Maximum homeowners with big houses wish to keep tenants for a passive income. Although, the dream of having cooperative tenants who timely pay rent hardly exists, in most cases it is non-existent.
In such situations, you tend to feel helpless and are likely to seeking help with the home selling process. If you are one of them who are stuck in a rut, then you can learn how to sell a house with bad tenants.
Difficulties That Occur While Dealing With Tenants
Troublesome is the word; tenants are known to be the problem creators of the tiniest issues. There are multiple reasons that landlords are forced to evict tenants or drag them to the court. Reasons like property damages, inopportune rent/bill payers, pet owners, whiners, etc. These are some of the difficulties that occur while dealing with bad tenants. Here, you have to make sure that you screen your tenants thoroughly before letting them in.
1) Issues That Landlords Face While Deciding To Sell House Fast
Every issue has a specific outcome. Selling a house that has a bad reputation is impossible, nobody invests in a property which is low in standards. While you are planning to sell your house fast, there are obstacles which influence the home sale. Issues like high turnover rates, late rent payments, legal troubles, constant evictions, and disruptive tenants make it much more challenging. Other secondary things like pest problems, broken appliances, roofing issues are some of the improvement issues that a landlord faces.
2) Is It Possible To Sell My House With Sitting Tenants?
Nothing stops you, you can still sell your house fast and list your property in the market. The only struggle will be to spot potential buyers. You’ll have to try hard to collect interested buyers and tell them about the complete tenant situation. If you are still struggling to get access to the property then you are left with two options which are –
- Look for a clause in the agreement that allows access under specific circumstances, where one can legally access property by giving 24 hours of notice.
- Option two, offer one-off reduction to the tenants
2.1) Consider Eviction
If your tenant is violating clauses from the agreement you can take legal actions. It is highly advised to not to lose your calm as it will make things worse. If situations still slip out of your hand then eviction is the only option left. You’ll have to approach a legal upper-hand and go through the legal processes. You can contact we buy houses New York companies and get things done. The company will buy your house for cash and also take care of the tenants as well.
Companies like ‘Elite Properties’ will provide you with a fair, all-cash offer. You can sell your house within 3 days in any condition and still get a profitable deal.
2.2) Know Your Landlord Rights
The most important thing you would want to note down is the decision of selling the property is not affected by any means. If you have a tenant that has Assured Shorthold Tenancy Agreement then it gives them the right to stay until the contract expires.
If you have signed an open-ended agreement that has no expiry date then start looking for a break clause that permits you to lay off the tenancy agreement. Lastly, if you are uncertain about the situation then consult a solicitor.
3) Sell My House Fast
Many people get stuck while selling their house, why? People have a misconception that if they sell their house fast, will they receive the cash? The answer is yes. Selling your house to companies that buy houses for cash will provide you with fair deals additionally, they buy your house as is. If your situation is desperate and the tenants are not willing to move out, this is an ideal option for you.
You can also sell your house as is with or without tenants, get in touch with we buy rental properties company like Elite Properties. They buy houses for cash and take care of the rest of the procedures like sending notices to tenants, preparing documents, etc. Selling your home to a ‘we buy houses for cash’ company will make the home selling process quick and keep you away from all the legal hassles as well.
Before You Dive In To Sell Your House with Bad Tenants
We hope you consider the given conducts and try to take each step with utter precaution. In the blog above we have mentioned how to deal with bad tenants and make a faster sale. Furthermore, you can contact ‘Elite Properties’ at New York and get all your real estate issues sorted before you end up in a mess.