What You Should Know About Selling a Property with Tenants in San Antonio

What You Should Know About Selling a Property with Tenants in San Antonio - Texas Home Buyers Group

Are you thinking of selling a property with tenants in San Antonio, TX? Continue reading to learn more about best practices when selling your tenant-occupied home in San Antonio.

If you own a local investment property that isn’t making any money, there are several ways to turn that problem home into cash. Maybe you’re tired of dealing with constant renter turnover or frustrating, disrespectful tenants, but you aren’t quite equipped to deal with the eviction process either.

There are a number of reasons why San Antonio homeowners consider selling a property with tenants, some of which might not reflect their renter’s quality. As you can imagine, it may be difficult to convince your tenant that selling the house is a good idea, so you’ll want to be equipped with best practices and strategies when approaching the subject.

Keep reading to learn more about our top 5 tips for any homeowner who’s thinking about selling their tenant-occupied home. Although it can be challenging, selling your property with renters is possible if you keep these 5 tips in mind.

Find Out if Your Tenant Wants to Buy

Offering your current resident first choice on the home is a good place to start.

For landlords and tenants alike, this is a fantastic solution to a two-way problem. If you’re stuck under a costly investment, you want to sell as quickly as possible, and your tenant doesn’t want to deal with an unexpected move, plus the incurred costs. When it comes time to break the news to your renter, inviting them to make an offer on your home is a great way to initiate the conversation.

Are your tenants happy to call your rental home? Then you may be surprised to learn that they’re eager to buy the house themselves. If financing is a problem and you don’t need the full amount for the property outright, owner financing may be an option until your tenants are able to secure the credit or cash they need for a traditional loan.

Offer an Incentive

If you choose to sell your house with a San Antonio real estate agent, you’ll need the full cooperation of your tenant. By incentivizing your tenant, you will be able to mitigate any tension that could arise as a result of the selling process. 

Remember, this is the place your tenant calls home, so predicting their reaction to this news can be uncertain. Some generous incentives include:

  • paid moving costs
  • first month’s rent in a new apartment
  • adjusted rent for the remainder of the lease

With these offers, your tenant will hopefully help facilitate the sale. You might also assist your tenant in finding a new rental and provide them with an excellent reference if necessary. Selling a home is stressful, and staging your home around a current resident is even more so. You don’t want your tenant to feel like an unwilling participant, and the best way to avoid this is proper compensation.

Here’s an extra tip: hire professional cleaners! If you plan on showing the house with current residents, offer complimentary cleaning services so the dirty work doesn’t fall on your tenants. Extra perks like movie tickets and gift certificates can also go a long way!

Wait Until the Lease Is Up

If you’re serious about selling a property with tenants in San Antonio, it may be in your best interest to wait until the lease is up and your renter has moved.

Coordinating repair work, rearranging homelife around property showings, and staying on top of routine housekeeping are big orders for any tenant. In many cases, landlords face potential backlash from their renters, on top of disruptions in the sales process.

If possible, wait until the lease is up before deciding to sell your home the traditional route. While this might require waiting up to a year before you can list on the market, allowing your tenants to carry out the remainder of their lease is beneficial for both parties.

Terminate the Lease

On the opposite end of the spectrum, landlords have the ability to terminate their tenant’s lease under certain conditions. If your tenant has violated the lease in any way, you can evoke an early termination clause.

As a landlord, this can be tricky. You don’t want to actively seek mistakes in your tenant’s behavior or history, but if they’ve been consistently late on rent or a documented nuisance to neighbors, you may be able to end the lease sooner than planned.

When drafting your rental agreement, make sure to include details on what exactly will merit an early termination of the agreement.

Quick Tip: understand the tenant’s rights. When selling a property with tenants in San Antonio, you’ll need to be aware of the renter’s rights. In most cases, so long as no violation has occurred, the tenant has the privilege of staying put—whether or not your property is sold.

Sell Your Home Directly

If you want to sell a home with tenants in San Antonio, the easiest way is a direct sale to Texas Home Buyers Group.

We will buy your house directly, whether you have tenants or not. Our process will let you get rid of your unwanted investment as quickly as possible while receiving a great price for your home.

hen you sell your house directly to Texas Home Buyers Group, your tenant’s lease stays in place, we begin collecting the rent, and you walk away with cash in hand!

Get started below and fill out our form for a cash offer on your home in just 24 hours. After that, close on your timeline, and we’ll take care of the rest!

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