Rental properties can be lucrative for homeowners but when they decide to sell for any reason, current renters may pose a problem. Discover tips for selling a house with tenants in this guide from Home Buyers of Savannah. Not only do we buy houses in Savannah, GA, for cash but we also purchase rental properties and assist with the occupancy transfer.
You Can Sell Your Property at Any Time
It is possible to sell your home with tenants living there. If you’re considering selling a rental property, you don’t have to deal with eviction laws since tenants can remain in the house until the sale closes. Depending on who you sell the house to, they may decide to extend a lease agreement with the tenant and become a landlord to the same renter.
Common Issues Landlords Face When Selling Rental Homes
Bear in mind that while tenants can remain in the house during the selling process, it can create some obstacles for you. Prepare for the following challenges before you jump into the process:
- Violating tenant rights: One of the most common mistakes with tenants a landlord can make is ignoring their rights. Check with a real estate lawyer to review you’re not violating tenant rights when selling to a new buyer.
- Potentially displacing someone: A long-term tenant who is reliable with payments may need to find a new home if the buyer plans to move into your rental property.
- Difficulty showing the home: Prospective buyers will want to see the home, and a tenant’s schedule or lack of cooperation may make it difficult to schedule showings.
Selling a house with tenants requires open communication with renters so they understand what to expect and, if necessary, have enough time to secure new housing.
How To Sell a Property With Tenants
If you decide that property management is no longer serving you and want to sell a rental property, the following steps can help you in a traditional home sale:
- Keep a rent roll listing your tenants and how much they pay in rent.
- Tell your tenants about your plans to sell and be mindful of their lease agreements.
- Determine the closing date and when the tenant has to move out if the new buyer plans to live in the house or bring in new tenants.
- Enhance the property’s curb appeal to entice buyers before they step foot inside the house.
A quick sale is a popular alternative that provides you with a cash offer and expedited closing process. You won’t have to make any repairs when selling to a home-buying company or disturb your tenant with multiple showings.
Quickly Sell Your Home to Our Cash Buyers – Contact Home Buyers of Savannah a Cash Offer
Selling a house with tenants can seem daunting at first but Home Buyers of Savannah lets you sell without stress. We purchase homes in any condition for cash, including rental properties, and help you navigate the process with ease. To receive a cash offer for your property, call (912) 513-8744. We’re ready to help.
