If you have tenants living in your house in Idaho but are looking to sell it, you may be wondering how the process works. Tenant-occupied houses can be more challenging to sell than those without tenants, but it is possible. This blog post will explain the process of selling a house with tenants in Idaho and what you can expect.
The Pros of Selling a House with Tenants
There are a few benefits to selling a house with tenants:
- Potential buyers won’t have to worry about finding new tenants when a home is already rented out, making it a more attractive offer.
- You may be able to sell a property with renters for more if you sell it at the right time since purchasers are willing to pay more for an income-producing property.
- By selling your home with tenants, you can avoid the hassle and fuss of evicting your current tenants.
The Cons of Selling a House with Tenants
There are, however, a few disadvantages to selling your property with tenants, including:
- A tenanted property might not be attractive to some buyers who wish to live in the home.
- Working around your tenants’ schedules may delay the sale process.
- In order to make the house more attractive, you may have to invest in repairs or modifications.
How to Determine If You Can Sell a House with Tenants
In order to determine your tenants’ rights before selling your house with tenants, you should review your lease agreement. It is important to comply with the tenant’s lease terms when selling the property, so if there is time stipulated, you must wait for the term to end.
As a landlord, it’s also important to review Idaho’s landlord-tenant laws to be aware of your rights and obligations.
Idaho’s Eviction Laws
A landlord must have legal cause to evict a tenant. Legal cause, according to Idaho statutes, includes failure to pay rent, violating the lease or rental agreement, or seriously damaging the rental property. The landlord must terminate the tenancy before evicting the tenant for one of these reasons. This is done by giving the tenant a written notice. The only exception where no written notice is required is when the tenant is involved in illegal drug use while on the rental property.
How to Sell a House with Tenants
When it comes to selling a house with tenants, you have a couple of options. Sell the house yourself, hire an agent, or sell it for cash.
Sell It Yourself
First, you can sell the property on your own. A For Sale sign, flyers, or an online advertisement can all be used to advertise your home.
If you are comfortable handling a home sale’s marketing, negotiation, and closing, this option may be convenient for you. You’ll also save money since you won’t have to pay real estate commissions or fees.
Hire an Agent
Using a real estate agent means you don’t have to worry about paperwork or anything else. However, the process of selling a home usually involves an agent closing fee, and it may also take many months for the sale to be complete.
Sell It for Cash
Cash home buyers are another option for selling your house. Choosing this option is a great solution if you want to sell your home fast and do not want to deal with showings or negotiations. Cash home buyers will offer you an as-is price for your house. In other words, you won’t need to make any repairs or renovations to sell your home.
What to Do Before Listing a House for Sale with Tenants
Before listing a house for sale with tenants in Idaho, there are a couple of things you need to keep in mind:
- Check your lease agreement to make sure there are no restrictions on property sales.
- Any showings or open houses should be notified in advance to your tenants.
- Make any repairs necessary before potential buyers come to take a look at the house.
Tips to Show a House with Tenants
When showing your house, you’ll have to accommodate the tenants’ schedules. As a result, it’s likely you’ll need to schedule a showing during the evening or over the weekend. A clean and tidy house is also essential before each showing. Pet owners should also make arrangements to keep their pets out of the house during showings.
Sell My House With Tenants in Idaho
Selling a house with tenants can be a long and complicated process. Avoid the fuss by selling your home to your trusted home buyer company in Idaho! At Favor Home Solutions, we provide competitive cash offers and work with you every step of the way so you can sell your house quickly and stress-free. When you work with us, you won’t have to worry about paying hidden commissions or making repairs to the house. No hassle, just cash! Call now to get started!