Do you need to sell your house with tenants in the Kansas City metro area? The process isn’t always that easy depending on your lease and tenants in place. Learn more about how to do it in our latest post.
How To Sell Your House With Tenants In Kansas City
Ethically, when selling your house with tenants in Kansas City, you’ll want to make the sale and transition as easy as possible. Let the tenants know of your intentions and what they should expect.
If they wish to stay in the home, look for a buyer who will be interested in the idea of buying a property with tenants. Someone who will honor the lease and make the transition invisible to the tenant.
That said, it is business. If you are losing money or need to sell for other reasons, don’t hold on to the property longer than you have to.
Observing The Tenants Rights
Before you decide to sell your house with tenants in Kansas City, make sure you are familiar with the tenant’s rights. If you are asking them to vacate the property, make sure you are giving them the correct amount of notice and are operating according to the law.
You will need to have a termination clause in your lease allowing you to end the lease early if that is the case, or negotiate an acceptable resolution with the tenant.
Selling your house with tenants in Kansas City can seem difficult. But if you adhere to the legalities and work with the right buyers, the process can be done quickly and without much disturbance to anyone’s lives.
Sell Direct To A Professional Home Buyer
Selling your house direct to a Professional Home Buyer like The Sierra Group Pro Home Buyers will eliminate the need to clean, market, stage, and show the home. All of these can be difficult when there are tenants living in the house.
In order to successfully sell your house direct, you will need to find the right buyers who are willing to take on a house with tenants. In fact, there are many investors who will see this as a perk. One less thing they have to do, and have an instant income, without any costs for renovating, cleaning, and finding a tenant can be very valuable to them.
Offer Incentives To The Tenants
If you plan on listing the house with a Kansas City real estate agent, you will either need to wait until the tenants have moved out or have their cooperation in showing the home.
You don’t want to have a tenant sabotage a showing, whether intentionally or unintentionally, so you will need to make sure they are on your side. To do this, you can consider offering reduced rent in exchange for their time, property maintenance, cleaning, etc. You could also offer reduced rent as an incentive to get them to move out. Or maybe offer to pay the first months rent at their new place.
Selling your house with tenants can be very inconvenient for them. Offering financial or other such incentives can help make the transaction an easier one for them.
Be Respectful Of Your Tenants Situation
Remember, it might be your house, but it is currently your tenants home. They may feel a sense of attachment or worry about being uprooted after living in the home for a long time.
While you may need to sell the house for your own personal reasons, try to be as respectful and accommodating to your tenants as possible. This will make things easier for them and for you as the home seller.
Sell Your House To Your Tenants
Besides you, there aren’t many people who know and love the house the same way you do. If your tenant has been there for a while, they will have likely developed an attachment not only to the house but to the community where they are living.
If the house has truly become their home, they may be interested in buying it outright. Before you spend time and money on the listing process, talk to your tenants to see if there is any interest. The perfect buyer for your Kansas City house may be right under your nose!
Converting your current lease agreement into an agreement that will give your tenants the right to buy the house for a specific amount of time may also give you the ability to increase the rent, to compensate you for giving the tenant that additional benefit. I would recommend working with a real estate attorney for this type of arrangement.
Wait For The Best Time To Sell
If waiting is an option, consider holding off on the sale until the lease is up. Then, let your tenants know that they will need to relocate as you will be putting the house on the market. You can give them a heads up ahead of time, letting them know of your intentions.
Helping with moving or as a reference can help soften the blow, especially with a long-term tenant. If the sale isn’t needed immediately and you want to spend the time and money on a listing, waiting until the house is vacant may be in your best interest.
Selling your house with tenants in Kansas City can be challenging depending on your situation and who your tenants are. However, when you plan ahead, act thoughtfully, and stick to what the law says, it can be done. We would love to help you learn more about the options available to you!
Let us help you sell your house with tenants in Kansas City! Contact us today for more information! (855)-291-5005
7 Days Cash by The Sierra Group, LLC has been buying houses direct from sellers for more than 20 years. Unlike many companies that have popped up in recent years, we are a “real” home buying company, not “wholesalers.”
We are a Veteran owned company with an A+ rating from the Better Business Bureau. We invite you to check us out, and learn why hundreds of other home sellers have made the choice to trust the sale of a house to 7 Days Cash by The Sierra Group.