how do you sell your house when there are renters living there?

Asked by sue b, Mammoth Lakes, CA Wed Mar 19, 2014

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13
Team Forss,…, Agent, Temecula, CA
Fri Mar 21, 2014
If possible, I would hold of selling the home until the tenants have moved out. Then have it spruced up and staged. Professional video and photos with extreme marketing will yield you top dollar. We have done this over and over again for our own homes, and also for our clients.
2 votes
Laura Coffey, Agent, Santa Clarita, CA
Wed Mar 19, 2014
You sell the house with them in it. I have sold houses on more than one occasion where you sell to another investor that is happy to take on the new tenants. It's not an issue if you have the right Realtor.
1 vote
Dorene Slavi…, Agent, Torrance, CA
Sat Jul 12, 2014
Having a property with tenants is actually good. Some buyers are looking only for that type of property. If you can provide the rent information and a basic layout of the property that will help the buyer determine if it is a good purchase or not.
I would consider advertising this in Los Angeles or San Francisco for the best pool of buyers.
0 votes
Kevin and Ju…, Agent, Wildomar, CA
Fri Mar 21, 2014
The best advice is to openly communicate your intentions with your tenants. Are they interested in purchasing the place? If they have an interest, have them get pre-approved. We can help if you'd like -

Kevin McLaughlin, Broker Owner
Berkshire West Realty
info@BWestRealty.com
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0 votes
Ray Wright, Agent, Riverside, CA
Thu Mar 20, 2014
First, you need to contact a good Realtor. Let me know if you don't have one. I used to live up there and I worked at the Whiskey Creek. I now work with a great Realtor in that area. I've worked with several thousand repos over the past few years and have worked evictions on several hundred of those homes. So when I had a seller contact me to sell his tenant occupied home, I knew exactly what to do no matter what the tenant's response was. My last tenant occupied property went fairly smoothly. The tenant's lease was not up yet so i suggested the seller offer the tenant "Cash-for-Keys" to move out in 30 days and leave the home clean. It worked out great for the tenant and the seller. Let me know if you have more detailed questions or if you'd like to get with my Realtor/partner. My number is: 951-888-0865 and my email is RayWright@kw.com
0 votes
Jory Blake, Agent, Norco, CA
Thu Mar 20, 2014
It is best to understand California Landlord/Tenant law. There are provisions in place to handle these types of matters. Please refer to the proper process, It is not complicated when everyone is civil.
As stated below, there are some buyers who will assume the tenant (Good or Bad) and even handle the eviction if needed, but this should be a last resort.

I'm happy to facilitate everything on your behalf if needed.

Jory Blake
951.742.3751
Web Reference:  http://www.JoryBlake.com
0 votes
Diana & Rich…, Agent, Paradise, CA
Thu Mar 20, 2014
Selling your house with renters has it challenges but not overwhelming. Communication with your renters is paramount. Assure them that they will have 48 hours notice for a showing. Assure them of their 60 days to vacate (if that is your goal). Often, if you offer a bonus at exit time for willingness to show house that is clean and inviting will sweeten the pot. Good luck!
0 votes
, ,
Thu Mar 20, 2014
You just have to work with them. Just send me an email if you have any further questions.

Alex Greer
Loan Officer
NMLS #1056079

http://www.TheMortgageOutlet.com
408-352-5147
AGreer@TheMortgageOutlet.com
0 votes
Jennifer Fiv…, Agent, Red Hook, NY
Wed Mar 19, 2014
There are Pros and Cons to listing a home with renters. You should set up showing instruction with renters, such as how much notice will be given, showing hours etc.

Having renters can cause the house to stay on the market longer because the renters might use every excuse to delay showings,. and with some renters the house won't show well.

If the rent is paid on time an investor might appreciate having renters when the house is purchased.
0 votes
John Juarez, Agent, Fremont, CA
Wed Mar 19, 2014
Good information has been given but let me add that your first move should be to find the Realtor who will represent you in your sale. Your Realtor can advise you about the pros and cons of selling with a renter in place vs. getting the renter out one way or another.
0 votes
Shanna Rogers, Agent, Murrieta, CA
Wed Mar 19, 2014
Hi Sbentley0808,

Hopefully your tenants are cooperative and will let the Realtors show the house. Now, if they have a lease, then the new buyers would have to honor the lease. The best thing is to work with your tenants and be up front with them. It is very possible to sell your property while there are tenants occupying it.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes
Mario Pinedo,…, Agent, Cupertino, CA
Wed Mar 19, 2014
S. Bentley,

The ideal way is to finish the tenancy, clean/update the home and then list the property. That provides you the best control of showing the property and it's condition.

Less attractive alternatives are to ask the tenants to be cooperative with showings. Or, to ask for offers without seeing the inside. Most of the alternatives limit the amount of viewings which limits the excitement and the number and qualify of offers. It is easy to leave money on the table when selling with a tenant in place.

Mario Pinedo, CCIM
Mortgage Banker
CS Financial
http://www.HomeLoans.LA
http://www.HouseLoansLosAngeles.com
http://www.CondoLoansLosAngeles.com
http://www.Facebook.com/HomeLoans.LA
BRE Broker 01118365
NMLS 1029116
Office 424-249-7434
Cell 415-269-6249
mpinedo@csfinancial.com
Twitter @mariopinedo
0 votes
Jim Olive, Agent, Key West, FL
Wed Mar 19, 2014
Bribes are always good. Vacating the property and leaving it vacant during sale is even better, but not every owner can afford to give up that income. Tenants can be a real downer, do everything you can to keep the relationship good and their attitude good, and you will have fewer problems. As a renter, you should remember that the owner has certain rights, regardless of what the lease may or may not say...so be careful with stonewalling or being difficult, because you may give your landlord cause for eviction, and then you're out on the street. Here's a good idea for renters...consider buying the house....at least in my market owning is much cheaper and better than renting. Best of luck...
0 votes
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