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Are you looking to Sell Your Rental Property with Tenants?
Selling While You Still Have Tenants Living in Your Rental Property:
Selling your rental property is not the same as selling your place of residence, especially if you still have tenants living in the property. Many of the decisions and steps in the process of selling your property are dependent on if the property is occupied or not. There are both pros and cons to whether the property is inhabited or vacant. In most cases, you are able to sell your rental property without your tenants noticing and with little to no effect on them, other times it may make more sense to have them leave before you sell. This is where you must get in touch with Core Properties St. Louis, because we are the top cash home buyers! WE WILL BUY YOUR RENTAL PROPERTY WITH TENANTS IN IT!
Are you tired of being a Landlord?
We understand that being a landlord can sometimes be tiring. But don't forget that having tenants living in your rental property is a great selling point, because it guarantees stream of income from the get-go to a buyer. Tenants on the other hand may sometimes not be as happy about the house being sold. They're concerned about all the possible disruptions such as appraisals, inspections, and viewings. They are also concerned about the new management and how things might change. As a landlord, if you have a relatively good relationship with your tenants during the transition you'll more likely be able to acquire their cooperation and the transition quite smoothly.
In Missouri, the law states that a landlord must give their tenants written notice of new ownership within 10 days of the sale. However, no one likes to be blindsided, especially when it comes to one's living situation. Depending on the relationship that you have with your tenants, you may consider giving them more notice as well as keeping them in the loop before the sale actually happens. Any and all communication should be in writing as this protects both the landlord and the tenant. So if a showing is occurring your tenants should be made aware through written communication. Learn more about how you can sell your home fast for cash in St. Louis by giving us a call!
What to expect when selling your house with tenants?
If you're selling your property and the tenants are staying, there are a few things both buyer and seller are responsible for:
- The buyer will take over the existing lease but is not allowed to make any changes to it
- All security deposits are moved from the seller's accounts to the buyer's accounts. The tenant still receives their deposit back when they leave minus any damages.
- Notify all tenants, in writing, about the sale of the property
- Tenants must be provided with the new owner's contact info, any details concerning rent or maintenance, and any other important information.
Stop losing money on your Rental Property in St. Louis
If you are losing money on your rental property, then it is time that you sell it to Core Properties, because our process is:
- Stress-free and quick as possible.
- No wait for financing to go through.
- Cash transferred in five days or less.
- Offer and close the sale less than a month.
Sell House with Bad Tenants!
How to deal with bad tenants when selling your rental property in St. Louis?
Take Your Tenants into Consideration: Just like you give your tenants a 24hr warning before entering their home for whatever reason, you should give the same notice when you enter to show the rental property to a prospective buyer. In the notice you should also include your expectations, like, does the tenant need to leave the premises? Out of courtesy, try to limit your showings to work hours so as not to disrupt your tenants too much.
As a landlord, you can also acknowledge your tenant's inconvenience by offering them incentives. You could offer your tenants a temporary cut in their rent or offer to get professional cleaners so you're always show-ready. If your rental property is a single-family home and you're looking to sell you can first approach your tenants. It could be a win-win where you don't have to go through the hassle of putting it on the market and your tenants won't need to find a new place to live.
The good news as a tenant is that your lease agreement is legal and vail until the end date. Just because someone new purchases the property doesn't make your lease agreement void. The new owner cannot force a tenant out, raise the rent, or change any dates or terms on the lease agreement. When the lease agreement is up and it's time to renew, that is a different story. It is now in the hands of the new owner.
If you have bad tenants, then do not worry! We will still buy your house. We will buy your house “as-is”.
HOW DOES IT WORK?
Sell Your House Fast for Cash!
Regardless of the condition, we’ll make a top cash offer for your St. Louis home. This means that you don’t have to waste your money and time on expensive repairs, cleanings, realtor fees, closing costs, house showings, etc.
#1. Discuss your property with us
#2. We will visit your property
#3. We will provide you with a Cash Offer
#4. Close Sale & Receive Cash
Why Should I Sell My Home to Core Properties?
Whether you are dealing with bad tenants or you are tired of being a landlord, know that we are here to buy your rental property for cash! We will buy your rental property "as-is", meaning you don’t have to fix a thing. Core Properties will buy your house “as-is” and pay cash for your home so you don’t have to wait for financing to go through. We can make an offer and close the sale often times in less than a month. With Core Properties, once the deal is closed, you get the cash via wire transfer in five days or less, because everyone could use some cash fast.
Save Money By Selling Your House As-Is. No Repairs, No Cleaning, No Hassle! Avoid Expensive Fees Like Realtor Commissions, Closing Costs, Hidden Fee, Etc. Sell Your Home Quickly And Easily, Receive A Cash Offer And Close In As Little As A Week.
St. Louis City, St. Louis County and St. Charles County!