I’ve been noticing a little bit of a trend lately. Many sellers are hoping to capitalize on the hot real estate market but have tenancies in place.

In these situations, the seller can either wait the appropriate amount of time to legally end the tenancy in place or list it with tenants.

Ideally, before you list a property your home is vacant so you can have staging and a professional cleaner in. Not only will this make your home look its best, but it is also easier to show your home and easier for interested buyers to closer quicker. Listing your home with a tenant can create additional challenges, but sometimes it is the only option. If you do want to list your tenanted home, here are some helpful tips to keep in mind.

Work with an experienced Realtor

Real estate is one of the biggest investments and decisions most people will make in their life. It is crucial that you have a Realtor on your side to help you navigate your local market and make informed decisions. When finding the right Realtor for your situation, ask if they have ever worked with tenants before and how they navigate the challenges. Your Realtor should have a good understanding of the BC Tenancy Act and will help protect you from any legal action.

Understand the BC Tenancy Act

The BC Tenancy Act, linked here, is the legal guidelines that must be followed when listing your tenanted property for sale. These guidelines go into depth on the amount of notice that must be given for each type of lease, as well as, the rules which must be followed by the tenants, the landlord, and the real estate agent. Be sure to give this a deep read so you understand how to work with your tenants while your home is on the market and how to legally.

Be Open & Transparent

Everyone appreciates being kept in the loop. Let your tenants know ASAP if you are planning on listing your property. This will give them more time to start making arrangements. Have an open conversation about what your expectations and goals are with this sale. Why are you selling? What do you think the timeline will be for closing?

Most tenants will appreciate the honesty and be happy to work with you.

Consider introducing your tenants to your real estate agent. That way your tenants can direct questions to them that you may not know the answer to. This will also give them a touch point person to voice any concerns to. If your tenants feel involved in the process it is more likely that they will be helpful while your home is on the market.

Respect their schedules

If you have tenants, your home is also their home, and no one wants to feel uncomfortable at home! Ask your tenants about the best method of communication to use with them to request access.  Have a conversation with your tenants about what you can both expect while your home is on the market. Get your tenants to share their schedules so you and your Realtor can try to navigate showings while they are already out of the house.

Sometimes, finding a time that works for potential buyers and your tenant isn’t possible. . Ideally, your tenant is willing to work with you and either step out or be respectful while the home is being shown. If your tenant is being less cooperative, know your rights. You are entitled to show the home if you give them 24 hours’ notice.

Make it easy

In a perfect world, your tenants are clean and tidy people and have lots of time to help your home looks its best for showings. Unfortunately, this is rarely the case. Most tenants have their own busy lives to worry about and won’t bother to do a deep clean before your home is listed. Offer to get the carpets and the home professionally cleaned before it’s listed, your tenants will appreciate this and so will potential buyers.

Give as much notice for showings as possible so that your tenants can tidy up or make arrangements. Consider offering a free lunch or even a night at a hotel if there is a certain day that there will be multiple showings or an open house. If you can, offer to reduce rent a bit if they agree to help tidy up the property. Giving a little bit and being generous can make the transaction much more smooth for you.

If it goes wrong…

Keep in mind that no one wants to move or be uprooted. Having your house listed can bring up a lot of negative emotions for your renters. Despite your best efforts, they may still be uncooperative. If a tenant unreasonably refuses access to show the unit or provides misleading or inaccurate information to prospective buyers, the landlord could:

Make sure you and your Realtor have a game plan in place to deal with the tenants BEFORE you list. This can help your home earn more money and be a much less stressful experience.

 

If you’re thinking of listing your tenanted property email me at madison@madisonperry.com for more tips and advice.

Are you thinking of listing your home this holiday season?

If you are thinking of listing your property, now may be the time to do it! In the Sea to Sky, the holidays are a great time to get a lot of exposure and open up a wider buying pool for your property. Many buyers are hoping to find a last-minute ski chalet so they can get the most out of the ski season. As a Whistler Realtor, I love listing properties over the holiday season. With snow on the mountains and lights throughout the villages, the Sea to Sky corridor really sparkle this time of year.

Some Sellers are deterred from listing during this time of year because they still want to decorate and enjoy their holidays. Luckily, the right decorations can actually be a big bonus and work with your home to help get top dollar! Here are some helpful tips for sellers who still want to decorate!

1. Set the stage

Before you go around and add decorations, make sure you have a solid base. This means your home should be professionally cleaned and staged. I have written posts in the past about the importance of staging and am constantly telling my clients how beneficial it is. Making sure you have the right furniture and placements in a clean space is step number one for holiday sellers.

2. Stay neutral

You may celebrate Christmas, Haunaka, Kwanza, or something else; but the person who buys your home may not celebrate the same thing. Keeping decorations religiously natural can help buyers imagine their family celebrating their traditions in that space. Small key pieces like a manger or menorah are okay, as long as they don’t overpower the space or take away from the rest of the home. Not sure what’s religiously neutral? No one is offended by snowflakes or nutcrackers!

