As a homeowner and landlord, even if you have renters, it is your property and you can sell it if you choose. You likewise don’t want to take the chance of losing your renters and being stuck with an uninhabited property while your home is up for sale on the market. Shown below, we talk about typical items that occur when you make a decision to sell your property with tenants in Boston.
The Lease Contract Situation
What does your lease scenario look like? If you have a month to month lease, ending it shouldn’t be too difficult. You’ are going to need to ensure a reasonable amount of notice to your occupant, traditionally 30-60 days. In the event that you are in the midst of a fixed-term lease, things are a little different. If you want to sell mid-lease, you’ll either need to sell the home to an investor who will honor the lease contract, or give your tenant some sort of incentive to move out. Some lease contracts include early-termination clauses that would permit you to end the lease earlier in specific cases. Don’t forget, the tenant has rights too under the fair housing act, and if you break those rights, you could find yourself penalized.
If You Have Troublesome Tenants
If your tenant has broken their lease, you should be in a position to evict them without an issue. That said, if your renter is refusing to leave, the removal procedure can become extensive and arduous. Many property owners make an attempt to avoid dealing with evictions at all costs. By selling your home with occupants directly, you’ll be able to avoid the eviction process yourself and be able to move on from the residential property with funds in hand. Many direct home buyers will just simply take over the lease and business will go on as usual. If the renters are in violation of the lease contract, the buyer will go through the eviction process as needed. In addition, a direct sale will help you avoid having to list, market, and show the home, things would quite likely cause even more stress amongst you and your problematic tenants.
Selling Directly To An Investor
There are numerous reasons why a direct sale is advantageous for folks who really need to sell their home with tenants in Boston. Real estate investors like Fast Home Sales are more than happy to take over a home that already has a renter in place, particularly when they are in good standing. It saves them time and cash advertising, promoting, marketing, and presenting the property to prospective buyers. They would not have to worry about screening tenants or conducting the background checkups because those items have actually been performed. Even if there is a problematic tenant living in the property, an experienced real estate investor won’t have trouble pursuing the eviction process if the renter is in violation. They have likely had to do it before, and won’t be bothered by the process.
If you would like to sell a house with renters in Boston, of course, there are certain steps to go about doing it. You must make sure you are being truly fair to your tenants, and delivering the proper amount of notification. Not only is it the law, but it is the most appropriate thing to do.
