How To Sell A Tenant Occupied Home

Let’s face it, selling a home with a tenant in it is tricky, but not impossible!

In fact, we come across this more than you would probably think and we have built an entire process around this type of situation making it a smooth transition for everyone involved.

But before you get your tenant occupied home on the market there are a few things you need to consider:

1.) Is your tenant on a current lease or are they on a month to month agreement?

Now, we are not an attorney nor are we trying to be. If you are unaware of tenant law in your local area it’s best to understand what your rights are as well as your tenants. But we can say it’s possible to sell your property in both these scenarios.

With an actual lease term you have two options.

The first option is the potential buyer can assume the lease and become the new landlord honoring all the agreed upon terms in the original lease. Or the second option is the current tenants can agree to end their lease in written form with you.

Your best bet is to talk to your tenants. Don’t be sneaky with them, be upfront and have an actual conversation about why you are looking to sell and ask them what they would like to do going forward.

2.) Communication is key

We’ve worked with a lot of tenants over the years. Some are a lot easier to work with then others. Put yourself in their shoes for a second. If you were a tenant and all of a sudden felt like you were getting kicked out of your home, how would you feel?

We aren’t saying that you shouldn’t move forward with the sale, but we are saying you definitely need to be sensitive about the situation. Remember we are all human!

3.) Make showings convenient for your tenant

Let’s face it, no one wants strangers in their home. Especially when they get nothing out of having strangers in their personal space. This isn’t an easy process for them and we understand that.

When we work with tenants we make sure to be courteous and respectful of their schedule. Sometimes we have a certain day/time that we agree on with the tenant. And at all times we give each tenant 24 hour notice for all showing requests.

So we just want to remind you that there is a right way to put a tenant occupied property on the market and a wrong way.

We work closely with each of our clients to make sure we are doing it the right way.