When life changes occur suddenly, many landlords find themselves in the uncomfortable position of needing to sell a property that contains a tenant. Tenants are protected by general laws that cover tenant rights and anything specified in their lease, so you cannot just get rid of a tenant and sell the property without any warning. Here are a few ways that you can convince a tenant to leave the premises if you suddenly have an Irvine home for sale.
Give the Tenant Notice
If your tenant is in a month-to-month lease, it will probably be easy to sell the property. All you have to do is give your tenant the proper notification that you are choosing to terminate the lease.
Sell to Someone Who Will Continue Renting
Finding a potential buyer who wants to rent the property is often a good compromise. As long as the buyer agrees to uphold the old terms of your lease with the tenant, you can sell at any time.
Give the Tenant Incentives for Leaving
Most tenants of houses in Irvine for sale are reasonable, and many are willing to terminate the lease early as long as you offer to cover things like a few months rent and a security deposit for a new home for the tenant.
Be on the Lookout for Problem Tenants
Some tenants may try to scare away prospective buyers, trash the property, or change the locks on the doors. In some cases, you may be able to terminate the lease if a tenant violates the terms of it.
Sell to the Tenant
If your tenant really wants to stay at the property, they may like it enough to consider buying it. You may be able to quickly sell the property if you offer seller financing that allows the tenant to put their rent towards purchasing the property.
You can learn more about ways to sell tenant-occupied property by talking to a real estate agent in Irvine. Contact us at (714) 454-6304 today for more information regarding buying and selling property in Irvine.