Selling an apartment with a tenant in place

The question is usually put as: evict the tenant before selling, or sell as is. There is no universal answer — it depends on who you are selling to. For an investor an apartment with a paying tenant is a plus: income from day one, nobody to find. For someone buying to live in, that same tenant is an obstacle, because they cannot move in.

What happens to the lease

Selling does not require the tenant's consent, and on a change of owner the lease generally continues to its end date: the new owner steps into the previous owner's position.

But check your particular contract rather than relying on the general rule. It may contain provisions on early termination upon sale, on notifying the tenant, on rights of first refusal and on compensation. We could not confirm a single mandatory rule covering all leases in Cambodia — read your document, and if in doubt show it to a lawyer before listing.

Who such a property suits

The conclusion is simple: decide on your audience before listing. An apartment with a tenant is sold to an investor and sold through numbers — rent, lease term, payment history, yield against price. An empty apartment is sold through impression and readiness to move in.

What to prepare for an investor buyer

An investor is buying a cash flow, not square metres, and will want to verify it. Assemble in advance:

• The lease with all annexes and the exact end date.
• The payment history for recent months — evidence the tenant pays on time.
• Details of the deposit: the amount and who holds it.
• The inventory and condition report.
• A cost history: building charges, utilities, repairs over the period.
• Confirmation from the management company that no charges are outstanding.

This pack speeds a sale up more than any persuasion: the buyer sees the actual yield rather than a promised one.

The deposit: the thing most often lost

This is the item that produces awkward conversations after completion. The tenant's deposit must be passed to the new owner, and the transfer recorded — in the sale contract or in a separate document.

If that is not done, the classic happens: the tenant moves out, asks the new owner for the deposit, and the new owner never received it. You will be the one sorting it out.

Separately, notify the tenant in writing of who now holds the deposit and to whom rent is paid from what date. Without that they keep paying to the old details.

Viewings while people are living there

This is the most delicate part, and the speed of sale depends on it. A tenant is under no obligation to be convenient, and an unhappy occupant can end any viewing simply by not opening the door.

1. Check whether the lease gives a right of access on reasonable notice. If not, viewings depend on the tenant's consent.
2. Agree fixed days and hours rather than viewings on demand.
3. Give notice in advance, within the agreed period, and keep to it.
4. Compensate the inconvenience: a rent reduction for the viewing period works better than persuasion.
5. Explain that if the buyer is an investor, their lease continues. Half the resistance comes from a fear of being evicted.

A tenant treated decently shows the apartment better than any agent: they live there and answer questions honestly.

When it is better to sell empty

Vacating makes sense if you are aiming at an owner-occupier, if the rent is well below market and spoils the yield picture, if the apartment needs pre-sale preparation, or if relations with the tenant are already difficult.

But count honestly: months of vacancy before the sale are direct losses to be deducted from any expected gain in price. It often turns out that selling with a tenant for slightly less beats an empty apartment three months later.

What to show in numbers

For an investor the decisive figure is gross yield against your price: annual rent divided by the asking price. Calculate it honestly, from the actual contractual rent rather than the one you would like. And show the costs too — building charges, management, insurance. The buyer will find them anyway, and an honest calculation earns more trust than a flattering number.

To be direct: past returns do not guarantee future ones, and you cannot promise a buyer that the rent will hold after the lease ends. This is a case where a careful formulation protects you as well.

On taxes and paperwork

The sale process, exit taxes and document requirements are a separate subject, and they do not change according to whether a tenant lives there. That is covered in the guide to resale and exit. The only point that matters here: having a tenant does not remove any of the usual steps of a transaction.

Frequently asked questions

Can I sell an apartment while a tenant lives there?

Yes. A sale does not require the tenant's consent, and on a change of owner the lease generally continues to its end date. But the specific consequences depend on the wording of your lease, which may contain provisions on early termination upon sale. Check the contract with a lawyer before listing.

What happens to the tenant's deposit?

The deposit must be passed to the new owner and the transfer recorded, either in the sale contract or in a separate document. Otherwise the classic situation arises: the tenant moves out, asks the new owner for the deposit, and the new owner never received it. Notify the tenant in writing of who now holds it.

How do I run viewings with people living there?

Only by arrangement and with advance notice. A right of access on reasonable notice should be in the lease — without it, viewings depend on the tenant's consent. It is practical to agree fixed days and hours and to compensate the inconvenience: a tenant who is treated well shows the apartment better than any agent.

Sources

Practice supporting owners in Phnom Penh · NovAsia corpus on ownership and resale · checked July 2026. A statutory Cambodian rule preserving a lease on change of ownership, and a mandatory procedure for transferring the deposit, are not confirmed in this review — the consequences are set by your lease. Past returns do not guarantee future results. This content is for general information only and is not legal advice.