Looking to sell a house in Killeen with tenants in it? You don’t have to wait for the home to be vacant in order to sell it! iVestHomes is always looking to buy homes, with and without tenants, and we specialise in paying cash.
Plans to sell a home can change quickly. There are times where selling a rental home for liquid assets might make sense, or owning rental properties doesn’t make financial sense anymore. Maybe you inherited a house, or you have a job that requires you to move cities, or states, in a hurry. It could be that you just want to sell your house with tenants quickly because you don’t want to deal with the home or the tenants anymore.
iVestHomes can buy your rental property quickly without the need to remove tenants from the property, and we’ll pay cash for it. Even if you’re not ready to sell, we’ve put together some tips to help provide you with useful information on the process.
How To Sell A House In Killeen With Tenants
Give The Tenants Notice When Possible
If you decide that you want to sell your house, the easiest solution is to get the tenants out. This isn’t always as easy as it sounds. Tenants renting month to month is ideal. All you need to do is give them a 30 day notice to vacate. You also shouldn’t need to give a reason since this is a “no cause” termination. Just make sure to include specific date requirements for their move-out, language about personal possessions, the move-out process, and how you’ll be returning security deposits.
You can begin the eviction process right away if the tenant doesn’t move out by the requested date. Be prepared to do this just in case so you don’t waste any further time. Get brush up on local rental laws so you cover yourself legally, and be careful to not do anything that can come back to bite you.
Know Your Lease Terms
Selling a property with tenants fast can be a little more complicated if the tenants aren’t on a month-to-month lease. Getting a tenant to leave the rental property when they’ve a signed fixed multiple month lease can be a little more tricky.
The first thing you’ll want to do is take a close look at the lease you signed with your tenants. Take a look at the details and dates, and double check exactly how much notice you’re required to give before the tenants need to leave the rental property. You’ll also want to check the tenant rules and requirements to find out if there are any violations. You may have grounds to terminate the lease with notice way more quickly.
This doesn’t mean manufacturing reasons to kick a tenant out. That’s one of those things that can coma back to bite you, and could cost you more than just a few fines and fees. Your tenant might be completely unaware that they’re violating terms. Maybe they failed to pay rent on time for a successive period of time, or they could have broken a no-pet clause or a no-smoking clause. They could have caused property damage, or they may have multiple people living in the rental that you had no idea about.
If you find a violation, submit a notice of violation directly to the tenant, and include information about when they need to leave the property. The tenant may be very surprised by the violation news and it could lead to confrontation. It’s also possible the tenant could deny the violation and just refuse to leave. Be prepared to get legal threats, and to possibly get local authorities involved.
Pay Tenants to Leave
This is a great solution for tenants locked into a long lease. You can consider trying to buy out their lease. The idea is that the landlord and the tenant negotiate a cash for keys deal that give the tenant a reason to move out before the lease.
You can pay the tenant the difference between what they’ve been paying in rent and what they’ll be paying to get into a new place on short notice. Offering to pay the tenant’s security deposit or first month’s rent in a new rental can also be great incentive. If that doesn’t work, you can try offering the tenant cash and see if it’s enough to make them leave before the expiration of the lease.
Remember that the tenant isn’t under any obligation to accept any of these offers. They have an existing binding contract with you in the form of the lease, and if they feel like they want to stay until it ends and they haven’t violated any lease terms, they’re free to do so.
Sell Your House As-Is for Cash
If you live in or around Killeen, and you want to sell your rental property for cash, we can help you avoid a lot of hassle. Selling a rental house, it’s pretty likely that you’ll have to spend some money, deal with angry tenants, haggle over lease terms, and potentially even go to court. Even if you get the tenant out of the house, you may not be able to sell as fast as you like on the open market.
iVestHomes is ready to buy your house! We buy houses as-is, including with tenants. We buy houses regardless of financial situation, condition, or occupancy. Get a fair cash offer for your property, and then handle dealing with the tenants so you don’t have to. We’ll make you a cash offer today, then we’ll close on your terms!