How to Sell a House in San Antonio With Existing Tenants

When landlords have tenants in a property that is up for sale, they should be aware of their tenant’s rights and make the process as stress-free as possible for the buyer. This article will cover the traditional way to do this. However, for those in San Antonio, there are alternative options with fewer complications. The perks of this will be discussed in the following section.

Sell Your Tenant Occupied Home Through MyHouseIntoCash

Navigating the process of selling a house while still living in it can be a daunting task, but MyHouseIntoCash can make it easier and less stressful.

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

No Showings

Our intention is to buy properties in San Antonio, TX immediately without the need to publicize them or display them to potential buyers. We can make an offer without a detailed assessment of the property, just needing a quick visit. After providing a quote, there is no requirement to involve home inspectors and there will be no need to hire contractors or anyone else to meet the local authority’s requirements for repairs.

No Real Estate Agent Fees

If you join us, you won’t have to pay the usual charges that come with enlisting a real estate representative. We will act as the buyer, so you will get the full gain from the sale.

Cash Home Buyer / Quick Sale

Our cash-buying option is a convenient and cost-effective solution to selling a home. It eliminates the difficulty of managing tenants in the property, and we can handle the process until the lease is finished.

Sell As-Is

Our service is unparalleled, giving you the opportunity to dispose of your house without any required renovations or public viewings. We’ll buy the residence regardless of its condition – even if it requires extensive repairs, has been condemned, experienced a fire, or been damaged by water.

We Can Prove It!

Discover the advantages of working with MyHouseIntoCash to simplify the process of selling your rental property. They can also provide insight into the difficulties that may occur when landlords attempt to sell a rental that has tenants living in it with the help of a real estate agent.

Sell a House with Existing Tenants With a Realtor

Landlords may be anxious that if they sell their rental property, their tenants could immediately vacate, creating a complicated monetary situation. This is because if the rental unit is empty, the landlord would have to cover the cost of both the rental loan and their own home simultaneously, which can be financially burdensome.
The agreement between you and the renters will stay valid until the end of its term, regardless of if you opt to sell the property. This implies that the people living in the residence will be obligated to the deal until the sale has been finalized. When you are able to find a buyer who meets your expectations, they can decide if they want the tenants to remain in the residence after the expiration of the contract, if the occupants have not already ended the agreement.
Landlords who are looking to sell a home that is currently being rented out may have a few questions about how to best go about the process. This guide provides helpful advice on how to effectively handle the sale of a rented property with occupants, and outlines the considerations that should be made. Following these instructions will help ensure the sale is successful.

Let Your Tenants Know Your Plans

The legal expectations of renters vary depending on where they are located. It is not always necessary to inform them of an upcoming sale of the rental property, however it is wise to be open and honest with the tenant if it affects their living situation. Even if the tenant is still under a lease, it is recommended to give them adequate warning before the sale takes place to prevent any unexpected shocks.
Let the tenants know that their home is for sale, and explain the process. Potential buyers and checkers will need to be allowed into the house, and some fixes may have to be done. If there’s no one who wants to buy the dwelling without making any changes, the renters should start looking for a new place to live if their lease is about to end. The new owners must honor the rental agreement for the agreed-upon time, but not beyond that.

Explain to Your Tenant There Will Be Showings

In a busy real estate market, landlords may have to show their rental units multiple times before they can successfully find a tenant. While some owners may want to close the deal quickly by accepting a cash sale, the current tenant is not required to do any extra cleaning for showings. However, if the occupant is a hoarder, a separate set of guidelines must be followed.
For a successful sale, tenants must ensure the home is orderly and all kids and animals are supervised. To prevent animals from running away, they should be removed while buyers are viewing the premises. Being helpful and keeping the house neat is essential when attempting to sell a home that is still occupied.

But Work With Your Tenant to Schedule Showings on Their Schedule

As a landlord, it is essential to alert your tenant in advance of any potential buyers visiting the property. This can be difficult to coordinate as the buyer may want to view it at a time that is most convenient for them. Therefore, it is generally recommended that the property is shown when the tenant is not there, even if they agree. Be sure the tenant is comfortable with this before permitting any viewings during those hours.
Before entering a rental home, it is important to provide the tenant with a substantial amount of warning, as it is typically legally mandated to provide 24 hours notice. Failing to do so could result in the tenant denying access and making it more difficult to show the property, as well as preventing the home from being presented in its finest condition.

Help Your Tenant Move to a New Place

If the tenant needs to relocate prior to the completion of the sale, it may be possible to help them find another home. Do you have any other residences that will become available shortly? This could enable them to find somewhere else to stay. Depending on the investor, some may be willing to invest in a property with tenants present, while others may find an unoccupied building more attractive when it is listed for sale.
Provide another of your properties that would be suitable for your tenant’s needs to prevent them from having to look for a new place and you from losing potential earnings. If that isn’t an option, compose a formal recommendation letter with accurate details, expressing the advantages they experienced while living in your property.
If you own a property and are considering selling it, you may want to consider keeping your tenants in the house and helping them find a new place to live. Doing so could help you get rental income while you attempt to sell the property. MyHouseIntoCash is a reliable buyer that can make the sale process smoother than when using a real estate agent, but if you go the traditional route, there are ways to minimize disruption to your tenants.

Examine the Property Condition

Prior to putting a house on the market, particularly a leased one, it is necessary to assess its condition. See if your renters had any issues or concerns while living there, as this could be a deciding factor when deciding to sell.
Before taking any action, thoroughly inspect the property. You have the option to do any necessary repairs or enhancements, or simply make it more attractive for selling. If you decide not to do any repairs, be sure to truthfully display the condition of the home to possible purchasers.

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

No matter their actions, tenants still have certain inalienable rights as renters of a property. The specific duties of a landlord may vary by location, but all must abide by the same legal standards in the United States.

Honor the Rental Agreement

When someone purchases a property, they are obligated to maintain the tenant-landlord agreement that was already in place, even if the sale date has passed. This means that the new owner is obliged to abide by the conditions of the lease and take care of the property according to the conditions of the agreement. Unless the agreement has been legally approved by the state, the terms of the lease remain in effect.

Residential Tenancies Act

The Residential Tenancies Act establishes the responsibilities of renters and landlords when it comes to renting a home. It touches on topics such as payments, maintenance of the dwelling, access to the property, repair requests and the return of security deposits.

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

MyHouseIntoCash is knowledgeable about tenant laws and can make it easy for you to sell a rented property. We can handle the details, so get in touch with us by going to our website and submitting your information.