Tip of the Month - November 2009

Showing Property to Prospective Buyers

Source: Every Landlord’s Legal Guide-9th Edition
             By Marcia Stewart
             Attorneys Ralph Warner & Janet Portman

You may show your property-whether apartments in a multiple-unit building, a rented single-family house, or a condominium unit-to potential Buyers or Mortgage Companies.  Remember to give the required amount of notice to your Tenant.  It is also a good idea to tell the Tenant the name and phone number of the Realty Company handling the property sale and the particular Real Estate Agent or Broker involved.

Problems usually occur when an overeager Real Estate Sales Person shows up on the Tenant’s doorstep without warning, or call on very short notice asking to be let in to show the place to a possible Buyer.  In this situation, the Tenant is within his/her right to say: “I am busy right now-try again in a few days after we have set a time convenient for all of us.”  Naturally, this type of misunderstanding is not conducive to good Landlord-Tenant relations, not to mention a sale of the property.  Make sure the Real Estate Sales People you deal with understand the law and respect your Tenant’s rights to advance notice.

Tip from Crossett Real Estate Services

The above policies are applicable for Landlord-Owners, Managers.  It is also good policy to request that someone, either the Tenant, or a representative of the Tenant be present while showing the property OR have someone as a witness having no interest or conflicts. If pets are an issue, advise the Tenants that all pets must be secured while you are showing the property.  A 24  hour advance notice is reasonable: should be understood in writing.

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This web page was updated on 11/05/2009.