Monday, August 19, 2013

Sarasota Real Estate Investors: Protect Your Interests

I just had a phone call with a listing agent regarding a showing for a condo that was tenant occupied.

The tenant seemed to be setting the rules of when and how to show the property.  According to the listing agent, there was a "cat with an attitude" and the tenant was adamant that the listing agent provide access to all showings.

Of course, the predictable "can you show it later?" question came up.  Ugggh.  It's really unfortunate that the seller put a lot of work into renovating this particular unit, and it's difficult to show.

My advice to Sarasota property investors is to include a clause in your lease, making it crystal clear to tenants that they must allow showings and have the property ready to show with 24 hour notice.  Pets should be caged or put in a bathroom.

Restricting showings on your investment property hurts it's value and results in longer time on the market.

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