Do you need to sell your house with tenants in the Kansas City Metro Area? The process isn’t always that easy depending on the lease agreement you have in place or the tenants living in the unit.
When selling a house with tenants in Kansas City, you’ll want to make the transition as easy as possible for the tenants. Make them aware of your intentions and what they should expect. If they wish to stay in the home, look for a buyer who will welcome the idea of buying a property with sitting tenants. Find a buyer who will honor the lease and make the transition seamless to the tenant. That said, this is a business transaction. If you’re losing money or need to sell for other reasons, don’t hold on to the property longer than you have to.
Common Questions From Kansas City Landlords
- How do I sell a rental house with tenants paying month to month?
- What happens when I sell a house with tenants in it?
- How do I sell a home with tenants who owe back rent?
Before you decide to sell a tenant-occupied house in Kansas City, make sure you’re familiar with the tenant’s rights. If you’re asking them to vacate the property, make sure you give them the right amount of notice and are operating according to the law. You’ll need to have a termination clause in your lease allowing you to end the lease early. This might seem like a bit of a hassle. But if you act appropriately, according to the law, the process can be done quickly and without much disturbance to anyone involved.
Selling your house directly 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 sell your house directly, you’ll need to find the right buyers who are willing to take on a house with tenants. Surprisingly, there are many investors who will see this as a perk! One less thing they have to do and having an instant income, without any costs for renovating, cleaning, can prove to be very valuable to them.
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 you 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. Consider offering reduced rent in exchange for their time, property maintenance, cleaning, etc. You can also offer reduced rent as an incentive to get them to move out. Or maybe offer to pay the first month’s rent at their new place. Selling this house will most likely be a huge inconvenience to your tenants. So, offering financial or other incentives will help make the transaction easier for them.
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 To Your Tenants
Aside from 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 area house may be right under your nose!
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 will be in your best interest.
Selling your house with tenants in the Kansas City Metro Area 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. Contact Sell It To Bob today! We would love to help you learn more about the options available to you.