Do you want to sell your house with tenants, but they are just too troublesome?
Are they denying access?
Are they late on payments?
Heck, are they facing eviction?
There’s good news…
No matter what the scenario is, we’ve dealt with it.
So, if you’re thinking “I want to sell my rental property…”
Let’s dig into how to sell your house with tenants.
How To Sell Your House With Tenants In Atlanta
Do you own an investment property in Atlanta that you’d like to sell?
As a landlord, there may come a day when you wish to sell your house.
When other people are living in your house, the selling process can become a bit more complicated.
Selling with tenants can even be risky.
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.
When it comes to selling a rental with tenants, it can be a balancing act of when to sell the rental property.
That said, the tenants have rights, and you want to make sure you aren’t violating those rights.
Below, we discuss common things that arise when you decide to sell your house with tenants in Atlanta.
Tenant’s Rights When A Landlord Sells A Property
What does your lease situation look like?
If you have a month to month lease, ending it shouldn’t be too difficult.
You will need to provide a fair amount of notice to your tenant, typically 30-60 days.
If you are in the midst of a fixed-term lease, things are a bit different.
If you want to sell mid-lease, you’ll either need to sell the property to an investor who will honor the lease, or give your tenant some sort of incentive to move out.
Some leases contain early-termination clauses that would allow you to end the lease early in certain situations.
Remember, the tenant has rights too under the Fair Housing Act, and if you violate those rights, you could find yourself penalized.
Wait Until the Lease Has Expired
Lucky for us as landlords, not every tenant is terrible.
You may have a tenant in good standing in your property.
If this is your situation, selling right away may not be the best option.
The easiest method for you is to wait to sell the property until the lease is up and your tenant has moved out.
But if your tenant has violated any lease terms, you can terminate the lease with proper notice.
Valid reasons for a lease termination include, but are not limited to:
Violating the lease, including:
- Engaging in illegal activities on the property
- Failing to pay rent
- Violating a no-pet clause
- Subleasing if prohibited
- Causing serious property damage
- Being a nuisance to others
- Falsifying information on the rental application
Sell the Property with an Active Lease
This option limits your potential buyers.
You would need to sell to someone who understands that a tenant is living in the property and is OK with that.
You are limiting yourself to investors.
It’s important that the new owner honors the tenant’s lease.
They will have to let the tenant live in the property until the lease is up.
Per Georgia Tenant Laws, the lease and security deposit must get transferred with the property.
And the new owner becomes the new landlord.
A fixed-term lease does not automatically terminate when a property gets sold.
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 in Georgia can become long and arduous.
Most landlords try to avoid dealing with evictions at all costs.
By selling your house with tenants directly to a cash investor…
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.
This means that we will buy your house from you with troublesome tenants in it.
We will handle the eviction process ourselves.
Plus, a direct sale will help you avoid having to list, market, and show the property.
These things would likely cause even more tension between you and your difficult tenants.
Selling A Rental Property Directly To An Investor
There are many reasons why a direct sale is beneficial for people who need to sell their house with tenants in Atlanta.
Investors are happy to take over a property that already has a tenant in place, especially when they are in good standing.
It saves them time and money advertising, marketing, and showing the property.
They won’t have to bother screening tenants or running the background checks because those things have already been done.
Even if there is a difficult tenant living in the home, an experienced investor won’t have trouble pursuing the eviction process if the tenant is in violation.
They have likely had to do it before, and won’t be bothered by the process.
If you want to sell a house with tenants in Atlanta, there are certain ways to go about doing it.
Always make sure you are being fair to your tenants and giving them the proper amount of notice.
Not only is it the law, but it is the right thing to do.