Sell Your Rental House While Tenants Reside There

Rental houses with tenants in place are good to sell to other investors as having tenants already in place is easier than going through the process of finding good ones. Work with your tenants to let them know your plans.

House Selling Tips – College Park House Buyers: There is somewhat of a Catch 22 involved when you try to sell a house that has tenants in place. While having tenants that live there and continue to pay rent is a good thing, of course, there’s the problem of trying to market the house at the same time when you want to sell it.

In most cases you can tell when you look through the listings which ones are owned by real estate investors and which ones are for sale by owner or traditional real estate sales. The ones that investors are selling are usually listed at a very reasonable price, but there’s only one picture of the front of the house. There might be more than one picture, but all pictures are of the outdoor portion of the property with no shots of the inside.

The houses that investors are selling are usually listed at a very reasonable price

The listings that have just one picture of the outside and are really cheap may be so trashed on the inside that the seller isn’t asking much and is afraid for you to see what’s really in there as it might scare you away. These listing techniques may be mistakes in a modern society where everything is at our fingertips and we can get all the information we want in 60 seconds or less.

If you have an occupied house for sale, consider asking the tenants if they would mind you coming in to take a few pictures for your listing. It may be best to be upfront with them about the sale as they may be offended that you did not tell them about a possible ownership change. Many landlords try to keep the sale from their tenants as they don’t want to rock the boat. They want to keep collecting rent for as long as possible while selling the house.

If these are solid tenants that pay the rent every month you have a good sale tool at your side. Investors love to buy houses with good tenants already in place, as the income will begin immediately upon property transfer of title. So having tenants is something to advertise in the listing. It could ultimately be something that frightens away regular home buyers though, as they would be aware that the tenants will have to be evicted or asked to leave before they could take possession of their new home. Decide who you will market the house to and create the listing accordingly.

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