Tenants can be both a blessing and a curse. If there’s a thriving property market in your area, then you should have a pool of buyers eager for the income they’ll receive. However, if it’s a slow-moving market, then it might be that marketing the home just to investor purchasers is holding you back.
There is the option to sell the property without tenants, but you’ll then have to weigh the loss of income and/or vacating process including possible eviction. Depending on the lease agreement, you may be required to wait a lengthy period of time until the tenants vacate the property, not allowing for a quick sale.
You might also have to deal with unhappy tenants, although they could be cooperative and perhaps even want to leave the home earlier. There are legal requirements regarding viewings too – 24 hours’ notice is usually the minimum you have to give to tenants, but there will be a specific time period in the lease agreement.
Even if viewings of a tenant occupied property are permitted, potential buyers could be deterred if the property has not been properly maintained.