3. Less is more!

The holidays are a time for sentimentality. You may have boxes full of crafts from your kids, heirlooms from relatives and fun, brightly coloured knick-knacks that you’ve collected over the years, however heartfelt these objects are, they will not help sell your home! Try to really restrict what you bring out this year. Pick a few key pieces to work around and pack away the rest. Buyers are here to see your property, not your personal possessions. It can be distracting and look cluttered if there are too many decorations.

4. Pick a colour scheme

This ties into the “less is more” idea. Too many colours and tones can be very overwhelming and take away from your property. Colour can impact mood and perception. It’s a good idea to think about how you want potential buyers to feel when they enter your home and utilize colours that create those moods. A palette for decorations should also work with the existing colours of the space. Make sure to consider the rest of the home before jumping in with decorations. Picking the right colour scheme will help make your decorations feel cohesive and give your space good energy.

5. Keep it classic

We all have our own personal styles and preferences. It’s therefore important to try to appeal to as many styles and preferences as possible. Classic, timeless decor is always the best for listing your home. Think; real garlands, light natural or metallic colours and gold or white string lights, simple baubles, wreaths and candles.

6. Size matters

When it comes to decor, size matters! The right proportions can make a space feel larger and highlight key features. A tall tree can emphasize the height of the ceiling, just make sure there is a gap at the top and the base isn’t too wide. Use your decor to accentuate the key features and space of your home. Make sure there is symmetry and balance with the height and size of your decorations.

7. Don’t forget about first impressions!

First impressions are KEY for sellers. Perceptions are made within 8 seconds of being in a new space. This is why it is incredibly important that you make every one of those seconds count! If you are decorating the exterior of your property keep lights minimal and a neutral colour. A fresh wreath on the front door or some winter greens in planters can also be a nice touch! Don’t bring out the inflatables or signs this year. The exterior of your property sets the overall impression of your property so be sure to make it look its best!

Looking to list?

I am always available for a complimentary home evaluation and market advice!

There are a number of ways you can update and modernize the look of your home, without the large price tag of a major renovation. Let’s look at a few!

Get new outlet and light switch plates. Over the years outlet and light switch styles have changed and as they are usually right in the line of site, updating them can do a lot for modernizing the look of your home!

Get rid of the popcorn ceiling. Just make sure to get it tested for asbestos before you try this one yourself—some homes built before the 1970’s have asbestos in the ceiling. During a certain period it was very in fashion to have thick, sparkled popcorn ceilings, and it can date a space visually. If you have the time and motivation, this project can have a great return on increasing the value and look of your home.

Update light fixtures. This can transform a room almost entirely on its own. The difference between a dated old light fixture and an inexpensive modern one can make such a huge impact!

Stay tuned and I’ll share some more of my ideas in the coming weeks of other things you can do to spruce up your home and not break the bank!

How to stage your home for success

 

The first impression you have on a potential buyer for your home can be the most important. Staging your home and being intentional on the important areas that a first look sees can be pivotal in the success of your sale and maximizing the value of the offers you will receive.

Here are a few tips that will help you on what to focus on:

Curb Appeal

As this is going to be the first thing that a potential buyer will see before even entering your home, it is important that you make sure the outside is looking as polished as the inside. Make sure your lawn and landscaping are looking great. Mow your lawn, blow the leaves away, pull the weeds, all things that cost mostly effort and time and will be worth it. Make sure your front door is clean and clear of dirt, cobwebs, and any debris, a freshly painted door can been an easy spruce up project and not super costly either.

Make Sure Your Home is Sparkling Clean

Investing in a professional cleaning service to come and do a deep clean before your home is ready for viewings is a great idea. Professional cleaners will get to all of those areas that you may not think of in your day to day cleaning and having a fresh set of eyes will likely end up with all sorts of areas you never thought of cleaning!

Clear Away the Clutter

This one is often the most difficult, but if you are serious about selling your home, all clutter must go! Clean and clear surfaces, floors, cupboards and closets equal more space in the eyes of potential buyers and an opportunity to envision their own things in the home instead of looking at your things.

Tone Down Your Style

Often times homes are carefully curated to a homeowner’s taste, however your taste may not be those of your potential buyers. The easiest way to do this is to acquire storage and place things that are very style specific away while you are in the process of selling. Keeping clean sophisticated and neutral colours and items will be helpful in appealing to a broader audience of tastes in potential buyers.

Arrange Your Furniture With Style In Mind

Rearrange your furniture. In the living room, symmetrical arrangements usually work well. Make sure to pull your furniture off the walls and use pairs (of couches, chairs, lamps) to create an inviting conversation area. You may have furniture put a certain way to watch tv or make room for the dog or kids to run around in your normal daily life, now is the time to locate furniture to showcase the room and make it look stylish and inviting. These steps are a great starting point to staging your home with the goal of a successful sale. I’ll touch more on professional stagers tips in one of my next blog articles, so stay tuned!

