Property owners often wonder how they are supposed to go about selling their property if there is a tenant living in that house. It’s certainly a different situation that you’re in when you’re selling a vacant house, but it can be managed and accomplished.
Take a look at the tenant’s lease. You can find out when that lease expires and plan when you’ll start putting the house on the market. You can list your occupied property with a licensed Realtor within 30 days of the end of the lease. That’s one way to manage the sale.
Another way to manage the sale is to sell the property to another investor. If the property is one that will appeal to investors and remain a strong rental, you can list the property at any time. You’ll need to disclose that there is a tenant currently living in it, and you’ll have to share the lease with a prospective buyer.
As you can see, it’s possible to sell your property while tenants are living in there; you simply need to keep the rights of those tenants in mind. We have often had situations where a property’s current tenants decide they want to purchase the house. That’s always an ideal situation for all parties. In other cases, it has been fairly easy to sell the property to another investor, keeping the tenant in place.
If you have any questions about selling your investment home or anything pertaining to property management, please contact us at Capital Properties.
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