If you have rented out properties for any length of time, you have been sure to have your share (and it may seem more than your fair share!) of bad tenants. They are late paying, annoy the neighbors so much they call you, treat the property poorly and are just not good people! This can cause you stress and anxiety that you do not need. It can also be hard to sell a property with bad tenants. It can also be hard to evict the tenants, especially if they are family! you would be surprised how often a family member can take advantage of the family “bond” and abuse the situation and property they rent.
Can I sell an Occupied House?
While you can sell a property that is “tenant occupied” it can be difficult, the prospective buyers will: A, have to want to buy a rental and B, be satisfied that the tenant is in good standing and worth taking on.
A, have to want to buy a rental
B, be satisfied that the tenant is in good standing and worth taking on.
A good tenant with a solid history can be an asset to the sale of a rental property, a bad tenant is a different story.
Asking the tenant to leave or evicting them.
If the tenant is on a month to month lease, you could end the lease and give them notice to vacate, this could take 30-60 days depending on the laws for your locale. If it’s a family member, there are definitely more complicated situations that could arise. If they are in a long term lease, 6 months or yearly, you would have to wait for the lease to expire, unless they are in arrears with the rent. You could pay them to leave… yes, that does happen. A Property owner wants to sell before the end of a lease and as an incentive for the tenant to leave early, they pay them a fee and may even offset moving expenses.
If you do have to evict a tenant, there is a proper legal process that has to be followed to avoid legal ramifications. You must have a valid reason for the eviction, such as non-payment of rent, damaging the property, breaching the terms of the lease.
You must notify the tenant of the breach and give them a minimum of three days to correct the breach. You can then file a lawsuit to evict them, and even after obtaining the court order, must still give them 5 days to vacate. With really problematic tenants you may need to get attorneys, the courts and the Sherriff involved, the legal expenses involved can mount up quickly when dealing with them.
Showing an Occupied Property.
While you have the legal right to show a property that is occupied, the laws vary from state to state as to how you can do this. Most restrict the showings to reasonable hours, and many require you give the tenant advanced notice that you are going to do so. While the tenant cannot refuse your access to show the property, a showing isn’t going to go well with a resentful or hostile tenant home at the time.
What can we do to help?
Want to sell the house without having to deal with the bad tenant? we will buy your property with the tenant in it, we will then deal with relocating them, removing or evicting them. That will be our problem and expense, not yours. If we buy your property as-is, with the tenant intact it is our problem and we will cover all expenses involved in getting them to vacate the property. If the problem tenant is a family member, save yourself some of the stress and anxiety and let us be the bad guys! Give us a call today on 925-735-5669 or fill in the form above.