Are you the owner of a rented apartment and considering selling it now? Here you will find exclusive tips that will help you prepare the sale process well and implement it professionally. Please also note other tips and important information on the sale of vacant apartments under Apartment Sale.
To whom can I sell a rented apartment?
If you want to sell a rented apartment, you can turn to two possible target groups:
Investors who would like to generate a return with their home
Although the sale of the apartment to the first target group is very interesting for the seller in the event of success, it is difficult to realize in practice. This is because a buyer of a rented apartment can only use it if he cancels the existing tenancy beforehand due to his own needs. In addition it must justify the notice in detail and count on the fact that the notice of termination is subjected to a possible judicial examination. It often turns out that the reasons listed are not sufficient for termination. Because notices of termination can cost time and money because of personal needs and also the moving in time is not exactly calculable in the case of success, potential owner-occupiers are hardly interested in the purchase of a rented dwelling.
What documents do I need to sell a rented condominium?
Before the sale, it makes sense to find out the value of the rented apartment by means of a property valuation. The following checklist shows you which documents are required in advance.
Sale of a rented apartment to an investor
The best way is to sell a rented apartment as a capital investment, i.e. to turn directly to investors. It is important to convince the investor that he can already generate an interesting return on equity during the holding period of the apartment, but at the latest with a later sale of the apartment. The return on equity of a rented property can best be illustrated from the point of view of a buyer using an example.
Sell a rented apartment – start marketing!
Please remember that rented apartments are not marketed like vacant apartments. For example, these are listed in a separate section of the online marketing portals (e.g. investment properties). Also rented flats are sold more strongly on the “paper” (over net yield calculations). Thus a prospective buyer receives usually also only then a inspection date, if he is seriously interested and one spoke with him also already in detail about the dwelling.
In this way the tenant does not have to be constantly disturbed. There are even capital investors who buy an apartment without visiting it if they have been advised in great detail. Since advice is crucial when selling a rented apartment, sales talks should only be conducted by people who have frequently sold capital investments. Therefore, you should only contact brokers who regularly sell investments.