At some point in time you may find yourself looking to offload a rental property, but selling the property while tenants are still present creates a unique – and perhaps awkward – obstacle. In order to help lighten the load and make your sale a success, here’s how to sell a house in Sacramento if you have tenants.
Check the Lease Agreement
You must first go over the specifics of the tenant’s lease agreement before moving forward with anything else.
Any required notice of them quitting the property, as well as any other conditions related to this event, should be specified in the contract. If you find yourself in a situation where a lease agreement is unclear, ambiguous, or leaves anything open to interpretation, you should consult an attorney about applicable local and state regulations.
Get Assistance
When selling a home in Sacramento, it’s critical to discover and hire a skilled and experienced real estate professional, as it is with any real estate transaction.
Because no two agents are alike, it’s a good idea to meet with at least three. Shopping around for an agent allows you to get a sense of who has your best interests at heart, understands your unique sales conditions, and what additional resources they have at their disposal.
Some agents may know who to call for help, such as a professional photographer to take great images for your listings or an interior designer to style your home to appeal to the right buyer.
Approach the Tenants
Sit down with your tenants to notify them of what’s going on once you’re aware with the specifics of the lease agreement and have professional assistance.
Have an open and honest discussion about any solutions that might be available. Because this may come as a surprise to them, be patient and diplomatic.
Hopefully, the tenants will reciprocate, and you and the tenants will be able to agree on a schedule for them to vacate the property, if required. If the tenants turn hostile, the fact that you have contacted an attorney beforehand may be useful as leverage.
While your renters have rights and protections guaranteed by ordinances and regulations, landlords also have rights and safeguards.
The prospect of selling the property to the tenants is an important aspect to keep in mind. It’s fairly typical for a renter to buy a rental property from the landlord, and this could help you get closer to your goal faster.
Talking to the renters about a possible lease-to-own agreement, if not an outright purchase, could solve all of your issues.
Be Flexible
If the property is placed on the open market, do everything you can to keep your tenants informed about showings and inspections.
Giving at least 24 hours’ notice is considered polite. It will go a long way toward making everyone’s lives simpler if you try to organize these events at times that are convenient for the tenants.
Give present tenants the benefit of the doubt and try to accommodate them whenever possible if they are not being deliberately difficult about scheduling.
Keep Everyone in the Loop
The last thing anyone wants to find out after everything has started is that they were not kept informed of any changes in circumstances.
You want to sell the house as quickly as possible with as little disturbance and stress as possible, which involves properly communicating with potential purchasers, current tenants, and anybody else involved in the sale.
Professional Partners to Sell a House in Sacramento When You Have Tenants
If you have tenants and want to sell a house in Sacramento, call (916) 507-2502 right now for experienced, expert help!