We Buy Houses With Tenants in Columbus
Feb 04, 2020
Are you tired of being a landlord? Now may be the time to sell your rental property. Sometimes landlords think they can’t sell until they find a way to get rid of problem tenants. But that’s not necessarily true. Some companies do buy houses with tenants still in them. Let’s take a look at some of the upsides to selling your property to someone interested in buying a house with tenants still on the lease.
Table of Contents
Pros of Selling as a Landlord
- Repairs can be costly and unexpected. Major repairs like a new furnace, foundation repairs, or a new roof can be a financial burden.
- You have the added expense of buying property and liability insurance in case something happens to the house or to protect you against a lawsuit.
- Tenant management can interfere with your life — answering calls all hours of the night, weekends, and holidays.
- Property taxes keep going up.
- You have to keep records to account for the rental income and expenses. As a result, tax time gets complicated.
- Vacancies create their own set of problems: screening prospective tenants, scheduling showings, managing repairs, and drafting leases.
- Evictions are a waste of time and money all around.
And as you know, the price tag on using a reputable property management company or dealing with long-term nightmare tenants on your own can take its toll on even the most veteran landlords. But even with a management company and all the proper vetting tools to identify tenant red flags and problems, owning a rental house is still a lot of work. So if the stress has you tearing your hair out or you’re just juggling too many investment properties, it may be worth thinking about selling. Instead of waiting months (or years) for the tenant’s lease to expire, consider selling to a professional investor willing to take on even the most difficult tenants.
“Can I sell my rental property with tenants in it?”
Yes! Upward Home Solutions is ready to buy your rental property, even if there are tenants living there. If you don’t want your tenants to know that you are considering selling, we have solutions to that problem. We will be very discreet.
If you have problem tenants, we will still buy the house. Hand off the eviction problem to us. We understand Ohio law and what needs to be done.
You can sell a house to UHS even if the tenants still have a lease.
If a landlord wants to sell before the lease is up, trying to list the property with a real estate agent on the MLS becomes another issue. Unless the lease agreement firmly states it, the homeowner may not be allowed to show the property to potential buyers. This is detrimental to finalizing a sale with most buyers and can hinder the price when negotiating with others. You can start showing the home if the tenant allows and is given proper notice (typically 24 hours). Otherwise, you’ll have to wait for the lease to end. When dealing with problem tenants, this scenario can be unsettling.
Selling to Upward Home Solutions is just a downright better experience. We can often give a CASH offer without even entering the house. If we do need to peek inside, we’ve been here before. We have lots of effective strategies for working with tenants without worrying them.
We Buy Houses with Tenants… Even Problem Tenants
Call Upward Home Solutions at 614-705-0866 for a no-obligation, CASH, offer for your rental property anywhere in Central Ohio. We buy houses with tenants still in them, and we’re willing to pay cash. This means no waiting on inspections or loan approvals. Buying a house with tenants is nothing new for us, and it helps us move forward in our mission of revitalizing central Ohio neighborhoods.
Why Selling The Property To the Tenants Is A Bad Idea
We’ve talked with many landlords who believe that the renter will buy the property from them. While that sounds like a great idea, unfortunately, it almost never works out.
If the tenant needs to get a loan (and nearly all of them will), this can slow down the process. Are you ready for inspections and do you have the patience to wait on loan approvals? If the loan falls through, you’re back at the beginning of the process, except that now you have unhappy tenants.
Some tenants may want to purchase the property and have the necessary funds. Instead of making the deal a simpler process, they decide to capitalize on the landlord’s desperation to sell. They may want unnecessary or extreme incentives, like a lower rent payment until the sale is finalized, or all closing costs. For a landlord that wants to sell before the lease is up, this is an unfortunate probability when dealing with tenants.
That’s why you’ll probably find yourself looking for other buyers. You could put the house on the market, or sell it to cash buyers like us. The reason we buy houses with tenants in them is that we know how difficult it is to find a ready and willing buyer these days. We’ve helped countless landlords in tough situations by providing win-win solutions. Bad tenants are tough. Cash buyers (or direct home buyers), on the other hand, handle ALL closing costs, require no inspections, and pay cash. That means you won’t have to wait on us to talk to the bank about a loan.
Call 614-705-0866 to learn how freaking EASY the process is compared to what you’re used to.
Selling to Companies That Buy Houses With Tenants Still in Them
Selling to cash buyers is just a better solution. The reason we buy houses with tenants is to provide a better alternative for landlords like yourself.
This Is the Time To Sell A Rental Property
For many people, owning a rental property is an investment. Like all investments, knowing when to sell is crucial. You can’t spend the money on a vacation or anything else until you have sold the house. And if you don’t sell at the right time, the property will go down in value. We saw that happen in a major way in 2008.
Nobody knows when the next housing crash will happen, but we do know that it’s a seller’s market right now.
Upward Home Solutions is buying. We have CASH and we can close quickly. We buy houses with tenants and ones that are vacant. If you currently have tenants and don’t want them to know you are considering selling, we have solutions for that situation. Let us deal with the repairs, the tenants, and all the other headaches that come with being a landlord. You can move onward and upward to other investments. It’s time to enjoy your hard-earned money.
Don’t stress over selling a rental property; we buy houses with tenants no matter what condition it’s in! Our friendly team is ready to answer any questions you have. Just give us a call at 614-705-0866!
“I want to sell my house fast.”
You’ve come to the right place. Upward Home Solutions is your local, honest homebuyer. We aren’t realtors. In the end, we are investors, and trust me… we’ve seen it all. From buying a house with tenants to rehabbing close-to-irredeemable homes, we LOVE lifting up neighborhoods with quality renovation projects. And we know how to get things done!
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The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.
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