Five Things You Can Do to Sell a Property with Tenants

The common way of selling a rental property is to wait for a tenant’s lease to expire. Unfortunately, that’s not always possible. Not all rental property owners can wait out a lease to expire, in which case, selling a rental property goes from a straight-up proposition to something that can turn ugly quickly if the seller is not too careful.

This is where meticulous and careful planning goes into play.

It would also help to follow the five tips that we outlined below:

1.    Check local state rules first

Rules for local tenant-landlord relationships can differ from state to state, so you might want to check first about things that you’re legally allowed to do.

A better idea would be to consult a licensed real estate agent with experience selling rental properties. But, either way, it’s always a good idea to check local state rules and laws first.

2.    Have a meeting with your tenants

You should never blindside your tenants.

Invite them out for coffee, or somewhere else, and talk to them about what you plan on doing. Never ever force them to take your position. Instead, try to understand things from their point of view, especially if they get defensive or are hurt by what you’re about to do.

What you want to do is to explain properly what your reasons are for selling your home, what’s going to happen to the property once it’s sold, listen to how they feel about the situation, and hope that they take it in stride.

3.    Set protocols for property showings

Communicate, in writing, the protocols for property showings for prospective buyers.

Yes, you own the property. However, that doesn’t mean that your tenants have no rights.

Try and work together with your tenants a proper schedule of when prospective buyers can take a look at the property to help smooth things over.

4.    Compensate tenants who cooperate with added incentives

You can’t really expect your tenants to go down without a fight, because, the fact is, they’re about to lose their home.

Just imagine how big of a change that is.

Once it’s sunk in, try to find ways to provide tenants with some form of compensation should they cooperate throughout the selling process. Giving them a discount from their monthly rent up until the property sells is a good start.

5.    Help out your tenants however you can

Outside of providing compensation, you might want to do a bit more and help your tenants out however you can.

Try to get creative and find ways to make the transition easier for your tenants. You might even want to hire an agent to help them find a place to move to once the deal is signed and they no longer have the home.

You don’t necessarily have to do this, but helping your tenants out is the humane thing to do and it also helps guarantee that they’ll cooperate.

Asking yourself, “how do I sell my house fast?”, especially if it’s a rental property, can get a little bit tiring. You’ll realize this even more after you’ve gone through multiple showings and not a single buyer has signed a deal yet.

If you want to avoid having to go through this long and arduous process of selling your house the traditional way, you can contact Cash Buyer New Jersey.

We buy houses NJ for cash so you don’t have to worry about trying to get your tenants to cooperate for weeks if not months.

You just have to let us know that your property is on the market, and we’ll give you a fair offer. If you like it, we can process the papers, and the proper will be off of your hands in just a month.

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Estefania Castaneda
Estefania Castaneda
17:24 04 Sep 21
Extremely pleasant, attentive to all my needs always. It was a pleasure renting an apartment from Ken.
Vichai Soysouvanh
Vichai Soysouvanh
14:17 03 Sep 21
Can't say enough about Ken and his team. This was the most seamless sale I made. I didn't have to deal with all the... nonsense that comes with selling your home. They bought my house as is, I didn't have to declutter and pay a broker commission. All in all great experience, will do business again.read more
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I had a wonderful experience renting one of their properties for 7 months. The apartment was beautifully remodeled and... Ken and his team were always responsive to any needs. I would recommend to anyone looking to sell or rent.read more
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Alfredo Garcia
Alfredo Garcia
03:20 17 Jun 21
Selling my property too Ken was the best thing I did. Although I was skeptical at first I soon found out how... professional he was. Even though my closing contract was not standard because of the pendemic situation. He followed through on time with all the contract terms as promised. Thank you Ken for your professionalism.Alfredo Gread more
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23:27 19 May 21
Ken was referred to us by someone who had sold their home thru Ken last year. From the first meeting to the last... transaction, Ken and his team were professional, efficient, easy to work with, and above all.... caring. Each seller's situation is different, and Ken truly understands that. We were treated with respect each time.Since we were in a time crunch situation, selling our home with a cash offer from Ken was the best decision we could have made. We were perfectly okay with getting slightly less money for our home as compared to selling it via an agent. But if you consider the money saved on agent commissions (both buyers and sellers), closing costs, repair costs, attorney fees, and most important of all... time and headache, you can't beat the option to sell your home with a guaranteed cash offer from a reputable buyer like Ken.My wife and I were very pleased with our experience with Ken. If you are in the market to sell your home fast for a cash offer, I highly recommend giving Ken a call!Best of luck!Vishread more
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14:19 10 Mar 21
Ken and his team were great. They were easy to work with, professional, and responsive. If you are thinking of selling... your home they offer a super easy process.read more
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I am a travel nurse and stayed in a town home for 3 months... It was exactly as described and any issue that came about... was handled within a few hours - I would definitely recommend and I would definitely stay again!read more
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12:41 14 Aug 20
Amazing experience! Ken was upfront, quick and got the deal done in no time. Having done a number of real estate... transactions this was by far the easiest and smoothest. I would unconditionally recommend him to anyone looking for an easy, quick and fair transaction.read more
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19:10 26 Mar 20
Ken is a very professional individual from start to finish. As promised, he gave me a fair deal on my one of my... properties that was in rough shape. He was knowledgeable and responsive to my requests and as promised we didn't need to waste time with inspections and appraisals and we closed quickly. He made it painless as possible by having his crew handle the clean up. This was truly a quick and easy process but a professional individual. Thanks Ken!read more
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