Do you own an investment property in Pensacola that you’d like to sell? Are you a homeowner in Pensacola who wants to sell your house with tenants in Pensacola? Then you might be wondering – how do I sell your house with tenants in Pensacola?
It’s not uncommon for landlords to be in a situation where you do have tenants but also you want to sell the property at the same time you have tenants living in your property.
The reason why many landlords fall into this predicament sometimes is because circumstances change quickly sometimes. Leaving landlords looking to sell their rental property where they thought once before, that they will keep the rental property for many more years to come.
When other people are living in your house, the selling process can become a bit more complicated. In our latest post, learn more about how to sell your house with tenants in Pensacola!
As a landlord, there may come a day when you wish to sell your house. Even if you have tenants, it is your property and you may sell it if you wish. In some cases, you’ll be able to let your tenants know, and it won’t be an issue. However, you also don’t want to risk losing your tenants and being stuck with a vacant house while your house is on the market. That said, the tenants have rights, and you want to make sure you aren’t violating them.
Hold your horse for now. We’re here to help you in this article with some tricks and tips for you to sell your house with tenants in Pensacola. Below, we discuss common things that arise when you decide to sell your house with tenants in Pensacola.
The Lease Situation
What does your lease situation look like? If you have a month to month lease, ending it shouldn’t be too difficult. You’ will need to provide a fair amount of notice to your tenant, typically 30-60 days. If you are in the midst of a fixed-term lease, things are a bit different. If you want to sell mid-lease, you’ll either need to sell the property to an investor who will honor the lease, or give your tenant some sort of incentive to move out.
Some leases contain early-termination clauses that would allow you to end the lease early in certain situations. Remember, the tenant has rights too under the fair housing act, and if you violate those rights, you could find yourself penalized.
Explore Your Options
Before you jump to any conclusions and start making plans, take a step back and explore your options. If you don’t have much time left in the lease, you might want to wait till the lease term ends. If the lease is still too early to wait for it to end. Ask the tenant to either vacant the house if you have another rental available for them to move to. If not, then ask your tenants if they can buy the property if they qualify to get a loan. It might be a win/win situation for both of you.
Be creative and don’t get discouraged. Do you believe in the old adage “If there’s a well there’s a way”? I DO! Always find ways where you can be better off to sell your rental property in a creative way than just having your rental to begin with!
If You Have Difficult Tenants
If your tenant has violated their lease, you should be able to evict them without an issue. That said, if your tenant is refusing to leave, the eviction process can become long and arduous. Most landlords try to avoid dealing with evictions at all costs.
By selling your house with tenants directly, you’ll be able to avoid the eviction process yourself and be able to move on from the property with cash in hand. Many direct buyers will simply take over the lease and business will go on as usual. If the tenants are in violation of the lease, the buyer will go through the eviction process as necessary. Plus, a direct sale will help you avoid having to list, market, and show the property, things would likely cause even more tension between you and your difficult tenants.
Communicate With Your Tenants
The key to a successful sale with tenants in the property is communication. It will be best for you to inform the tenants of your intentions of selling the rental property.
The key to winning a tenant to your side is for you to be able to accomplish the goal of selling a house with tenants in Pensacola is to have good communication skills. If you don’t know how to communicate with tenants, people, spouses, kids, children, or any human you come across. Nothing will come to solve your problem. Communication is the skill that will get you out of a lot of sticky situations. Trust me. If you don’t know how. I highly suggest you read a book to learn about how to improve your communication skills.
Communicate with your tenants to understand what’s their points of pain that could solve your issue to come up with a solution that can benefit you and the tenants. Or at least. to have all parties on the same page.
If your tenants are still under contract and don’t want to move out, it’s common to offer incentives.
It’s a good idea to offer your tenants some money so you are able not to lose on a big sale and also motivates your tenants because they will be more understanding when they see you willing to help them find another place. Just enough money for them to find another property. Like a deposit and a first month of rent.
By offering some help and showing the tenants the willingness to work with them. Most people will find it hard for them to say no to that. Be smooth my friends.
Give Ample Notice
When you decide to put your house on the market, it’s important to give your tenants ample notice before scheduling any viewings. Tenants have a right to quiet enjoyment of the property, which means that you cannot schedule a viewing without giving proper notice.
Make sure to communicate with your tenants about the days and times that work best for them, and give them at least 24 hours’ notice before viewing.
If you’re finding it difficult to sell your house with tenants in place, then consider finding an investor. Investors like Quality Properties Of Northwest Florida LLC are experienced in buying properties, even with tenants, and can make the process smoother for all parties involved. An investor will usually make you a cash offer and assume the lease and tenant, allowing you to sell your property without having to worry about tenant relocation.
There are many reasons why a direct sale is beneficial for people who need to sell their house with tenants in Pensacola. Investors are happy to take over a property that already has a tenant in place, especially when they are in good standing. It saves them time and money advertising, marketing, and showing the property. They won’t have to bother screening tenants or running the background checks because those things have already been done.
Even if there is a difficult tenant living in the home, an experienced investor won’t have trouble pursuing the eviction process if the tenant is in violation. They have likely had to do it before, and won’t be bothered by the process.
If you want to sell a house with tenants in Pensacola, there are certain ways to go about doing it. Always make sure you are being fair to your tenants, and giving the proper amount of notice. Not only is it the law, but it is the right thing to do.
Selling your house with tenants in Pensacola can be challenging. But by exploring the options we discussed in this article like communicating with your tenants, offering incentives, and giving ample notice. But with difficult tenants, you need to drop the hammer and start evicting.
Having tenants in your house doesn’t need to be a barrier to selling it – with a bit of effort and patience, you can successfully sell your house with tenants in Pensacola.
And last but not least. Selling your house directly to trusted home buying company like Quality Properties Of Northwest Florida LLC is the right thing to do when you’re in a stressful situation like have tenants who are giving you a hard time. To make your life a lot easier. Quality Properties Of Northwest Florida LLC can help you fast without a shadow of a doubt.