Do you need to sell your house with tenants in Gladstone? The process can be much more difficult than a typical sale. Learn more about what to expect in our latest post!
Maybe you own an investment property in Gladstone that isn’t making you money. Maybe you are tired of constant tenant turnover. Maybe you are tired of dealing with frustrating and disrespectful tenants, but you aren’t in the place to deal with the eviction process. There are a number of reasons why a homeowner would want to sell a house with tenants in Gladstone. As you can imagine, it may be difficult to convince your tenant that selling the house is a good idea. In order to get their support, you’ll want to let them know about everything going on, and making selling worth their while as well.
Make it as Painless as Possible
We have sold a lot of rental houses and we have found that spending time taking a ton of photos of the home to share with prospective buyers will allow you to show the home virtually so you don’t have to disrupt your tenants lives as much. Especially if you have really great tenants that the new buyer is going to want to keep, you don’t want to bug the tenants too much. So marketing on photos is a great alternative, then only show the propety to your really serious buyers.
We often sell landlords who don’t want their tenants to know the propety is for sale. Instead they have a lot of “insurance people” and “building inspectors” checking out the property. Yet 9 times out of 10 your tenant is going to do a little research online and find out their home is for sale. It is much better for you if you tell them the truth upfront and tell them you are working to sell to a landlord who will want to maintain the property as a rental unit.
Offer An Incentive
If you opt to list the house with a Gladstone real estate agent, you will want the full cooperation of your tenant. By offering an incentive, you’ll hopefully be able to avoid any resentment your tenant may be harboring for selling the house out from under them. You have to remember, that while you own the property, it is still the place they call home. By offering to help them moving costs, first months rent somewhere else, or a discount on the amount of rent they are paying, you will hopefully be able to get them to help you facilitate the sale.
You can also offer to help them find a new rental, providing an excellent reference as needed. Keep in mind, that asking them to clean and leave while the house is been shown is a lot. Make sure you compensate your tenants accordingly to make the process run smoothly.
If the house is going to be shown with a tenant still living there, offer to pay for a professional cleaning service so that the dirty work isn’t falling on them. You can also offer them movie tickets or a gift certificate to a restaurant so they have something to do while the property is being shown.
Wait Until The Lease Is Up
As a landlord who wants to sell their house with a Gladstone real estate agent, it may be in your best interest to wait until the lease is up. Trying to coordinate repair work, property showings, and keeping the house in showing ready condition can be a lot for a landlord to ask of their tenant. In many cases, landlords face backlash and even situations where the tenants disrupt a potential sale. It can be better for all parties if you are able to wait until the lease is up before deciding to sell the house in the traditional way.
Terminate The Lease
If your tenant has violated the lease in any way, you can evoke an early termination clause in the lease. Not that you want them to slip up, but if they have been consistently late on rent or have been a documented nuisance to the nearby neighbors, you may be able to end the lease sooner than planned. When drafting your rental agreement, make sure to include details on what exactly will merit an early termination of the agreement.
If you need reference to a good eviction attorney locally, we highly recommend the team at www.MOKSLaw.com
Sell Your House Directly
If you want to sell your house with tenants in Gladstone, the easiest way is by choosing a direct sale to kcmoHomeBuyer. We will buy your house directly, whether you have tenants or not. Our process will let you get rid of the unwanted investment as quickly as possible while receiving a great price for the home. In most cases, when you sell your house directly to kcmoHomeBuyer, the lease will stay in place and your tenant will go undisturbed. The only change for them will be where to send the check each month.
Find Out If Your Tenant Wants To Buy
When looking to sell your house with tenants in Gladstone, you may want to let them know about it first. They already live there, so no moving is involved. They have likely made the house their home and gotten accustomed to the neighborhood. If your tenants seem are happy to live there, they may want to buy the house themselves. If financing is a problem and you don’t need the full amount for the property right away, owner financing can be an option if you own the property outright, at least until they are able to get the credit or cash they need for a traditional loan.
Understand The Tenants Rights
When trying to sell your house with a tenant in Gladstone, you’ll need to be aware of the rights of the tenants. So long as no violation has occurred, in most places, a tenant has the right to stay in the home until the lease is up, whether or not someone buys the home.