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Resettling the Tenant in Sectional Title Selling
By arlene | March 21, 2008
The human factor is a major consideration that must be taken into account by an estate agent involved in the selling of flats which had previously been let.
It is imperative that the developer is made aware of the plight of each tenant in the block that the estate agent is handling on his/her behalf. Unless there is complete understanding and trust between all concerned, problems are bound to arise.
The main objective, as far as the estate agent is concerned, is to win the tenant’s confidence. One should not prevaricate, but take the time to explain everything carefully and with empathy. Understand that it’s a terrible blow for anybody to find themselves being put out of their home after years of security.
If the tenants are elderly, arrange a meeting with their adult children, if possible, either together with the parents or separately. This is time-consuming, but persevere and assist as much as possible by allaying fears. Winning their confidence ensures selling will be that much easier and more pleasurable because a hostile tenant can create unpleasantness and complications for the prospective buyer.
Prepare the buyer for any problems that may arise with the tenant when viewing the flat. Also take the time to explain the situation to the developer. Point out that anyone who feels threatened may instinctively seek legal protection, therefore in some cases extra time may be needed.
Obtain lists of rental accommodation available, even from other estate agents if necessary. Constructive assistance to the developer, the tenants, and even to the agent will flow from such positive and helpful activities. Whilst every agent wants to sell, the vast majority also want to sleep at night with a clear conscience.
The Sectional Titles Act grants sitting tenants up to 90 days to decide if they want to purchase the flat that they occupy and up to 180 days to find alternative accommodation if they decide against purchasing the flat. Different time scales apply if the flat is rent-controlled or if the tenant is over 65 and earns less than the prescribed amount. This gives time to assist in finding alternative accommodation. Although this may not seem conducive to selling, being able to attract the right purchaser and satisfactorily resettle the sitting tenant is the sign of a professional agent with a social conscience. Service of the highest calibre brings its own rewards.
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Topics: Agent, Rental | 5 Comments »
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