How to Sell a House in Jacksonville With Existing Tenants

Landlords who have tenants living in a rental property they wish to sell may find the traditional route of listing with a real estate agent to be difficult. It is essential to be respectful of the tenants while making the transaction as simple and hassle-free as possible for the buyer. This article will explain the regular way to sell a home while occupied. However, many people in Jacksonville may not want to commit to the time-consuming and costly process. Thus, there is a better, faster option to sell your rental home with tenants, and the benefits of this choice will be discussed next.

Sell Your Jacksonville Tenant Occupied Home Through MyHouseIntoCash

Selling a house with tenants living in it can be a daunting experience, however MyHouseIntoCash provides an effective approach to reduce the stress associated with the process.

What are the Benefits of Selling to MyHouseIntoCash, a Local Home Buyer?

No Showings

We are focused on quickly buying houses in Jacksonville, FL without having to list them on the MLS or show them to multiple people. Sometimes, an offer can be made without even inspecting the property, only requiring a brief visit. After offering you a price, we won’t involve home inspectors, nor do you need to hire contractors or anyone else to get the county’s approval for repairs.

No Real Estate Agent Fees

When you choose to do business with us, you won’t need to worry about shelling out money for the typical costs associated with employing a real estate broker. We will be the buyers and you will receive all the revenue directly.

Cash Home Buyer / Quick Sale

Our cash-buying service provides a convenient and cost-effective solution to selling a property. The quick transaction eliminates the stress of tenants staying on the premises, and we will happily take over the property management until the tenancy has expired.

Sell As-Is

We offer a unique service where you can sell your home without having to worry about preparing it for buyers or hosting an open house. We will buy your property in its current condition, no matter how many repairs it may need. We have no problem with purchasing homes that require extensive repairs, including ones that are condemned, damaged by fire, or damaged by water.

We Can Prove It!

Contact MyHouseIntoCash to learn how we can make the process of selling your rental house easy and hassle-free. Additionally, we can talk about the possible difficulties that may come up when someone who has a rental house that is still occupied by renters tries to sell it through a real estate agent.

Sell a House with Existing Tenants With a Realtor

Landlords may be concerned that if they put their rental up for sale, their tenants may vacate the property prematurely, which could result in financial difficulty. This is due to the fact that if the rental unit is vacant, the landlord must pay for both the loan payment for the rental and their own residence, which can be expensive.
The leasing agreement between you and your renters will remain valid until it expires, even if you decide to sell the property. This implies that the renters are legally obligated to stay until the property is fully sold. After you find a suitable buyer, the buyer can then decide if the tenants will continue living there after the lease has expired, on the condition that the renters have not terminated the agreement.
When a landlord is attempting to sell a property that is currently occupied by tenants, there are certain questions that may arise. Should the tenants be informed? Is it best to keep the sale confidential? The following guide provides advice on how to handle the sale of a rental property with existing tenants, and what considerations should be taken into account. Following these tips will help ensure the best outcome when selling a rental property.

Let Your Tenants Know Your Plans

No matter where you live, the rules surrounding what a tenant is entitled to vary. As such, it isn’t always mandatory to inform them that you are selling the rental property. Still, it is recommended to be transparent about it and let them know what’s going on, as it may impact their residence. Even if the tenant is in a lease, it is wise to advise them about the sale before it occurs to keep them from feeling alarmed by the abrupt transition.
Let the renters know that their house is being sold and what the process will look like. Prospective buyers and inspectors will need access to the house and there could be some repairs that need to be done. If no cash buyer or investor is found who is willing to buy the home without any changes, the tenants should begin searching for a new place to live if their lease is running out. The new owners have to follow the lease agreement for the designated amount of time but no longer than that.

Explain to Your Tenant There Will Be Showings

In a highly competitive market, it is typical for rental properties with existing tenants to be shown 10-25 times before being sold. Consequently, many homeowners opt for a cash sale in order to expedite the process. However, tenants are not required to clean and organize the unit for showings, making this challenging to achieve. If the tenant is a hoarder, additional steps must be taken, which are outlined in a separate article.
When showing the house, it is important to have the tenant keep the home in an orderly state and ensure that any pets and children are supervised. Pets should be removed while potential buyers are present, as leaving the door open can lead to an escape. It can be difficult to successfully sell a house when there are still occupants living in it, so having tenants that are cooperative and maintain a clean environment is key.

But Work With Your Tenant to Schedule Showings on Their Schedule

As a landlord, it is essential to give your tenant plenty of notice before any viewings and to fit them around their own schedule. This can be difficult, as potential buyers may want to view the property when it is convenient for them. Therefore, it is usually a good idea to show the property without the tenant present, even if they are amenable to it, so you can try to schedule viewings when they are away from home. Ensure that the tenant is content with the arrangement before allowing viewings during these hours.
Prior to showing a rental home to potential tenants, it is important to give them adequate warning. If not enough time is given, they may not be able to make the space look its best. Furthermore, most state laws and contracts stipulate that a minimum of 24 hours must be given. If the tenant does not receive the necessary time, they can deny entry. This then further complicates the process of arranging a viewing.

Hep Your Tenant Move to a New Place

If the tenant needs to vacate before the sale of the property is finalized, you could help them find a new home. Do you have another property that will be available soon? It may be an option for them to relocate. While some investors may be open to buying a home with existing tenants, other buyers may prefer it to be empty. An empty house may make the property more desirable to potential buyers when it is up for sale.
Provide alternative rental properties you own that meet the needs of your current tenant. This way, they don’t have to worry about finding a new place and you won’t miss out on any income. If you don’t have other properties available, offer to write a letter of recommendation on official letterhead, being honest and highlighting the positive qualities the tenant had while living in your property.
It may be beneficial to keep your tenants in the property to receive rent while you are attempting to sell the house, but you may want to aid them in finding a new place to live prior to starting the selling process. If you choose to go with MyHouseIntoCash as a reliable buyer, you can prevent the many hindrances that come with a real estate agent-assisted sale. Nevertheless, if you decide to list your home on the traditional market, there are measures you can take to decrease the disruption to your tenants.

Examine the Property Condition

Prior to selling your real estate property, it is essential to evaluate its condition. This is especially significant when it comes to rental properties, since you may not be aware of any potential issues that have been overlooked. Inquire your tenants about any issues they’ve experienced during their stay, as this could influence your decision to sell.
Take some time to examine the property firsthand. You may choose to do some renovations or just make the rental look better before it is put up for sale. If you don’t do any repairs, give an honest description of the home’s condition to those who are considering buying it.

What Are My Responsibilities Toward the Tenant as a Property Owner?

Regardless of a tenant’s behavior, they are still entitled to specific rights as a renter. Although the landlord’s responsibilities may vary in different locations, there are certain laws that apply to all landlords in the United States.

Honor the Rental Agreement

When a rental property is sold, the new owner must adhere to the tenancy lease agreement established between the former owner and tenant, even if it extends beyond the sale date. This means that the new owner is obligated to follow all the terms of the lease and provide quality management of the property. Unless the lease has a provision that is recognized by the state, the terms of the lease are still in effect.

Residential Tenancies Act

The Residential Tenancies Act explains the legal rights and responsibilities of tenants and landlords when renting a home. It includes information about payments, upkeep of the property, access to the dwelling, repair requests, and the refund of security deposits.

Call MyHouseIntoCash To Sell Your Tenant Occupied House…We’ll Buy it For Cash!

If you need to sell a rental property with a tenant, MyHouseIntoCash can help alleviate the stress. We are aware of the legalities concerning tenant rights and will provide you with an easy resolution. To find out more, please visit our website and send us your details. We can help make the process easier for you.