Every investment should include an exit strategy, with the property’s sale planned in advance. Savvy real estate investors know they need to continuously monitor the market and their assets. Sometimes, this requires selling a rental property still occupied by tenants. Given tenant rights and legal considerations, it’s crucial to consult with a highly experienced real estate professional and adhere to legal guidance. Here are some practical tips to help you navigate selling a house with tenants in DFW, Texas.

Tenants Rights

When selling a house with tenants in DFW, Texas, it’s essential to respect tenants’ rights. Educating yourself on the local, state, and federal laws governing the sale of a tenanted property will help ensure a smooth process and avoid complications. Since tenant cooperation can be invaluable during the sale, you want to avoid infringing on their rights and starting the process on the wrong foot.

Notification

Unless it’s a birthday party, most people dislike surprises—especially discovering that their landlord is selling their home. When selling a house with tenants in DFW, Texas, how and when you notify them about the sale is crucial. It’s best to provide written notice, clearly stating your commitment to respecting their rights and working with them to make unit showings convenient. This approach will help ensure their cooperation and keep you compliant with the law.

Renewals

If you’re about to sell a house with tenants and the lease is nearing its end, it might be best to wait until the lease expires. After all, selling an unoccupied rental property is generally much simpler.

Difficult Tenants

Unfortunately, many landlords realize the importance of a thorough tenant application process only after experiencing the challenges a problematic tenant can cause. For instance, difficult tenants can complicate the sale of a house with tenants in Texas. Offering cash can often persuade even the most troublesome tenants to cooperate. “Cash for keys” involves providing a financial incentive to encourage tenants to vacate the property willingly in exchange for cash. 

Ready to sell a house with tenants in Dallas-Fort Worth, Texas? Consider reaching out to the direct buyers at TX Home Buying Pros, who purchase occupied rental properties regardless of the type of tenant you have. If you want to discuss your rental property situation with a seasoned professional investor, TX Home Buying Pros offers consultations with no obligation. We believe that communication is key to success, so we take the time to listen and provide suggestions to help you overcome any challenges. We use cash to buy your house with tenants as-is, saving you money on repairs. Plus, we never charge commissions or closing costs, which means more of your hard-earned profits stay with you. Discover how easy it can be to sell your rental property directly by contacting TX Home Buying Pros at (214) 296-2343.