Finding out that your rental property is going on the market can be a stressful time for tenants, but by breaking down landlord and tenant obligations we try and make it as easy and transparent as possible for both parties.
As the property owner, the landlord has the right to sell their property whenever they choose. Many tenants find this news disturbing and feel that just because the owner is putting a property on the market that they’ll be forced to find a new place to live. If you’re renting a property and find yourself in this situation rest assured that new owners of your property are required to abide by the existing terms and conditions that are in your current lease, which means if there is a fixed term agreement in place (which Altitude recommend for all our landlord and tenants), you will still have the right to live there until the lease is up. The other possible outcome is that the property sells to an investor in which case you may well be seen as a great tenant for the new owner, particularly if the home was presented well at the time of inspection.
When it comes to inspections, the landlord is required to give tenants two weeks notice in writing before conducting the first buyer inspections and ‘reasonable’ notice (generally 48 hours) each time thereafter. Tenants are allowed to be at the property while the inspections are taking place, however it isn’t a requirement.
In regards to marketing a property, tenants are required to keep the property in a ‘reasonable state of cleanliness’ during the tenancy. Most tenants don’t realise however that they have the choice of having a sale sign erected at their property and whether or not photos are taken of the inside of their home. Not being given permission to take photos can pose as a serious obstacle for a seller as it can have a serious impact on the quality of the marketing campaign.
At First National Altitude we get the marketing right prior to the property being leased for the first time. By providing our landlords with the opportunity to get professional photography, floorplans, styling and video services we are ensuring that the home will always be presented at its best!