Though it is only Monday, the week seems longer than necessary.
Today I met with the tenants of the home I'm selling. They presented me with a current lease--one the owner assures me is valid. If they all agree it is current, we will go with that.
I've been told there is quite a bit of animosity between the owners and the tenants. If there is, I didn't see it, but then again, I was there to negotiate like it was the Geneva Convention. The tenants were humble and promised cooperation--except they weren't willing to clean. The house is lived-in but not dirty. I wish it looked better, but given the real estate market, I don't think it will be much of a deal-breaker. And, I was able to get a few pictures.
Other than not cleaning, the tenants and I agreed to a few particulars, namely when and how the home would be shown. They are not going to be there for the showings. Given their age and health, this was a major concession on their part. But then again, they have a place to live right now. I've asked they take the yappy Pomeranian with them when they leave the house, but I'm not terribly optimistic I will get my way on that one.
The biggest challenges are simply the rent is low and the tenant has a past that can't be undone. Any new investor is taking on a bit of tenant baggage. Though I don't think the tenant is the least bit dangerous, it is still a tough sell to a potential future landlord.
Anyway, there's a home down the street that is going to be active on MLS in a few weeks. I'm waiting for that one to go live before I put this one on the Multiple Listing because I want to see how they price theirs. I will follow suite.
In a strange coincidence, Dee is looking for another property for her felons. I asked her if she wanted to take on more felons (these tenants). She might be willing if the right house comes along at the right time. This might work out well. My sellers would get more money for a vacant home than one with tenants in place. So, you never know.
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