If you’re currently facing a situation where you need to sell your house with tenants, you might be wondering how the process works and what to consider. In this blog, we’ll discuss buyer and seller expectations when selling a house with tenants in Kansas. Additionally, we’ll discuss some factors you should consider when selling a property with tenants. Read on to learn more.
Why Sell a House with Tenants?
While most people wouldn’t consider selling a house with tenants as their first option, sometimes there’s no other way out. The good news is that selling a house with tenants living in it has its pros, including:
- It can make an attractive offer: Potential buyers might find it more attractive to buy houses that are already rented because they don’t have to find new tenants.
- It can allow you to negotiate a higher sales price: Homes with tenants typically have a higher value since they generate income.
- It can be a solution to avoid eviction: Selling a property with tenants could save you from having to evict them.
Factors to Consider When Selling a House with Tenants
Renter-occupied properties can also present some challenges when trying to sell them, including:
- It can extend the process: Tenants can be attractive to some buyers but can disenchant others, making the sales process more challenging and longer.
- It can lead to additional costs & inconveniences: A house that needs a face-lift or is damaged may require repairs to make it more appealing to buyers. You’ll spend more money and have to arrange everything around your tenant’s schedule.
How Do I Know If I Can Sell My House with Tenants?
You should review your lease agreement before selling a house with tenants to ensure that you are complying with tenant rights. When selling the property, the terms of the lease must be followed.
When you don’t have grounds to evict your tenant, you must wait until their lease or rental agreement has expired.
Kansas Eviction Laws
Kansas law requires landlords to have a legal reason to evict tenants before their leases or rental agreements expire. In most cases, evictions occur for non-payment of rent or violation of the rental agreement. It is also possible for a landlord to evict a renter who destroys rental unit property. If a landlord wishes to evict a tenant for one of these reasons, notice must be given to the tenant first.
Late on Rent
Kansas tenants who are behind on their rent receive a pay rent or quit notice, which gives them three days to pay rent or move out.
Term Violation
When tenants violate lease terms, landlords can give them fourteen days to correct the problem or thirty days to vacate. A landlord has the right to evict a tenant who does not resolve the issue within the given timeframe.
Lease Expiration
When a lease’s term approaches, a landlord has the right not to renew the lease and must inform the tenant 30 days before the lease expires. If a tenant stays in the property past the lease termination date, a landlord can file a lawsuit to evict.
Despite being a legal alternative, evictions are messy affairs. It is always a good idea to give your tenants notice before listing the property, regardless of the circumstances. Taking this step will allow them to come up with alternative living arrangements and prevent conflict in the future.
Additionally, you should review Kansas’ landlord-tenant laws to better understand your rights and responsibilities as a landlord.
How Can I Sell a House with Tenants?
Kansas homeowners can sell a house with tenants by themselves, by hiring an agent, or by selling directly to a home buyer.
- List It Yourself: The first alternative is to list the house yourself. If you’re comfortable marketing, negotiating, and closing a home sale, this option might be for you. Advertisements can be made via flyers or For Sale signs, among other methods. You’ll also save money since you won’t have to pay a realtor’s commission.
- Hire a Real Estate Agent: Another way is to hire a real estate agent. This option might be of interest to you if you lack the time or experience to sell the house on your own. There is, however, a closing fee charged by the agent after the sale has been completed. The cost is usually 6% of the sale price.
- Sell to a Home Buyer: As a third option, you can sell your house to a home buyer. The benefit of this method is that a house can be sold quickly without spending more money on it. Additionally, closing costs are covered when you sell to a home buyer, so it’s more cost-effective for you.
Things to Consider Before Listing Your House for Sale with Tenants
It is important to notify tenants in advance if you plan to sell your property while they are still living there. It is also key to provide as much information as possible in an official letter in order to clarify your expectations. Make sure the letter includes the tenant’s name, the address, and the date. Your tenants will be more cooperative if you are upfront with them.
Afterward, the tenant must be informed of what will happen. Your tenant might find it helpful to know when the house will go on the market, when showings are scheduled, or if there are any additional steps they need to take.
How to Prepare the House for Sale
When you are ready to sell your house, you need to take care of two things:
- Communicate With Your Tenant: Discuss selling your rental property with your tenants. Ensure that they know there is no need for them to move out and that you will accommodate their schedules. Make sure they are aware of any potential showings or open houses ahead of time.
- Ensure Your Home is in Order: Assess whether any repairs or upgrades are needed on the home. If you want to sell your house quickly, you need to make sure it looks fantastic.
Sell My House With Tenants Fast in Kansas
Selling a house is not a simple process, much less when tenants are involved. With Favor Home Solutions, your house can be sold for cash without spending a dime more and without worrying about working around your tenant’s schedule to do it. Our team will buy your house as-is within your preferred timeline so you can move forward with your life. No hidden fees or commissions- Just cash! Get started now!
