- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (5)
- Ronald Escobar, "Ron Escobar"
- Contributions:305
I broker a lot of multi-family properties in LA... I can tell you that Investors prefer to have empty units so they can put tenants at market rents and to their likening… However, with no tenants Financing would be much more difficult for a non-owner occupied buyer.
The same is true to a person that is buying it for their owner user purposes… as they would like to have the choice of what to do with the property.
I cannot tell you one way or another without knowing the exact location and amenities of the properties… because you could get tenants in while the property is in escrow if need be, but it depends on the tenant demand and supply of your particular building…
Best of luck!
- sunnyview
- Contributions:25139
I would get a CMA from your agent for both types of property uses and have them evaluate which type of property is more desired in your market. Selling a leased/rented property with tenants is not easy. It makes showings more complicated and can make people looking to owner occupy nervous about being able to close escrow and move on time.
Investors look at it a bit differently since they generally want cash flow, but even they may be leery of accepting current tenants in a property that is not a legal duplex and may be concerned about not being able to screen the new tenants themselves. I would talk to your agent and then decide what to do.
Investors look at it a bit differently since they generally want cash flow, but even they may be leery of accepting current tenants in a property that is not a legal duplex and may be concerned about not being able to screen the new tenants themselves. I would talk to your agent and then decide what to do.
- Edyta Gryc, "SE Florida broker"
- Contributions:304
I would suggest to contact a local realtor for the advice. He/she will have a knowledge of a local market and will be able to tell you if you should lease the apart. or leave it empty.
Good luck.
Good luck.
- Alan Grizzle, "Alan Grizzle"
- Contributions:401
You need to answer a few questions yourself first.
How is the market in your area?
How much do you owe on it?
How much can you get for it?
How much can you lease it for.
If you lease do you have someone you can trust to manage it?
How much will a property manager cost?
Can the manager get repair work done for you?
If you sold it what would you do with your proceeds if any?
How will what you do affect your taxes?
Now that you have all this information you can make a informed decision.
How is the market in your area?
How much do you owe on it?
How much can you get for it?
How much can you lease it for.
If you lease do you have someone you can trust to manage it?
How much will a property manager cost?
Can the manager get repair work done for you?
If you sold it what would you do with your proceeds if any?
How will what you do affect your taxes?
Now that you have all this information you can make a informed decision.
- Benny Smith, "bennysmith1"
- Contributions:177
The only way to make an informed decision is have a Realtor do a CMA based on each. Then you can know what is selling in your specific area and at what price.
Lease or Sell?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.