FOR SALE OR FOR RENT? THINK TWICE

If you're selling a property, should you rent it out while waiting for a buyer?

My advice: if you're serious about selling, keep it vacant.

Yes, leaving it empty means giving up rental income. But a tenant can make the property significantly harder to sell.

The biggest problem is viewings.

A serious buyer messages your broker: “Can I see the unit tomorrow at 2 PM?” Your broker now has to coordinate with the tenant.

“I’m not available tomorrow.”

“I work from home. After 5 PM only.”

“I’m out of town.”

“I’m abroad until next week.”

These are all perfectly reasonable responses from someone who is paying to live there. But buyers don't necessarily care. If they can't see your unit when they're available, they'll often just see another one.

And in a market where buyers may have several comparable units to choose from, you don't want to create unnecessary friction.

You can put a clause in the lease requiring the tenant to accommodate viewings with reasonable notice—and I strongly recommend doing so if you intend to sell while the property is leased. But that still doesn't give you unlimited access to the unit. The tenant has possession and a right to peaceful enjoyment during the lease, so viewings still need to be properly coordinated.

There's another side to it too: tenants understandably get annoyed when they rearrange their day for a viewing, clean the unit, wait around—and the buyer cancels at the last minute.

So the tenant gets frustrated. The next time you need to show the unit, they may be even less willing to adjust their schedule. After another round of delays and back-and-forth, the buyer has already moved on to Unit B.

Rental income while you're selling sounds like you're maximizing the property.

Sometimes, you're actually making the sale harder.

If selling is the priority, accessibility can be worth more than a few months of rent.