|Your income property advisor will be able to help you establish the most appropriate time to put your property on the market. They will have a sense of the supply and demand in your area and will be able to advise you on timing, as well as price. But there are a few other factors that will affect when you should sell and how you should handle closing times: Your Tenant Obligations
If you need to deliver vacant possession you will have to deliver your tenants a notice to terminate tenancy and you will need to allow them the appropriate number of days notice. Review your leases to see when the earliest termination notice can occur.
The Investment Landscape
Network with other investors or income property agents to stay aware of market conditions. Wait for periods of increased demand and be ready to act fast to capitalize on these favorable conditions.
The Cost to Carry a Vacant Property
You may choose to vacate your tenants prior to listing to simplify showings and transfer of ownership. Or, tenants may choose to leave when they find out the property is being sold. Determine how long you are prepared to keep your income property on the market without generating revenue if it doesn’t sell quickly.