Do you own an investment property in Fort Myers that you’d like to sell? When other people are living in your house, the selling process can become a bit more complicated. In our latest post, learn more about how to sell your house with tenants in Fort Myers!
As a landlord, there may come a day when you wish to sell your house. Even if you have tenants, it is your property and you may sell it if you wish. In some cases, you’ll be able to let your tenants know, and it won’t be an issue. However, you also don’t want to risk losing your tenants and being stuck with a vacant house while your house is on the market. That said, the tenants have rights, and you want to make sure you aren’t violating them. Below, we discuss common things that arise when you decide to sell your house with tenants in Fort Myers.
The Lease Situation
Your lease situation dictates how easily you can end it. If you’re on a month-to-month lease, termination shouldn’t be overly complicated. You’ll typically need to give your tenant 30-60 days’ notice. However, if you’re in a fixed-term lease and want to sell mid-lease, your options are different. You’ll either need to sell to an investor who agrees to honor the lease or offer your tenant an incentive to vacate. Some leases include early-termination clauses for specific situations. Remember, tenants have rights under the Fair Housing Act, and violating those rights can result in penalties.
If You Have Difficult Tenants
If your tenant has violated their lease, you should be able to evict them without an issue. That said, if your tenant is refusing to leave, the eviction process can become long and arduous. Most landlords try to avoid dealing with evictions at all costs. By selling your house with tenants directly, you’ll be able to avoid the eviction process yourself and be able to move on from the property with cash in hand. Many direct buyers will simply take over the lease and business will go on as usual. If the tenants are in violation of the lease, the buyer will go through the eviction process as necessary. Plus, a direct sale will help you avoid having to list, market, and show the property, things would likely cause even more tension between you and your difficult tenants.
Selling Directly
Selling a house with tenants in Fort Myers directly to investors offers several advantages. Investors are often eager to acquire properties with existing tenants, particularly if they have a positive rental history. This arrangement saves investors time and money typically spent on advertising, marketing, and showing the property. Moreover, they can bypass the tenant screening and background check processes, as these have already been completed.
Even if there’s a challenging tenant in residence, experienced investors are equipped to handle eviction proceedings if necessary. They are familiar with the process and won’t be deterred by difficulties. Overall, selling directly to investors streamlines the process and mitigates potential complications associated with tenant occupancy.
If you want to sell a house with tenants in Fort Myers, there are certain ways to go about doing it. Always make sure you are being fair to your tenants, and giving the proper amount of notice. Not only is it the law, but it is the right thing to do.