Sample letter letting tenants I am selling

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Latest post 04-17-2007 9:12 AM by Drew. 4 replies.
  • 04-15-2007 10:38 AM

    Question [=?] Sample letter letting tenants I am selling

    I need a good sample letter to my tenants that I am selling my rentals this year. I did tell them last summer about my intent, but they were not able to purchase the place due to financial reasons. I am aware of the laws and tenants act. I just need a good letter informing them of my intent and that I will need to have access to their residence so the agent can take pictures and advertise.

    I want to inform the tenant that we are not going to do a MLS listing so every and Harry will be viewing the place. We are trying to take another approach to selling the units with little disturbance to the tenants. We had the same great tenants for over 10 years, so this will be very difficult for me to break the news to them and to inconvient them during the sell.

    If you can please give some advice on how to gently handle this situation and a nice letter to go with it.

    Any help appreciated.
  • 04-16-2007 11:27 AM In reply to

    re: Sample letter letting tenants I am selling

    We're not here to draft a "nice letter" for you. I'm not sure why you need a "sample letter" from us in the first place. Assuming your lease or, absent that, state law provides that you can show the place to prospective purchasers, you're okay in terms of reasonable interruptions. As for the "every and Harry viewing the place", you may have a problem in terms of meeting your state's advance notice of entry provision, if any.

  • 04-16-2007 2:05 PM In reply to

    • Drew
      Consumer
    • Top 10 Contributor
    • Joined on 03-30-2000
    • PA
    • Posts 49,406

    re: Sample letter letting tenants I am selling

    Your biggest problem is to make sure your tenants are at leaast agreeable to having fooks troop thru--no matter what the lease or law says--they can trhwo roadblocks into same if they so chose--or deliberately make it unattractive to potential buyers...and sometimes the agent you select provises you kid gloves but in reality the "other" agent actually doing the showing walks all over common courtesy for a tenant and now you have "problems"

    I do not think its how you word a letter-but how you sort of schmooze the tenant overall. You want the tenant be be "cooparative"--and it that takes a good bottle of scotch --well so be it.

    And it there is even the remote prospect that hey have an improved interest/ability to buy it may be prudent to at least ask them about buying it of $XX before you go to relist it--if they say "no" that sort of also is a good time to say you need to move forward with plan "B"



  • 04-16-2007 7:57 PM In reply to

    Feedback [*=*] re: Sample letter letting tenants I am selling

    DREW; You are absoluty right, shmoozing the tenant is the best approach and hopefully not get their back up against the wall is what I am trying to avoid. This is my plan B approach since I did let them know a year ago that I was planning on selling. My agent advice us not to list on the MLS listing to avoid high viewing traffic, it may take slower to sale but I think this is the best way to handle the sale. Thanks for your kind advice.


    FXSTON said; "We're not here to draft a "nice letter" for you. I'm not sure why you need a "sample letter" from us in the first place"

    I posted a message here because I thought I would at least make contact with one landlord who had to let good tenants know that they plan on selling their rentals due to unfavourable circumstances. I was looking for a more personal approach rather than one form a legal point. I don't really anticipate any problems but just wanted my wording of the letter to my tenants not provoke a problem by sounding so negative. But thanks for your advice anyhow, whatever it was.
  • 04-17-2007 9:12 AM In reply to

    • Drew
      Consumer
    • Top 10 Contributor
    • Joined on 03-30-2000
    • PA
    • Posts 49,406

    re: Sample letter letting tenants I am selling

    What they said last summer may be subject to change--might they be in a position to buy now?

    As both a LL and a buyer/seller its often to my advantage I think when selling to have a unit "empty"--especially if one is seeking to attract an owner occupant.

    If its strictly investment it maybe useful to bump up the rents as best I can to demonstrate a higher paper cash flow

    And I may NOT want to renew a long tem lease under any circumstances lest it be a drag on sale?

    You may want to control traffic but I'm not so sure a nonMLS list is the best tool--except to assure the agent a full commission--how convenient--you can most certainly have a MLS listing but have your agent control practice by insisting upon 48 hrs notice AND your agent must accompany all visitors --or some such restrictions. One seller made it so tough to see his place , limited the hours and even got to point of having you take off your shoes to enter that folks lost interest--I probably bought it for about 40% less than what seller could have gotten with a more enlightened sales approach!



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