Have you been trying to sell your house with tenants in Houston, but for whatever reason, it’s just not working in your favor. Check our latest blog post to get some great ideas so you can sell your home.
Do you own an investment home in Houston that you are having trouble with and you would like to sell it?
As a landlord, there comes a time when the headaches of dealing with bad tenants become overbearing.
However, you are a good landlord so when selling your house with tenants in Houston, you’ll want to make the transition as easy as possible.
The first thing you want to do is let your tenants know of your intentions and what they should expect.
If they wish to stay in the home, try to find a buyer that doesn’t mind purchasing properties with tenants.
Someone who will honor the lease and make the transition invisible to the tenant.
That said, it is business. If you are losing money or need to sell for other reasons, don’t hold on to the property longer than you have to.
Tenant’s Rights When A Landlord Sells A House In Houston
Before you decide to sell your house with tenants in Houston, make sure you are familiar with the tenant’s rights.
If you are asking them to vacate the property, make sure you are giving them the right amount of notice and are operating according to the law.
You will need to have a termination clause in your lease allowing you to end the lease early.
Selling your house with tenants in Houston can seem difficult.
But if you adhere to the legalities and work with the right buyers, the process can be done quickly and without much disturbance to anyone’s lives.
Here is a list of options you have as a landlord:
- You can have a month to month lease with your tenant
- As we stated above you can use an early termination clause in the lease
- Wait until the lease expires
- Sell the property to your tenant
- Sell the property to an investor with the active lease
- Offer cash for keys
Sell the Property to an Investor With an Active Lease
A great option is to sell your house with tenants directly to an investor. Not many people who plan to buy a home the traditional way is looking for a home with tenants.
They want a home for themselves, they are not interested in being landlords, but investor are.
Selling your house directly will eliminate the need to clean, market, stage, and show the home.
All of these can be difficult when there are tenants living in the house. In order to successfully sell your house directly, you will need to find the right buyers who are willing to take on a house with tenants.
In fact, there are many investors who will see this as a perk. One less thing they have to do and having an instant income, without any costs for renovating, cleaning, can prove to be very valuable to them.
Having a great tenant with a solid background would be icing on the cake for any investor.
Want to know more about selling your home directly to an investor.
Relate article: The Pros and Cons Of Selling Your House To A Direct Buyer in Houston
Selling a Rental Property to Tenants
Aside from you, there aren’t many people who know and love the house the same way you do.
If your tenant has been there for a while, they will have likely developed an attachment not only to the house but to the community where they are living.
If the house has truly become their home, they may be interested in buying it outright.
Before you spend time and money on the listing process talk to your tenants to see if there is any interest. The perfect buyer for your Houston house may be right under your nose!
Related: 5 Things to Do When a Tenant Stops Paying Rent in Houston
Wait to Sell the Property
If waiting is an option, consider holding off on the sale until the lease is up. Then, let your tenants know that they will need to relocate as you will be putting the house on the market.
You can give them a heads up ahead of time, letting them know of your intentions.
Helping with moving or as a reference can help soften the blow, especially with a long-term tenant.
If the sale isn’t needed immediately and you want to spend the time and money on a listing, waiting until the house is vacant will be in your best interest.
Selling your house with tenants in Houston can be challenging depending on your situation and who your tenants are.
However, when you plan ahead, act thoughtfully, and stick to what the law says, it can be done. We would love to help you learn more about the options available to you!