amy@givonirealty.com
0 votes Thank Flag Link Mon Jun 10, 2013
Depends on the amount of rent you are currently getting. If the rent is good you can put together a CAP rate analysis and show to an investor a rate of return. If it is not good then an investor will look at it as a place that they are putting money and the rate of return might be better on a different property. If it goes to someone who wants to live in the condo themselves then it does not matter either way. If you like I can help you calculate it a cap rate analysis on the rental. How much do you want to sell it for, how much is the rent, taxes, condo dues. Send me the info at swalton@shortsaleexperts.com and I will help you figure it out. Regards, Scott Walton
0 votes Thank Flag Link Sun Jun 9, 2013
When you list it, be sure to mention that there is a tenant there on a month to month basis. If the tenant wishes to stay, also state this aspect, along with the amount of rent the tenant is paying.

If the current rent you are charging will allow an investor to make a sufficient profit on the condo, then an investor is likely to jump on the unit when you put it up for sale.

If, however, the rent you are charging the tenant will not leave an investor with a sufficient return on his investment, you may have a difficult time selling it in that manner.

In that case, you will need to sell to someone who wants to live in the unit. Make sure your tenant is amenable to people coming in to view the condo before you put it up for sale.

If the tenant refuses to make the unit available, you will have to wait until he or she vacates before showing.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
0 votes Thank Flag Link Sun Jun 9, 2013
Call me. I can get it sold!
Dan Dohrn, Keyes Real Estate
0 votes Thank Flag Link Sun Jun 9, 2013
Several aspects need addressing: 1. What does the condo look like with him in it, as opposed to out of it? Has she furnished it and kept it in a condition that improves the eye appeal of the unit? Is it clean, bright and spacious (including closets) with your tenant in it. Does your tenant have a pet? smoke? cook smelly food? or on the positive side, are they a neat fanatic?

2. Do you need the income from the month-to-month desperately? If so, will the month-to-month agree to the staging suggestions of the agent you hire (since you're in TN, I presume by your email)? For example, I am a licensed Realtor Associate, but I have also taken staging courses and know how to present and stage a property to maximize what you have and get a top price quickly. Will the tenant agree to allow the home to be staged, if they stay?

3. Use an agent who has familiarity with renters if you're an absentee (i.e. Tennessee with a Boca property) landlord, so they can speak and be part of the negotiations and dealings with the renter in person. For example, my husband is partners in a large apartment building and his negotiation skills with renters are superior than mine, but my staging skills outdo his. Makes us a great team of Realtors.

4. Are they current in paying the rent? Are there children in the condo? Will they let the condo be shown freely? Does it look better furnished? Does it need repairs, touchup paint, etc..?

5. Is it more a seasonal condo or is it more a year-round?

and 6. Do you want to get the highest price possible or do you just want to dump it fast or a combination of both?

Regardless of which way you go and what professional Realtor you use, please feel free to email me and ask for my selling and staging tips -- since I'm educated and experienced in both, I have some really good ideas for you to use whether an empty or occupied property. If you'd allow us (Seymour and Kathleen Fineman) to see your condo and offer suggestions and give you a listing presentation, we'd appreciate that also. I'm sure you'll find the two of us to be the most qualified to handle the task.


Kathleen Fineman
0 votes Thank Flag Link Sun Jun 9, 2013
Leave him in there . You will still be collecting rent if it doesn't sell quickly .Otherwise it could be vacant for months , and that's revenue lost .
0 votes Thank Flag Link Sun Jun 9, 2013
Since the tenant is month to month I would say u can market the home with or without the tenant. I believe landlord tenant laws give the landlord the right to give 15-30 days notice for the tenan to vacate. I would say market it with and without the tenant which opens the property up to more buyers.
0 votes Thank Flag Link Sun Jun 9, 2013
If the tenant does NOT cooperate with your doing showings, and you want to evict him, get an attorney who specializes in evictions.

Marilyn Jacobs
0 votes Thank Flag Link Sun Jun 9, 2013

Depends on how accessible the tenant will make the condo for showings. Please contact me and I would be happy to help you. I found a buyer for my last listed condo within 6 hours of listing. Please call it email me to discuss.

Lilia Biberman, PA
Coldwell Banker
Residential Real Estate
0 votes Thank Flag Link Sun Jun 9, 2013
Hi there! As long as the tenant is willing to show the condo (and keeps it neat and tidy) I'd say go ahead and list it. Since it's a month to month lease, then it won't deter potential buyers that would like to close within 30-60 days (which is standard). How much notice do you have to provide for them to move out? I'd be willing to provide you a complete market analysis of the current value of your unit, at no obligation!

Jolie Abreu, Realtor®
Illustrated Properties
(561) 288-0279 Cell
(561) 922-6320 Fax
0 votes Thank Flag Link Sun Jun 9, 2013
I would consider two factors. Does your condo association have any rules regarding new owners ability to rent and whether your tenant has a problem with allowing showings. Talk to your tenant to let them know that you are interested in selling. There is a very good possibility that the new owner would want to buy a place with immediate cash flow and would want a good/reliable tenant. However, the tenant would also have to realize that the sale may result in them having to move out. If you like your tenant, give them the courtesy of having the choice.

Mark Doring
Re/Max Complete Solutions
0 votes Thank Flag Link Sun Jun 9, 2013
That all depends on the tenant.

If you have a good relationship with him/her, talk to the tenant about your desire to sell, and see if they're okay with showings, based on Realtors giving 24-hour notice beforehand.

Also see how the tenant feels about such things as being present for all showings, or having a lockbox on the property. If the tenant feels comfortable with your Realtor, he/she may agree to showings when they're not present, provided your agent accompanies all showings.

Selling a home with a tenant in it can be done. It just depends on the people. Good luck.
0 votes Thank Flag Link Sun Jun 9, 2013
I would be happy to help you sell your condo. Contact me at 954 461-3041 and I will make you an attractive offer.
Fred Keats
Broker Associate
Majestic Palms Realty
Boca Raton, FL.
0 votes Thank Flag Link Sun Jun 9, 2013
First try to sell with the tenant there and say it is month to month. That might bring an investor, or if not, a buyer would know he would have immediate occupancy upon closing.

If you would like to get maximum exposure to sell your condo, please contact me to find out how I will do that so we can sell your condo quickly and at the highest possible price.

Marilyn Jacobs, Realtor
Jeffrey Ray & Associates
0 votes Thank Flag Link Sun Jun 9, 2013
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