Sell A House With Tenants In California
Selling a house with tenants in California. can be tough. The number one thing you don’t want is an angry tenant. Before you show your property make sure you give the tenants at least 24 hour notice if you need to show the place. You may have to offer a bonus for leaving the property in great shape once you sell if you thing they are going to give real estate agents and prospective buyer’s a hard time.
Do My Tenants Have To Co-Operate When I Sell?
As a landlord and owner of the property, you may sell to whomever you please. Important to remember, if you sell the lease agreement shall remain in place. A lease agreement is a contract and cannot be breached just because you’re looking to sell the place. Tenants will have to be given at least a 24 hour notice before someone enters the property. Tenants must give reasonable access to the property.
What if I don’t have a formal lease agreement?
If you don’t have a formal lease agreement, it can be assumed that the lease is month to month. If this is the case, you’re required to give at least a 30 day notice to vacate if you want your tenants gone before you sell or close. If the tenants have been occupying the property for more than 1 year, this notice may increase to 60 days depending on the jurisdiction. Check with a local professional if you’re not sure.
Tips On Getting Tenants To Cooperate When Selling A House
Note that selling a house with tenants occupying can affect value for the negative.
For one, think about all the negative things they could tell a potential buyer if angry about having to show the place. Also note, that it will be near impossible to sell conventionally while going through an eviction.
The best way to sell is to try to get the tenant on YOUR side. There are a number of ways to do this.
- Ask them how you can make the process easier.
- Make sure to give tenants at least 24 hour notice.
- If a buyer wants the property delivered vacant, offer moving compensation to the tenants.
- Offer some type of bonus for leaving the house in great shape. (Half off rent, $100 gift card)
- If the tenant is really stubborn, offer them cash to leave the property.
- Ask them what times they are able to show the place.
- Offer to compensate tenant every time the show the place, and let them know you will pay once the property is sold.
Selling A House With Tenants In California<<- Get an Offer Here
Time is money, and the faster you get the house under contract with a buyer and sold, the sooner you can get on with life. Selling conventionally with a tenant offers many hurdles to overcome, and can anger a tenant. Maybe even to the point of causing damage.(They can do a lot of damage!)
In short, selling a house with tenants in California can be very tough. If you need to evict and tenant, let us worry about it!
If you’re looking for an offer on your property, Quick Home Offers can buy property with existing tenants! Get a free, no-obligation offer by filling in the quick form below.
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