Because of very strict pro-tenant regulations in San Francisco and some of the other surrounding areas, selling multi-unit buildings/rental properties requires a real expert if you want to get the most out of your real estate investment. And with recent rule changes it just got a lot harder and a lot more complicated, making it crucial to have representation by a company that knows this type of property. We have acted as both buyer and listing broker on many multi-unit buildings, so we have the hands-on experience and history of success with this type of building to maximize the return on your investment.
Here are just a few of the things your agent should know:
- Rental Income: This is something your representative should know off the top of their head when showing your property, as it is one of the major factors in determining value. They should also know what market rents are as that number os often different from current rent, especially in rent control areas.
- Tenant Status: Are any of your tenants protected? Have they been served with the proper forms? Does your agent know protocol for showing so that you don't get in trouble with local rent boards?
- Loans: The number and type of units in your building can have huge impact on financing. If the building has mixed residential and commercial usage or is 5 units or more, the loan product and time to close are decidedly different than 1-4 unit residential units
- Cooperating with Tenants: Tenants are often hostile to agents during the sale process, and this can make selling your property a lot more difficult. we know how to make friends and get along so that tenants will cooperate with showings. This often makes the difference between a sold property and a withdrawn listing.
These are only a few of the things your agent/broker should know. There are so many reasons to hire us, but it all starts with service.