You rented out your house or condo a few years ago, and now you’re thinking about selling it. But is it really a good idea to put a property on the market while it’s still occupied by tenants?

The answer is: not always.

In fact, such a move can lower the resale value of your property, sometimes by as much as 15% below market value.

Several factors explain this gap:

1. Limited access for showings

When the unit is occupied, coordinating showings becomes more complicated. Potential buyers must adapt to the tenants’ availability, which reduces flexibility and can lower the number of showings overall.

2. Less-than-optimal presentation

A unit lived in by tenants is usually not staged with the same attention to detail as a property showcased by its owner. Layout, cleanliness, and décor play a key role in creating that “wow” factor, and it’s much harder to spark that feeling in a rental space.

3. No immediate occupancy possible

Under tenants’ rights, occupants may have the option to remain in the property. This means the buyer cannot move in right away, which can be a significant drawback—especially for those looking for a primary residence.

Our advice

Before putting a house or condo on the market while it’s still tenant-occupied, take the time to carefully assess the situation. Depending on your goals, it may be wiser to wait until the lease ends or to discuss an early departure with your tenants, while respecting legal requirements. We’ll be happy to guide you through this process!