Selling a Lake Home That's Been a Rental

If your Lake Conroe home has been a short-term rental, it can appeal to two kinds of buyers: those who want a lake home, and those who want a rental that's already running. Here's how to handle the sale.

Decide what to do with bookings

Future reservations need a plan. You can:

• Stop taking new bookings after a set date

• Honor existing bookings through closing

• Offer to transfer bookings to the buyer, if they want them

Put the plan in writing in the contract.

Present the rental history

Investor buyers will want occupancy, income and expense records. Organize them clearly, and be accurate.

Decide what conveys

Furniture, linens, kitchenware, kayaks and decor can be included or excluded. List everything in writing.

Refresh for the sale

Guest wear shows. Touch up paint, deep clean, repair small issues and make the home feel like a home, not a hotel, for owner-occupant buyers.

Mind the shoreline

Buyers will still look closely at the bulkhead, dock and boathouse. Have SJRA permit and license records ready.

Tax questions

Selling a rental can have different tax treatment than selling a primary home. Talk to a CPA before you list.

Do future bookings transfer to the buyer? Only if you and the buyer agree. Decide early whether to honor, transfer or cancel bookings, and spell it out in the contract.

Should I sell my rental furnished? It can appeal to buyers who want to keep renting. List what conveys in writing.