It seems like Whistler has been increasing in popularity each year. Hotels book up on almost every holiday weekend. The demand for nightly rentable (Phase 1 zoned) properties in town is continuing to increase. Websites like Air B& B and VRBO have made it easy to market your own property as a nightly rental and are a great way to generate extra income.

If your looking to get into the market for a nightly rental, or interested in generating more interest in your property check out these tips below.

1.) Make it as clean and modern as possible.

Where would you rather stay? A musty, dated room or a modern and fresh space? It’s definitely the second one, right? Your guests will be thinking the same thing. Making sure your property is rental-ready is key for success in the Whistler market. Paying attention to trends in home decor and interior design can make a big difference. Beautifully appointed properties tend to be the first to book out and can normally charge a higher rate.

2.) Keep it clean!

No one wants to stay in a dirty property! Stained linens, smudges on windows, smells and garbage can ruin a first impression. Invest in multiple sets of bleachable white hotel-quality towels and linens. Make sure your property is thoroughly cleaned between each guest stay to help keep your ratings high and guests happy. If you are out of town or unable to clean often, consider highering a reliable cleaner to come to your property.

3.) Get professional photos

High-quality photos can make all of the difference in renting out your property. Bright sharp images will appeal to your potential clients and make you stand out from your competition. Spending a bit more on marketing your property can pay off big in the long run.

4.) Pay attention to detail

What’s your favorite thing about staying in a 5-star hotel? Is it the fluffy robes? The crisp white bedsheets? Maybe it’s the signature scent in the lobby or the chocolate on the pillows. All of these small touches add to the overall guest experience and can create a custom memorable stay. Small added finishes can leave a lasting impression. Taking time to add little luxuries to your property can improve your rating and increase your bookings.

5.) Make it unique

Standing out is crucial to making your property as attractive online as possible. Consider adding something unique that no other hotel or property in town has. Maybe it’s an instagramable feature wall or unique art piece, maybe a games room, maybe a sauna, or a large selection of board games. Whatever it adding something funky, cool, or just plain fun in your place will make it stand apart. Past guests are more likely to tell others of their experience at your property if you give them something to talk about!

6.) Keep up with the demand

Running a successful rental property is a full-time job! Between responding to bookings and keeping up with maintenance and cleaning, it can be a challenge to keep up! It is important to be available to respond quickly to last-minute guests and any challenges that may arise. You may need some extra help running your rental if you work full time or live far away. If you are unable to run it yourself consider getting a rental management company to help lighten your load. Ask us for some recommendations of excellent local property management companies if you would like to get some help!

Thinking of buying your next income-generating property? If you ever see a listing that interests you please reach out to our team and we can help guide you through all of the zonings and answer any questions you may have!
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How to list a tenanted property

I’ve been noticing a little bit of a trend lately. Many sellers are hoping to capitalize on the hot real estate market but have tenancies in place. In these situations, the seller can either wait the appropriate amount of time to legally…
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How do wildfires affect my real estate transaction?

In BC, wildfires have been an unfortunate re-occurring occurrence across the province. As fires can be unpredictable and sudden, it is important to be up to date of how a wildfire may affect your real estate transaction especially relating to insurance.

While almost every fire insurance policy covers for wildfires (you may want to check what any of your current policies state regarding them), being able to obtain a new insurance policy on when an active fire is happening will have an affect on your deal. There are some standard rules in regards to insuring properties/structures around active fires however you will want to verify with your broker of exactly what the rules are with your policy.

 

  1. The 50km radius rule.

The majority of insurance providers will not bind insurance policies within a specific radius of an active wildfire. Typically this radius is 50kms but you will need to verify exactly what it is with your provider.

 

  1. Think about the risks before writing a contract.

If you’re submitting an offer on a property that is in the typical wildfire “season” and perhaps one of the areas where wildfires are prone to occur, it is a good idea to ensure that a subject requiring the insurability of the property is met. Since lenders won’t mortgage and uninsured property, this could be very important as a part of your contract.

 

  1. Don’t just get a quote.

There is a difference between a quote and a binder, you’ll want to make sure that you request a binder. When a quote is requested and provided it will give a summary of coverages being offered and the annual premium cost. However a binder will actually bind a policy to a property, they’ve issues the policy and it will come into affect on the agreed upon date, which is typically the closing date.

 

  1. Don’t wait on sourcing insurance.

Since sourcing insurance can be more difficult during wildfire season, it is important to get on securing insurability and a policy as soon as you can in the process, don’t leave this detail until the last minute!

 

  1. Get professional advice

Like with every step in your real estate process, it is always best to seek legal advice to make sure that you are doing all of the steps properly and exactly how a wildfire may affect your transaction.

This information and more can be found on the BCREA website you can find here.