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I’ve been getting this same question from a lot of different clients recently, so I wanted to answer it for all of you out there in case you had the same question as well. The question is this: “Can I sell a rental property with the lease still in place? Even if it doesn’t end for another six months or a year?”
The short answer is yes! You actually have a few different options on how to go about it. The first option is selling the home to an investor and having them take over the lease. The investor would assume the lease when buying the property and continue renting the property to the tenant until the lease is over.
The other option you have is to negotiate with the tenant and offer them a credit for releasing you from the lease. You could offer them a month’s worth of rent, or a few thousand dollars. With this option, you don’t have to worry about a buyer or investor having objections to taking over a lease. You can get the tenant out of your property, opening up the sale of your home to many more buyers. It’s definitely an option if you’re considering selling and don’t want to wait for the lease to end in order to sell.
I’m here to help but more importantly, I’m here to get the job done. If you have any questions for me, don’t hesitate to give me a call or send me an email. Talk to you soon!
