Becoming a landlord is a good way to earn passive income, but circumstances can change. If you’re ready to sell your rental property, you might ask, “Is it hard to sell a house with tenants?”
At Professional Home Buyers, we frequently purchase tenant-occupied properties in Wichita, Kansas, and the surrounding areas. Before putting your rental home on the market, review our guide to know the essentials about selling an occupied property.
What You Should Know About Selling an Occupied Property
Is it hard to sell a house with tenants? To avoid common house-selling mistakes, you may assume the home should be empty, pristine, and ready to move in but that’s not entirely true.
It’s possible to sell a tenant-occupied property, and it’s not always difficult. Some real estate investors seek properties with existing tenants who are current with their rent payments. If your tenant has a month-to-month lease agreement, you or the new homeowner can end the tenancy by providing the occupant with the legally required amount of notice.
You could experience a problem with the sale if the tenant has a long-term lease. In some cases, negotiating an early move-out by modifying the lease with the tenant’s agreement can empty properties in time for new ownership to take over.
Tenant Rights
Landlord obligations include paying close attention to all of your sitting tenant’s rights to avoid legal complications. As such, you must give them a Letter of Intent if you want to sell the property. To list the property on the market as vacant, you’ll need to provide your tenant with a notice to vacate that complies with all applicable legal requirements.
The Challenges of Holding a Rental Property Sale With Tenants
It’s always easier to sell an empty house instead of an occupied one. If you have a renter, you cannot force them to move out before the end of their lease unless they’re violating its terms or you both agree to a modification. If the lease agreement expires and the renter doesn’t leave after the house sells, the new owner may have to file an eviction.
Marketing Tips for Tenant-Occupied Rental Sales
Now that you know the answer to “Is it hard to sell a house with tenants?” is sometimes, consider these tips to make the process easier for you and your renter:
- Ask the tenant to vacate the home temporarily for property showings.
- Make it easier for the tenant to keep the home in good condition by providing landscaping or yard services.
- Ensure the tenant is up to date with their rent to make them more enticing to investors.
Sell Your Tenant-Occupied Home Fast With Professional Home Buyers
Is it hard to sell a house with tenants? It can be tricky, but selling without a realtor streamlines the process. Professional Home Buyers has over 20 years of experience buying houses for cash throughout Wichita and Sedgwick County, Kansas. We buy houses in as-is condition, regardless of the homeowner’s situation, and we don’t charge commissions or fees.
Let us make your home-selling experience hassle-free. Contact Professional Home Buyers at (316) 686-7355 to get your fair cash offer.