Brian Hatkoff

Hatkoff Real Estate Investments | Chatsworth, CA

  • Home
  • About Us
    • homesbybrianh
    • hatkoffinvestments
    • Privacy Policy
  • Blog
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
  • Testimonials
  • Contact Us

Trying to Sell a Home with Tenants Still Living Inside? These 3 Tips Will Make Your Life Easier

January 9, 2015 by Brian Hatkoff

Trying to Sell a Home with Tenants Still Living Inside? These 3 Tips Will Make Your Life EasierAre you thinking about selling a home that you have rented out for some additional revenue? If so, you’re likely trying to discern how to best inform the current tenants and conduct the sales process in a way that works well for all of the parties involved. In today’s blog post we’ll explore how to sell your home while you’re renting it out to tenants and share three tips that can make the process a bit easier.

#1: Review Local Laws and Your Tenancy Agreement

First, you’ll want to break out your tenancy agreement and download any state, provincial or municipal laws that apply to landlord-tenant relations. Selling a home with renters living in it can result in a number of sticky situations. You’ll want to ensure that you conduct yourself in accordance with the rule of law as you may end up in court if the process goes sour.

#2: Communication is a Vital Part of the Process

Next, you’ll need to ensure that you’re communicating with your tenants every step of the way. Meet with them to let them know that you would like to place the home on the market, and explain how the sales process is going to work. Allow your tenants to ask questions and to state their case as they may be willing to buy the home from you if they can afford it, or if the price is right. Be polite but firm; you don’t want to encourage any hostility but this is your property and ultimately, your decision.

Don’t forget to fully inform your tenants as to how home showings will work, as they’ll likely be concerned as to who is being provided with keys to their home.

#3: Incentives Can Sway an Unruly Tenant

Finally, if you’re faced with some unruly tenants that are making the sales process challenging you may find that financial incentives make them back off a bit. You’ll need their cooperation in keeping the home relatively clean and tidy, so you may want to consider offering some gift certificates or paying a portion of the rent in exchange for their help. If you’re hosting an open house over a weekend, offer to put their family up in a nice hotel somewhere in town where they can enjoy a weekend together.

While selling a home with tenants living inside is rarely easy or fun, it’s certainly doable. When you’re ready to learn more about the home selling process, contact your local real estate agent as they can share their expertise and guidance to ensure you get the most from your sale.

Filed Under: Real Estate Tips Tagged With: Around The Home, Homeowner Tips, Real Estate Tips

Brian Hatkoff

Brian J. Hatkoff
CCIM, CRS

Hatkoff Investments
Professional, Experienced, Reliable

Give Me a Call! 818.701.7789

BRE # 00644374

Want Us to Contact You?

  • This field is for validation purposes and should be left unchanged.

Connect with Me

Categories

Recent Articles

  • Getting A Mortgage When Self-Employed: What You Need To Know
  • What’s Ahead For Mortgage Rates This Week – February 6, 2023
  • 3 Reasons Why Buying an Investment Property Is the Best Way to Build Your Net Worth
  • S&P Case-Shiller Home Price Indices: Home Prices Fall In November
  • How to Run a Quick Financial Health Check Before You Apply for a Mortgage

Resources

  • Buyer Info
  • Featured Homes
  • Property Search

Our Location

Hatkoff Investments

19836 Mayall St.
Chatsworth, CA 91311
Office: 818-701-7789
Mobile: 818-701-7789

Copyright © 2023 · Powered by MySMARTblog