Sell a House to Avoid Evicting Tenants
You might own a single house, the one you live in and claim as your homestead on your tax return. Or, you may own a house as your homestead and, in addition, you many own one or more as rentals. If you are in the business of leasing homes to tenants, one day you could decide to sell a house to avoid evicting tenants.
Unless you’ve had the experience, it’s not easy to appreciate it. Informing people they have to move out of their homes can be very unpleasant, especially when children or elders may be involved. Even though there are legal forms and court proceedings involved, it’s common for landlords to have personal interactions with their tenants during an eviction.
Getting evicted can be traumatic for both landlord and tenant. Without the assistance of a professional property manager, a landlord must often deliver the notice of eviction in person, knowing it’s a traumatic experience for the tenants.
Avoiding moments like these, as well as dealing with the inevitable excuses and delays, move-out messes and property damage, may become a high priority for owners of single-family rental homes. Some people are cut out for owning rental properties and functioning as landlords, and some people are not.
A Landlord’s Alternatives to Eviction
One alternative for a landlord’s obligation to evict tenants is to hire a property manager to take care of renting the house and evicting tenants, whenever necessary. It is a popular solution, because the owner of a rental property has a different relationship with tenants than does the property manager who is simply hired to do a job.
However, if the time has come to give notice of eviction, it’s usually too late to hire a property manager to complete the service of eviction notices. That’s when a landlord might begin to think they need to sell a house instead.
Selling the property is possible, even with tenants living in the house. Any buyer would need to be aware of a pending eviction as a part of the sale transaction. When a house is sold to a new owner during the lease period, the new buyer must honor all the lease terms.
Is It Time to Sell a House to Avoid Evicting Tenants?
Selling the property to a professional property buyer could be the best option for a quick, easy transaction under these unfortunate circumstances. We Pay Fast buys rental houses, with and without tenants living in them.
Give us a call at (405) 521-1807 or email us at [email protected] if you need to sell a house quickly and easily with tenants living in it.