If you’re a homeowner in Oregon 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 predicament. In this blog post, we’ll give you some tips on how to sell your house with tenants in Oregon. 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 might be more interested in buying an already rented home since they don’t have to find new tenants.
- In the right market, it is possible to get more money for a property with renters, as buyers are willing to pay more for income-producing properties.
- It is possible to avoid the hassles of eviction by selling your house with tenants.
The Cons of Selling a House with Tenants
When you sell your property with tenants, you can also find a few shortcomings, including:
- Leasing properties might not appeal to buyers who intend to live in them.
- Having to work around your tenants’ schedules for showings can delay the sale process.
- To make your house more appealing for sale, you may need to invest in repairs or modifications.
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 Oregon’s landlord-tenant laws to understand your rights and responsibilities as a landlord.
Oregon’s Eviction Laws
Unless there is probable cause for eviction, Oregon law prohibits landlords from evicting tenants. Tenants are allowed to stay until the end of their lease term as long as they do not commit any violations.
The landlord must have legal cause to evict a tenant before the tenant’s lease or rental agreement expires. Failure to pay rent is the most common reason for eviction. According to Oregon law, the landlord can evict a tenant for violating a lease or rental agreement or for committing an illegal act on the rental unit’s premises (among other reasons). To evict a tenant for one of these reasons, the first step is to terminate the lease by giving the tenant notice. Eviction notices will differ based on the reasons for eviction.
Failure To Pay Rent
If the tenancy is week-to-week, the landlord should notify the tenant (in writing) that rent has not been paid, and if not paid within 72 hours, the landlord will terminate the tenancy. Landlords cannot give tenants this notice before the fifth day of the rental period, which includes the first day of rent payment.
In the event that the tenant violates the lease or rental agreement, the landlord may give the tenant a 30-day notice to cure the violation. It must specify the violations, indicate that the tenancy will end within 30 days, describe at least one remedy if the violation can be cured, and specify when the tenant must cure the violation. The cure date should be at least 14 days after the notice is delivered. As provided in the notice, the rental agreement will terminate if the tenant fails to cure.
Tenants cannot cure a violation that’s substantially the same as one the landlord has notified them about within the past six months. In this case, the landlord may give a 10-day written notice (but not one that’s earlier than the one stated in the first notice). Different notification periods apply if the tenancy is week-to-week. If the tenant fails to fix the violation or it’s a second violation that cannot be fixed, the landlord can evict them.
It is possible for the landlord to give 24-hour unconditional quit notice to the tenant in certain circumstances. A landlord will use this notice to inform a tenant that the landlord is terminating the tenancy and filing an eviction lawsuit within 24 hours because of the tenant’s behavior. There will be no opportunity for the tenant to correct the bad behavior. A landlord may serve an unconditional quit notice under certain conditions and behaviors outlined in Oregon’s Revised Statutes section 90.396.
The landlord cannot evict a tenant even after winning an eviction lawsuit. This can only be done by a law enforcement officer with a court order.
In some cases, tenants leave personal property behind after being evicted. It is the landlord’s responsibility to store the property in a safe location and to send a written notice to the tenant if this occurs. The tenant should receive this notice informing them of the property they left behind and giving them 30 days to claim it. The landlord may dispose of the property if the tenant doesn’t claim it within 30 days. Additionally, the landlord can charge the tenant for the cost of storing the property.
Is Eviction The Solution?
Eviction is a legal alternative when necessary, but it can also be a messy process. It is always a good idea to give your tenants notice before listing the property. This will allow them to find alternative accommodations and prevent future conflicts.
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.
Best Practices to Sell a House with Tenants
Make sure you work around your tenants’ schedules whenever you show the house. Therefore, you will likely have to schedule a weekend or evening showing. Additionally, ensure that the house is tidy and clean before each showing. Lastly, pet owners should keep their pets out of the house during showings.
Sell My House With Tenants in Oregon Quickly & Hassle-Free
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! Put money in your pocket in as little as 14 days- no hassle, just cash!