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SELLING A TENANTED PROPERTY | KT Confidential EP 149

On this podcast, episode 149, Adrian and Ariel talk about how you should sell your Tenanted property. With the Residential tenancy act, the process of selling your home could be difficult due to the fact that everything in this act is geared towards protecting that tenant.

Having a positive relationship with your tenants, or allowing your real estate agent to do so, can go a long way toward assisting in the selling of your property. De-cluttering and prepping the unit for sale will be easier if the tenants are happy. The way a home is displayed and staged can have an impact on the price it sells for and how long it takes to sell.

Selling an empty property is significantly more favourable than selling a tenanted property, based on our own personal experience selling homes. When selling a tenanted property in Ontario, you must promote it with the majority of the tenant’s personal items – fingers crossed that your tenants have decent taste. Some tenants will be accommodating and allow you to add some staging items, but you’ll have to work with what they have. Not to mention arranging with your tenants in the hopes that they will keep the property in decent condition during showings.

In some circumstances, you may want to consider giving your tenants a bonus month’s rent in exchange for moving out early and offering to assist them in finding a new rental. Knowing that they would most likely need to move in 60 days once the property sells, the bonus month’s rent will assist them cover moving costs and provide them some extra cash to put toward their next home.

All of that and more on KT Confidential – Real Estate Podcast.

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Episode Breakdown:

00:00 – Intro
0:57 – KT Apparel
4:07 – What to do when you want to sell your home with tenants
6:24 – Town of Milton owning your grass
8:40 – Negotiating with your tenant
9:55 – When selling, you must pay your tenants 1st month
11:17 – Money talks
14:37 – Tenants perspective
16:33 – How Adrian would approach this.
17:44 – Fluff staging vs Proper Staging
19:53 – Selling the home with the Tenant
22:14 – Ariels quick tip
23:00 – Outro

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Watch the previous episode here:
E 148

Catch clips and highlights of the show here:
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The founders, Ariel Kormendy and Adrian Trott, started The Kormendy Trott Team, a real estate team based out of Halton region in Ontario, after both being in need of a change from their successful careers in the automotive industry and both experiencing the lack of service being provided in the real estate industry. They kicked off their careers in 2011 and quickly became a top-performing team in the country, ranking 17th of approximately 200 for Century 21 in 2017; as a team of just the two of them compared to much larger teams. They decided that they needed to take their team from being real estate agents in Milton to the rest of the GTA and beyond by expanding and servicing more areas. The team has since grown to have an administrative arm, media department and successful sales team operating a smooth running and successful business.

COMMENTS

HOSTS

Milton Real Estate Agent

Adrian Trott

Adrian Trott, co-founder of The Kormendy Trott Team, began his real estate career in Milton and has since built a reputation for delivering exceptional results. Passionate about constant growth, Adrian is always finding innovative ways to improve services and create a better experience for clients. When he’s not navigating real estate transactions, you’ll find him snowboarding, exploring new destinations, or enjoying a good video game.
Milton Real Estate Agent

Ariel Kormendy

As co-founder of The Kormendy Trott Team, Ariel Kormendy blends real estate expertise with a creative flair for marketing, helping clients achieve their goals with confidence and ease. Outside of work, Ariel is a dedicated family man who loves exploring new cuisines, perfecting recipes in the kitchen, and enjoying good food with great company. His passion for connection shines through in everything he does, both personally and professionally.

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Open House Terms & Privacy Agreement

for KT Open Houses

  1.  

1. Visitor Etiquette: All visitors are required to maintain a respectful and safe environment in our client’s property by adhering to the following etiquette guidelines unless otherwise directed by a representative of The KT Team:

  • Footwear: Please remove footwear upon entry to help preserve the property’s cleanliness.
  • Washroom Facilities: Visitors are kindly asked to refrain from using washroom facilities.
  • Personal Belongings and Furniture: For privacy and safety, please avoid touching personal belongings or opening furniture not part of the sale. Examples include dressers, media consoles, and most free-standing furniture.
  • Food and Beverages: Outside food and beverages are prohibited while touring the property.
  • Furniture: To respect our client’s space, please avoid sitting or lying on any furniture.
  • Pets: Pets are not allowed within the property.
  • Children: Parents and guardians are responsible for ensuring children follow these guidelines.

2. Visitor Tracking and Safety: To ensure the safety of our clients’ property and personal belongings and the security of our real estate agents, all visitors are required to provide accurate and complete contact information. This information is used to track attendees and ensure accountability.

3. Digital Communications and Follow-Up: By providing your contact information, you consent to receive digital communications from our real estate team, including information about this property, future open houses, and other relevant real estate opportunities. These communications may include marketing or promotional messages, and we aim to keep them relevant to your interests.

4. Opting Out: You may opt out of receiving digital communications at any time by contacting us directly at the contact points below or following the unsubscribe link provided in messages. Opting out will remove you from future marketing communications, although we may retain your contact information for internal records related to visitor tracking.

KT Realty
229 – 336 Bronte Street South
Milton ON L9T 7W6
info@kormendytrott.com
1 (800) 617-0090

4. Prospecting and Sales Activity: Our real estate team may use your information for prospecting and follow-up purposes. We ensure these communications are conducted respectfully and aim to provide opportunities aligned with your interests.

5. Privacy and Data Protection: We respect your privacy and are committed to protecting your personal information. Your details will not be shared with third parties, except as required by law or for purposes directly related to the safety of open house events.

6. Acknowledgment: By submitting this form, you acknowledge that you have read, understood, and agreed to these terms and conditions. You agree to adhere to any additional requests or instructions the real estate agents provide to maintain a safe and secure environment during your visit.