How do you sell a home with sitting rental tenants?

Asked by Trulia Dallas, Dallas, TX Thu Jan 31, 2013

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T.E. & Naima Sumner’s answer
T.E. & Naima…, Agent, Dallas, TX
Fri Feb 1, 2013
BEST ANSWER
The lease obligates the new owner (it runs with the land). So, selling the home with it rented means the new owner gets the property with tenants in place until their lease expires.

Some tenants will cooperate in allowing showings with proper notice. Typically, an hour's notice is given, but the tenant may need more time to get home and put up pets. Also, if it's too inconvenient or uncompensated, the tenants may object to being dragged home to put things in order or keep them that way.

Explain to them they're not being booted out - their lease will still run its course. Naturally, some tenants will be apprehensive or just won't clean the place up so it can be shown. In some cases the tenants will actually lock out visitors (in Texas the keyless lock does that). You may have to massage their feelings and accept less than spotless or else you can offer to send a maid in once a month to help them clean up.

Once sold, you or the new owner needs to notify the tenants of the new owner (and new manager if there is a change).

Don't forget about transferring the security deposit to the new owner (and letting the tenant know this).
Web Reference:  http://www.SumnerRealty.com
0 votes
Bruce Ericks…, Agent, Dallas, TX
Fri Feb 1, 2013
There are many factors that need to be covered to have a succesful sale with tenants.

Is there a written lease?
Does the lease include a clause allowing you to put a key box of some kind on the home?
When does the lease expire?
How is your relationshipe with the tenants?
Do the tenants have a place to move to when the lease is up?
Are the tenants willing to move early and if so under what condidtions?
How does the home show and how easy will it be to get in to see?
Who is your target buyer, owner occupents or investors?

As you can see from this partial list there is much to discuss. I suggest you find an agent who is experienced with this type of sale and then the both of you come up with a plan that maximizes the highest sale price with the least amount of problems for you.

Good luck with the home sale .. Bruce
1 vote
Andrea Brooks, Agent, Plano, TX
Thu Jan 31, 2013
It can be tough if your tenants don't cooperate. They are entitled to the tenancy guaranteed by their lease and cannot be forced to move if it sells. My best recommendation is to wait until the lease is up.

There are some other options though, so feel free to call me if you'd like to discuss.

Andrea Brooks
469-450-1326
http://www.topagent.co
1 vote
Tim Stoll, Agent, Dallas, TX
Thu Jan 31, 2013
There certainly are obstacles. Much will depend on how cooperative and how clean the tenants keep the home.
Web Reference:  http://thinkdallas.com
0 votes
Dallas Texas, Agent, Dallas, TN
Thu Jan 31, 2013
All is based on terms and conditions for the rental agreement.


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0 votes
Warren Barre…, Agent, Dallas, TX
Thu Jan 31, 2013
Last 30-days of the lease you can put the home up for showings. Or, sell the home and the new owner takes over as landlord. Would have to make some arrangements with the tenants for showings...
0 votes
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