Date(s) - Jul 20, 2017
11:30 am - 1:30 pm
Stacey McKay, President of Property Management University, Inc. and a Real Estate Broker for nearly 25 years, has owned and operated multiple sales brokerages. As well as working as the Business Development Manager for Rental Home Management Services, Inc. for 8 years.
Stacey will discuss steps and processes to navigate the process when an Owner is considering selling their rental property. The dialogue Brokers and Property Managers should have when evaluating Owner’s needs and time frame. Agreement suggestions will be shared, that may protect the Management Company in the event the property does not sell. Imposing penalties if the Owner is not canceling timely to their Agreement.
Explore Dual marketing vacant properties when the property is being sold. Pros and cons of selling while tenant occupied vs. waiting until the property is vacant. When should you give a Notice of Non-renewal to the tenant? Steps and processes in working with the Realtor/listing agent, setting boundaries regarding interacting with your tenants. Tenant Negotiations will also be explored. Such as, what to do if the tenant still has time left on their lease agreement. What if the tenant wants to purchase?
What to do when the property is sold subject to the tenant. What are the requirements and checklist for transferring the property to new owners while it is still occupied.
Suggested Policies will be explored regarding disclosure to new tenants if the home they are renting will remain on the market for sale. Many forms & agreements will be provided during this workshop that will prove useful in navigating this process.