It’s no secret that Phase two restrictions due to COVID-19 have been extended – for an unknown period of time. Many Realtors who were planning on showing tenant occupied homes (which is restricted under Phase Two restrictions) that have been listed for sale were eager to start showing them on Saturday, August 1, 2020, when the Governor’s directive would of expired, only to find out that it was extended Friday evening. So, what can you do during this time?
If your property is leased and your tenant is paying rent, consider yourself fortunate! Perhaps keeping the home rented and waiting this time period out may be a possibility until restrictions are lifted.
If you absolutely need to sell a tenant occupied home, forging a good relationship with your tenant may be your best option. Current direction from the Nevada Realtors Association to Realtors states that due to restrictions to mitigate COVID-19, you can work with your tenant to obtain pictures or video of the home – tenant provided that is – so that you can have photos for your listing. You cannot force your tenant to do that, however, it is an option. Three dimensional property scans, virtual tours and virtual staging can also be used (Source: nevadarealtors.org).
If you can generate an offer and go under contract, most transactions can still take place while following directives and safety measures. COVID-19 disclaimers have been made available to Realtors in order to handle transactions during this unique period of time.
Of course, investors are scouring properties these days as well, looking for a rental property to invest in. So, there is still opportunity to sell the home. Granted, it may be more challenging. So, if your rental property is generating monthly income, perhaps consider waiting things out – if it meets your plans and goals. Otherwise, anticipate a sales transaction different than what you perhaps had in mind.