Short answer: Future bookings do not disappear when you sell. They are either honored by you through closing, transferred to the buyer, or cancelled and refunded, and the purchase contract should say which. Settle it with your rental manager before you list.
Your three options
- Honor bookings until closing. Pick a closing date after the last booked stay you keep.
- Transfer bookings to the buyer. Some buyers of rental homes want the income. The contract spells out which stays transfer and how rents and deposits are credited at closing.
- Cancel and refund. Check your rental agreement and the guest terms first; cancellations can carry penalties and hurt reviews.
Before you list
- Ask your rental manager for the current booking calendar, the terms of your management agreement and how to end or transfer it.
- Pull the last few years of rental income and expenses. Buyers of rental homes will ask for them.
- Decide which weeks stay open for showings, and tell the manager.
- Ask how deposits and prepaid rents are held, so they can be credited correctly at closing.
During the sale
- Showings need to work around guests; plan turnover days and quiet hours with the manager.
- The closing attorney prorates rents and credits deposits based on the contract.
- Keep furniture and supplies lists ready if the home sells furnished.
A note
This is general information, not legal or tax advice. Your rental agreement, your manager’s contract and your closing attorney decide the details for your sale.
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