Is there a process for breaking a lease early with renter? I want to sell the property and want to get started sooner that later.
@Stanley Drew Just like the tenant cant break their lease, you cannot either unless there are provisions for it already in the lease. Other options are to buy them out (cash for keys) or offer some other incentives. Or you could list it with them in place and do a lease back with the buyer. Talk to them and let them know, maybe they want to move out and if you agree to give them their full deposit back they may just move out.
The lease goes with the property. When is the lease up? Could closing coincide with lease expiration? If you want the tenant to leave you may need to buy out the lease in this situation. You need to have a conversation with the tenant about leaving early. Some of what you can do regarding real estate sales may be limited by local covid related regulations for your state.
Check with your lease contract and State laws but you might consider (1) offering cash of keys and (2) selling the property tenant occupied.
Definitely some good suggestions. Thank you all.