Selling Your Rental: What SA Landlords Need to Know

Before selling, it’s important to consider the financial implications of parting with an investment property. This could include capital gains tax, the impact on your overall investment portfolio, and potential loss of ongoing rental income. We always recommend speaking to your accountant or financial advisor before proceeding, so you understand how the sale fits into your long-term financial goals. Also, selling a tenanted property has a few new rules under South Australia legislation.

From the Property Management Side:

The updated Residential Tenancies Act now requires landlords to provide tenants with 14 days’ written notice before a property can be advertised for sale. This gives the tenant time to process the news and prepare the home before any marketing begins.

Photographs or video are permitted to advertise the property, as long as the 7-days’ notice period has passed and the tenant has given written permission. After that, inspections can be arranged no more than twice every 7 days unless the tenant agrees to more often.

There is a lot of other legislation to be aware of so best to speak to your property manager for all the details on your specific situation

From the Sales Side:

Selling a tenanted property has its advantages - you continue to receive rental income throughout the campaign, and investors may see value in buying with a tenant already in place. But it’s vital to approach the process with open communication and legal compliance to avoid any delays or disputes.

Selling a tenanted home requires careful coordination between the landlord, the tenant, and the sales agent. Communication is key - because when everyone’s on the same page, the sale process is much smoother.

If the tenant is worried about their belongings appearing online, images can be digitally edited to remove or blur personal items. We also encourage tenants to present the home in its best light and, where possible, vacate the property during open inspections to create a better atmosphere for buyers.

If a tenant is hoping to stay on after the sale, cooperating with the process is the best way to make a good impression on any potential new owner. A clean, well-presented home shows pride of place - and that can go a long way in securing ongoing tenancy.