Sale of rental property

3 Replies

We have decided to sell one of our rental properties. Is there any way we can list it while there are people living there? The lease runs until the end of April.

Does your lease say you can sell it? Ours says we can sell the property with 45 day notice. Usually it's not a problem. Just reassure them you will sell to someone who wants to keep them in there. Especially if they are decent tenants.

The lease does not have anything in it. We never thought we would want to sell but life circumstances change!

And no, they are not great tenants.

You are allowed to list your property for sale. If tenants are not great, they may make life difficult until you sell though. Typically, people wait until the tenant is out so they can clean it up better and command a higher price, but they are sold with tenants in there quite often also.

Your three options are:

1. Sell with tenant, perhaps fighting with them when they are inconvenienced with open houses and showings.

2. Offer tenant some money to leave, since you want to sell.

3. Wait until lease is up to sell, fix up property and maybe get more money for it.

Your decisions will depend on how quickly you want to sell and your relationship with tenant.

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