Do you need to sell your house with tenants in Murfreesboro? It can be done no doubt but how easy or difficult it is depends on your lease and the people living in the property. Learn more about how to do it in our latest post.
When selling your house with tenants in Murfreesboro, you’ll want to make the transition for them as easy as possible. Let them know you are planning on selling the property and what they should expect. If they would like to stay in the home, you can always look for a buyer who welcomes the idea of buying with tenants in place. Someone who will honor the lease and make the transition invisible to the tenant would be ideal. That being said, it is business. If you are losing money or the tenants are a royal pain then do what you have to do.. Don’t hold on to the property any longer than you have to, but of course operate inside the law.
Tenants Rights
Before you decide to sell your house with tenants in Murfreesboro, 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 proper notice and are operating according to the law. You will need to have a termination clause in your lease which allows you to end the lease early in the event you decide to sell the property. Selling your house in Murfreesboro with tenants in place in may seem difficult. But, if you adhere to the legalities and work with the right buyers, plus try to play nice with the tenants the process can be done quickly and without much disturbance to anyone’s lives.
Sell Directly
Selling your house directly to a cash buyer will eliminate the need to clean, market, stage, and show the home. All of these may seem intrusive to 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.
Offer Incentives
If you plan on listing the house with a Murfreesboro real estate agent you will either need to wait until the tenants have moved out or have their cooperation in showing the home. You don’t want to have a tenant sabotage a showing whether intentionally or unintentionally, so you will need to make sure they are on your side. To do this, you can consider offering reduced rent in exchange for their time. You could also offer reduced rent as an incentive to get them to move out. Or maybe offer to pay the first months rent at their new place. Selling your house with tenants can be very inconvenient for them. Offering financial incentives can help make the transaction an easier one for them.
Be Respectful
Remember, it might be your house, but it is currently where your tenants are calling home. They may feel a sense of attachment or worry about being uprooted after living in the home for a long time. While you may need to sell the house for your own personal reasons, try to be as respectful and accommodating to your tenants as possible. This will make things easier for them and for you as the home seller.
Sell To Your Tenants
Aside from you, there aren’t many people who know and love the house the same way as 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 neighborhood. If the house has truly become their home, they may be interested in buying it outright from you. Before you spend time and money on the listing process talk to your tenants to see if they have any interest. The perfect buyer for your Murfreesboro house may be living right there under your roof!
Wait
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, 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 Murfreesboro 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!