Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

Is a tenant a problem or an asset when selling?

It depends entirely on who is buying. To an investor, a paying tenant with a clean rent history is an asset that proves the property cash flows from possession day, while to an owner-occupant, the same tenant is simply an obstacle standing between them and moving in.

A documented rent roll, on-time payment history and a lease with reasonable remaining term all make the tenant look more like an asset to the right buyer, and that documentation is exactly what an investor's lender will ask for before financing the purchase, alongside the usual $400 to $600 home inspection covering the building itself. The Residential Tenancies Act, 2006 governs the lease either way.

The same tenancy that helps with one buyer segment can shrink your buyer pool with the other, since a family looking for their own home will typically discount the property or skip it entirely rather than wait out an existing lease.

Deciding how to market a tenanted property starts with deciding which buyer you are actually trying to reach. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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