Owning rental property can prove to be both rewarding and challenging all at the same time, and in some cases “challenging” doesn’t seem to be a strong enough word.
If you have that one property that always seems to be a burden, selling it might be your best option. But what if you have a tenant living there?
Can you still sell the property? Should you still sell it?
Selling a house with bad tenants is often the best decision to make, and if you keep reading, you’ll learn why this is a good choice and exactly how to do it.
Selling A House With Bad Tenants-It Costs You Money
On paper, a person applying to rent your home might look great. The person has a job, decent credit, and no history of evictions. All of these are signs of a good tenant, right?
Well, just because the application looks good doesn’t always mean that this person will be a star tenant. If he or she turns out to be a bad tenant, you might be stuck with him or her for the next year.
You can take a lot of steps to try to prevent this, but no matter what screening proceduresyou use, there is always a chance you’ll end up with a bad tenant living in one of your properties.
Bad tenants can ruin a rental-property business. They cost money. They take up your time. They’re always causing problems. So, what are your options?
You Could Evict Them, But That’s Not Always the Right Path
Evicting a bad tenant is always an option you have; however, there are strict laws you’ll have to follow if you choose this path.
Evicting a tenant also is not free. You’ll have to pay court fees for it.
Eviction is also not instant. You’ll have to wait for your court date, and then you’ll probably have to wait for the time period in which the judge gives the tenant before he or she has to move out.
Selling A House With Tenants In Place
After the eviction, you’ll also probably have a mess to deal with. If you consider this person a bad tenant, just wait until you enter the home after he or she moves out.
You never know what you might find. You might not have to deal with this tenant anymore but you might have to deal with all the problems he or she left for you.
The tenant may have left garbage everywhere. The place might be completely run down and may have damage in every room.
You’d really have a mess on your hands if this is the case, and you might even wish you had handled this differently.
You’ll Face Challenges with Selling If You List the Home
A second option you could consider is selling the house by listing it with a real estate agent.
Now, keep in mind, if you list this home with an agent, the agent will need to show the house to anyone who shows interest in it or schedules a viewing for it.
Will your tenant be accommodating to the agents who show up with prospective buyers? Will the house even be presentable to show? Will these showings help sell the house or will they offer more harm than good?
Selling a house with problem tenants is hard enough so imagine the challenges you might face if you’re trying to get the job done with a bad tenant living there.
It’s also important to know you can’t just evict a tenant prior to listing the home just because you prefer trying to sell a vacant house. There are rules in place that landlords must follow when evicting a person.
The Simple Way for Selling a House with Bad Tenants
As you can see, there are options for handling the situation you’re in but none of these options is really a great one to choose. There is a great one, though, and this option involves selling the house to a company that buys houses for cash.
Selling the house for cash offers benefits, and it makes selling a house easy as pie. It’s easy because it only involves a few different steps:
- Contact a company that buys houses for cash to ask for an offer for your house
- Review the offer and decide if you want to accept it or not
- Close on the deal in approximately one week
It’s really that simple.
Once you close on it, the company that made the purchase will take possession of the house and the tenant. You’ll no longer have to deal with this tenant again. Does that sound good to you right about now?
In case you’re still not convinced that this is the right way to go, here’s a few more interesting facts that may convince you that this is a great solution:
- Companies that pay cash for homes generally buy any home that someone wants to sell
- These companies typically do not even need to view the homes they buy in person
- They buy the homes as-is which means the sellers are not required to make any repairs of any kind
- They close quickly on the deals but will give a seller more time if he or she requests it
How You Can Learn More About Selling Your House for Cash
Are you convinced that selling a house with bad tenants is the way to go? If so, we can help.
We buy all kinds, types, sizes, and shapes of homes, and we pay cash for them. Additionally, we can close on the deal in as little as 7 to 10 days.
Sound good to you? If so, call us today or fill out a simple form to find out how much cash we’ll pay you for your house.