How To Sell A Rental House With Tenants In OK

Selling a rental house is difficult. The process becomes even more complicated if tenants are living in the home. Now, it is possible to find a reason to evict them, but is that right? If you are like most people the thought makes you uncomfortable. That’s why we came up with a list of options. These options will show you how to sell a house with tenants in Oklahoma.


1. Wait Until the Lease Expires


Waiting until the lease expires is the easiest option, but it is also the most time-consuming. If the tenant signed a year lease, but the lease does not expire for another six months that is a long time to wait. It can be difficult to have showings while tenants are living in the house, so you will likely need to wait until they move to list the home.


Not only does this mean waiting, but it also means that you will face an unknown period without rental income. This is probably not the best option if you are in immediate need of cash.


2. Offer the Tenants an Incentive


Offering the tenants an incentive is likely the best way to sell a rental house with tenants. There are a few ways to do this. The first step is to offer the tenants something in trade for allowing buyers to view the home. A great incentive would be a discount on their rent. This is an immediate benefit the tenant receives for allowing showings to disrupt their personal life.


Once, the tenant agrees to allow you to show the home, you will have to offer them an incentive to leave when the home is purchased. Forcing the tenant out of the house before the lease expires could cause hardship. A generous incentive would be paying the down payment for a new rental property or offering them the first month’s rent on a new property.


3. Execute an Early Termination Clause


An early termination clause must be included before the tenant signs the lease. This clause is important to include because it allows the property owner to buy out the tenant. This means that for a set amount of money, you can terminate the lease early.


Once executed, the tenant will have a specific amount of time to leave the property. The execution of an early termination clause could cause some ill-will between the property owner and the tenant, but the process is legal.


4. Find A Direct Buyer


If the tenant refuses to allow you to show the property while they are occupying the rental house, you may need to find a direct buyer. A direct buyer is a corporate entity that purchases homes. These buyers will often purchase a home without looking at it.


This is ideal for anyone attempting to sell a home quickly, especially if the home needs repaired. Unfortunately, rental properties often incur quite a bit of damage. Traditional buyers would want repairs done before they purchase the home. Finding a direct buyer allows you to speed up the transaction.


[Company] buys homes in any condition. We make cash offers on various types of homes, including rental houses. We make it easy for you to sell your rental house in Oklahoma City, Oklahoma. You can reach us at [Phone].