Homeowners continuously feel it’s impossible to sell their property when they have a renter or a tenant living in there. Although it might be a more complicated process than trying to sell a property with no tenant, it’s not impossible at all.
With the support of a home buying company, it’s way more comfortable and faster to sell a house with tenants in Charlotte, NC. But there are also essential details every homeowner should know about. Keep reading to find out how to sell a house with tenants in Charlotte, NC.
Is it Legal to Sell a Property With a Tenant?
Can you actually sell a house with a tenant living in it? That’s a pretty common question that comes to a homeowner’s mind when selling their property. The short answer is yes. You can sell your property with a tenant living in it.
The majority of states’ laws give tenants the right to stay in a rental property after a sale until their rental contract expires. So it’s crucial to take into account the type of contract your tenant is currently on before selling your house.
Tenancy Terms
If your tenant is on a month-to-month, then your buyer would only need to wait until the month is over for your tenant. But it’s critical to give your renter the amount of notice required under your state law.
You also need to consider how long-term tenants look to buyers. Investors might be attracted to acquire a property with long-term tenants in it. Still, buyers with plans of living at the house won’t be tempted.
Potential Buyers
Many home buyers are glad to acquire a property with an existing tenant as long as they’re up to date with their payments and have a lease or rental agreement with the homeowner. Homebuyers are flexible buyers that can wait for tenants to finish their existing rental contract.
Home buying companies make the process of selling your rental house with a tenant living in it more straightforward. Simply because, unlike other potential buyers, home buyers can be interested in buying your property without different rental scenarios.
They Buy Any Type of Property
Other potential buyers might be looking for a specific type of property to buy. But home buyers have the flexibility of being interested in purchasing any kind of property.
Investors might look for complexes with plenty of renters as they and many others are investment-oriented potential buyers. They’re a particular niche that reduces your chances of selling whenever your property doesn’t match their interests. Unfortunately for homeowners, this is usually the case. But with home buyers, you can expand your chances of selling any type of property.
No Multiple Showcases or Good Conditions Needed
When you’re trying to sell your rental home to other potential buyers rather than home buyers, you probably need to schedule showcases and clean up your house. Showcases can be stressful as you need to coordinate with your tenant the appropriate time to do so. It also needs to coordinate with your potential buyers’ time.
Also, if you have a messy tenant, you’ll probably need professional cleaning services. Even worse, you might need to schedule a repainting job or provide maintenance to some areas of the house. These steps are not only time-consuming but also expensive.
Home buyers offer you the alternative of skipping all of these steps. They’re willing to buy properties no matter their conditions. They only need one showcase to make a cash offer on your rental house, and they can accommodate your preferred schedule.
How to Start Selling Your House With a Tenant
After reading how much easier it’s to sell a house with a tenant living in it when you choose a home buyer, it’s up to you to start the selling process. Depending on your renting scenario, you might need to take some steps to sell your rental house.
When having a long-term tenant, you can always negotiate a modification on their rental contract. Money compensation could serve as an incentive to terminate their contract earlier. If the tenant accepts the deal, it’s just a matter of figuring out the appropriate time for them to leave.
Usually, you have to schedule a cleanup or invest in extra costs before selling a house to a potential buyer. Still, you don’t have to worry about any of that with us. Here at Opening Doors Properties, it’s possible to sell your rental house without facing a tedious selling process. Contact us now to learn how.