Cumming, GA · Member since 2016 · 5 posts · 0 votes
I have a great rental property in South Cumming, Georgia that I'd like to sell.
Can I sell it with the tenant in it?
Can I pass the lease agreement on to the buyer?
Do I need to inform the tenant if I want to sell?
Hi @Christopher Daneault. The simple answer is, yes, yes, and yes/up to you if you want to tell the tenant. Ideally you want to inform your tenants if a possible sale.
If your property currently cash flows then it's a simple hand-off to another investor for the right price.
Rents will be prorated, security deposit will transfer to the new owner, all lease agreements will stay in place and will transfer to the new owner, and PM will likely stay in place.
Make sure your property is in good standing and complies with local rental regulations.
I hope this helps. When in doubt find a friendly investor Realtor. I'm sure your local REIA has a few of them.