Sell SFR with tenant in it?

Question

I have a tenant in my SFH but am seriously considering selling it soon. He’s about half way into a 1 year lease and a good renter. His lease is up Jan 1st, in the dead of winter

Do I list now with the tenant in it? I doubt he’ll

be open to showings..he may treat the place worse knowing he can’t stay...or he could want to buy it, but I doubt it...I don’t think an investor willl want it since the #s may not work..

Any advise from anyone who has gone through this ?

Christopher Phillips · Answer

@Sam Bromano

Any buyer of the property would have to honor the lease. So, the tenant would still be able to stay until Jan.

It is harder to sell a property if the tenant is unwilling to show, but you have to first approach the tenant to determine if that's the case or not. First, ask the tenant would they considering purchasing the property. They might want to or they might not want to. They might not be in a position to purchase.

If the tenant isn't looking to buy, then consider selling and discuss with them options about showings. Usually, 24-48 hours is enough warning to keep them satisfied.

Like I mentioned above, the buyer would have to honor the current lease if they purchase the property. If the potential buyer wants the place vacated, then you have to determine if the tenant would be okay with moving earlier or if they would need to stay until the end of their lease.