If you’re a homeowner in North Carolina who needs to sell your house with tenants, you should know you’re not alone. Many homeowners find themselves in this complicated and sometimes troublesome position. In this blog post, we’ll give you some tips on how to sell your house with tenants in North Carolina. Keep reading for more information.
The Pros of Selling a House with Tenants
There are a few positives to selling a house with tenants:
- Buyers may be more interested in buying an already rented home since they don’t have to find new tenants.
- In the right market, you may be able to get more money for a property with renters, as buyers are willing to pay more for income-producing properties.
You can avoid the headaches of eviction by selling your house with tenants.
The Cons of Selling a House with Tenants
When you sell your property with tenants, there can also be a few shortcomings, including:
- Buyers who intend to live in leased properties might find them unattractive.
- Having to work around your tenants’ schedules to get things done can delay the sale process.
- You may need to invest in repairs or modifications to make your house more attractive for sale.
Determine If You Can Sell a House with Tenants
Review your lease agreement before selling your house with tenants to identify your tenants’ rights. You should also review North Carolina’s landlord-tenant laws to understand your rights and responsibilities as a landlord.
North Carolina’s Eviction Laws
North Carolina landlords can evict tenants for the following reasons:
Failure To Pay Rent
In North Carolina, rent is considered late a day after it is due. An eviction action can only be initiated by a landlord after ten days notice is given to the tenant. A late fee can also be charged to tenants who fail to pay their rent on time. However, a late fee can only be charged if the tenant hasn’t paid the rent for five days.
Tenants who do not vacate the rental premises by the end of their notice period may be evicted by their landlord.
Tenant Remaining On Premises After Lease Termination
Any violation of the lease terms by the tenant can lead to the tenant’s eviction. The landlord does not have to notify the tenant about the breach in any way. Moreover, North Carolina law does not require landlords to give tenants time to cure violations.
An eviction in North Carolina may result from lease violations such as:
- Rental unit damage
- Smoking in non-smoking areas
- Overcrowded rental unit
- Keeping a pet in a pet-free rental unit or property
Breach Of Lease Terms By The Tenant
When a tenant stays in a property after the end of their written lease (and has not arranged for a renewal), the landlord has the right to evict them. In most cases, the landlord will use this type of notice or eviction to end a tenant’s lease.
A tenant’s notice period depends on the type of tenancy, as detailed below:
- Week-to-week: 2-Day notice
- Month-to-month: 7-Day notice
- Year-to-year: 30-Day notice
Crimes Involving Drugs Or Other Illegal Activity
Landlords are not required to give tenants any notice when they file for eviction if they engage in illegal activity on the premises.
Illegal activities include, but are not limited to:
- Drug trafficking
- Tenant’s involvement in any criminal activity
- Creating, distributing, or consuming controlled substances illegally
How to Sell a House with Tenants
Once you’ve determined that you can proceed with selling a house with tenants you have three ways to go about it. List the house yourself, hire an agent, or sell it for cash.
List It Yourself
Your first option is to sell the property on your own. This option may be suitable for you if you are comfortable handling a home sale’s marketing, negotiation, and closing. Since there are no commissions or fees to pay, you will also save money.
Hire an Agent
The second option involves hiring a real estate agent to take care of the sales process, paperwork, negotiations, and everything else. However, selling a home with a real estate agent usually involves paying an agent closing fee once the house is sold. It can also take months to find an interested buyer and for the sales process to complete.
Sell It for Cash
You can sell your house to a home buyer as a third option. If you want to sell your home fast and don’t want to deal with showings or negotiations, this option is perfect for you. Home buyers provide a cash offer and buy your house as-is. This means you won’t need to make any repairs or maintenance to sell your home.
What to Do Before Listing a House for Sale with Tenants
There are a few key things you need to consider before listing a house for sale with tenants in North Carolina:
- Ensure that your lease agreement does not restrict the sale of your property.
- You should notify your tenants in advance about showings or open houses.
- Check the house’s condition before potential buyers come.
Best Practices to Sell a House with Tenants
Be sure to work around your tenants’ schedules whenever you show your home. As a result, you will probably need to schedule a showing for the weekend or at night. Next, prior to each showing, ensure that the house is clean and tidy. Finally, pet owners should keep their pets out of the house while showings are taking place.
Sell My House With Tenants in North Carolina
Tenants can complicate and delay the sale of a house. Selling your house to a home buyer company may be the best way to avoid any potential inconveniences. At Favor Home Solutions, we offer fair cash offers and work with you through every step of the process so that you can sell your home quickly and easily. Forget about paying commissions or worrying about repairs- we buy your house as-is!