Solid Tips on Getting a Fast Sale For Your Tenant Occupied Property

Have you been thinking about selling your tenant occupied property? Luckily, you have many options at your disposal. If you’re ready to put the landlord blues behind you, you can sell your tenant occupied property to an interested party. However, it’s important for you to understand that selling your tenant occupied property can pose a challenge if you fail to recognize your options.

Selling your property to a professional real estate investor may be your best bet if you are looking for quick cash. Professional real estate investors have a solid reputation for closing fast. This is what you need if you are looking for a quick way out of the landlord rat race.

We will now cover several tips for selling tenant occupied property. You will increase your chances of finding a credible buyer if you take heed to them. You must know about the laws of property.

Recognize Your Tenants Rights

You may own the property, but your paying tenants have rights. Ignoring your paying tenant’s rights defies conventional wisdom. Your tenants have every right to continue living in the rental property if they are paying their rent and abiding by the details written in the lease.

Some tenants will pay their rent on time and keep the property clean. Their effort will help improve your chances of landing a buyer. A prospective buyer will not be interested in buying tenant occupied property that is not well-kept. You cannot force a tenant out if they are paying their rent and abiding by the terms specified in the lease.

Please keep in mind that selling tenant occupied real estate property can go smoothly if you stay professional and stick with landlord tenant laws.

Tenant Occupied Property – Be Familiar with the Terms of Your Lease

Your lease will determine the best way for selling your rental property. Please take the following points into consideration when you are ready to put your property on the market. Please keep in mind that you should always consider selling your property to a professional home buying company. Contrary to popular belief, they are interested in buying multi-family properties at a reasonable price. This is probably a better option if you 
thought about dealing with a real estate agent.

Month by Month: The month by month lease is the easiest to work with when you ready to sell your tenant occupied property. In all states, you are required to give your tenant a notice that you will be terminating the lease and requesting that they leave the property. Give the tenant a letter of explanation that details your move-out requests.

You should also add a statement explaining that you have plans of showing the property to prospective buyers while tenants are still living in the property. You will have to wait until the tenants leave if they deny your request to show the property. This may seem like a monkey wrench is being thrown into your plans, but it’s the law!

Fixed Term Lease: Do you have a fixed term lease with your tenants? If you do, you are not in position to ask your tenants to leave until the lease is complete. If you do, you may be violating of the law. Your tenants may be able to sue you for unlawful conviction.

Let’s say your lease has an early termination clause. In this case, you may exercise this option based on the terms in your lease. You have limited options if your tenants are in good standing. You will have to wait until the lease is complete before you put the property on the market.

Creative ways of Selling Tenant Occupied Property

Pay Your Tenant to Leave Your Rental Property –You can pay your tenants to leave your property if they are locked into a fixed term lease, and you want a fast sale.

Sell Your Property to Your Tenant – This is a wonderful option for tenants that are not interested in leaving their property. Offer to sell your property to them if they can get funding for the deal.

If the options above do not work, you can always sell to a professional real estate investing company. They will be more than happy to buy your multi-family property at a reasonable price.