Updated over 7 years ago on . Most recent reply
Selling a condo, with tenants. ?!
I have a condo I have been renting for 3 years. I rented it because I couldn’t sell it 3 years ago. Currently other units in the development are selling.
The property negative cash flows about .
-1300 a year, but better than - the entire mortgage a year. Nonetheless, I have awesome tenants.
How would y’all suggest I move forward if I want to sell the unit, but also not lose the tenants in the mean time. The tenant’s lease renews in May 2019.
Thanks in advance.
Most Popular Reply
@Michael L Sakey I think you are over thinking this. I would ask them to cooperate and maybe offer an incentive for them to do so, but at the end of the day I am sure your lease says that they have to cooperate. I would have a conversation with them about it to make sure they are on the same page though. They are not able to leave until the lease is up and the buyer would have to honor the lease. So make sure the listing agent knows when the lease expires. -1300 is NOT an investment you want to keep unless the appreciation is insane.