How do you get a rental property ready for the market? It's actually very simple. If you have tenants in the property who are being difficult about home showings, work with a paralegal. We have a few on our team who can help you at a lower cost than a lawyer. As a landlord, it is your legal right to show the property. There are two forms you have to present to the tenants. One should explain your intent to sell, and the other a 24-hour notice before each showing. Real estate agents can also assist you by communicating with the tenants for you. Now, we're standing in front of a rental property that's about to go on the market, and these tenants decided to move on their own. Since the property is vacant, we are painting the interior and exterior of the home. We are also replacing the carpets. These repairs will end up costing under $5,000, but the home will look brand new! It will only take about 4 or 5 weeks to list this property since we first notified the tenants. These repairs are important because buyers are looking for move-in ready properties, especially the more serious buyers who are out in the fall.
Now, if the tenant in the property wants to stay, you can include that information in your marketing. Instead of selling to a homeowner, you would be selling to another investor. A property with a positive cash flow will get picked up quickly! Lastly, ask if the tenant is interested in a long term lease. This will make the property more enticing to prospective investors because they won't have to look for a new tenant a couple months after they buy the property. If the tenant is willing to sign, make sure prospective buyers know!
We've had a record-breaking month in sales in our office here in Toronto. Personally, I had $5 million in sales in the month of May, and I had $3.8 million in sales in April. This is a record-breaking first half of the year for us. There are two reasons I can identify as to why this is happening. One of these reasons is that the market is moving very quickly. The average days on market is only 17 days right now!
Our team moves very fast with transactions, but so does the market. This combination means that our team is selling homes very, very quickly. We're also getting more feet on the ground and we're calling more prospects. We're not relying on the Internet to do the work for us; we're getting out there and making contact with potential buyers and sellers. With this being said, now is a great time to sell your home in Toronto. If you want to sell quickly and for top dollar, then you know who to contact!
Today we are excited to talk to you about one of the most important parts of our business. We just got off the phone with a partner who referred us another million dollar plus listing, and we couldn’t be more excited. You see, we have an entire referral network of top agents from all around Canada and Ontario. We get these types of referrals 3 or 4 times a month, and it’s a result of us aligning with the best.
We are transacting business from all over and the exciting thing about our team is that we can handle transactions anywhere in the city for all of our buyers, sellers, and investors. Wherever you are located, and wherever you may be, we can have a buyer or seller ready to buy your home. If you have any questions for us, or know somebody who is looking to buy or sell a home, get in touch with us. We have the tools and experience necessary to get the job done with ease. We look forward to hearing from you!
