A lot of times, the only thing stopping the sale of a property is the tenant, and that is what we see as real estate agents. We want landlords to be able to avoid this pitfall by sharing some important information in this video.

If you follow a few steps, you can sell your units while they are occupied.

Here are two scenarios and the action based on each: 

1- The buyer is an investor and doesn’t mind keeping the tenants. 

This is a simple deal, and it’ll even work to your advantage since you’re selling a unit that generates instant cashflow for the new buyer. 

You just need to transfer the title deed to the new owner, tell the tenant that the new owner is now the point of contact, and tenant needs to reissue PDC under the new owner’s name if it applies. 

2 – The buyer wants to use the property and evacuate the tenant. 

This one might be tough, especially if the tenant is paying the rent on time and their lease is still valid. Hwever, with certain arrgamanets, it’s also possible. 

The RERA department has issued regulations that protect tenants and landlords.

If you intend to sell your property, it is important to remember these rules and take the right step before listing your unit for sale.

The most important step here is to give the tenant a 12-month written and notarized notice. 

By doing so, you’ll eliminate any potentail problems with the tenants and increase the odds of selling the place. 

Here’s still one more coommon and critiacl scenario that we didn’t cover yet. 

Which if you didn’t give the tenant a notarized notice and the new buyer wants to use the property. 

In this case, the new owner need to give the 2-month written and notarized notice to the tenant. 

The big question here is what to do if the new owner wants to move in right away and won’t close the deal until the property is vacant and ready to move in. 

Well, in this case, you have to reach to a middle agreament with the tenant, and here are 2 ideas that might help: 

1. Even if your tenant isn’t in a position to purchase your property, you should give them the chance to buy it before offering it to someone else.

2- Make sure you explain why you are selling to your tenants. If you think your situation will improve your position, you should explain it.   

At Key Clue Properties, we’re known for negotiating with tenants and getting a fair deal for all. We also have a legal department that can intefrear where necessary and make sure that everything goes by the book. 

If you need help with selling your property in Dubai, contact us today. 

We have an active list of ready buyers and investors who wish to buy secondray properties such as yours, and we can connect you with them immidiatly. Contact us now.