Dealing With Renters when Selling Your Home

Dealing with Renters when Selling a Home

Buying a house is an investment, whether you live in it or not; but when you come to selling a home, having renters living in the house can be more challenging than you might like.

The simplest route to take is probably to wait until your lease with the renter expires; but this isn’t always possible. For instance there are some areas in the US where local tenant-landlord regulations state that renters must be given the option to buy a property they have been leasing. Washington DC is one place where this is the case. So if you’re selling a home with renters currently living there, then you need to check this issue first.

If you don’t have to give your renters the option of first refusal, and you are able to wait until the lease expires, there are other potential problems you should be aware of. The most obvious is that there is no guarantee a house will sell immediately it is put on the market, which means you could sit with an empty house for several months. And for a homeowner who has been renting the house out, an empty house means no income. But there’s another problem. While there are some excellent renters, a large number tend to ignore maintenance issues, and so when it comes to selling a home with renters in it you may find it has become rundown. This leads to the problem of having to do repairs while the tenants are still living in your house.

You will also find it more difficult to stage a home with renters.

It can get even worse if renters don’t want to move, because then they can become very hostile, which can put even the most eager buyers off. There are also ways that very reluctant renters can delay sales for as long as a year.

Tips for Dealing with Renters

Clear, honest communication is essential when you’re selling a home and dealing with tenants. Just as renters can become hostile, landlords can seem threatening, even when they don’t intend to be. So you need to explain what’s happening to your renters and reassure them that their privacy won’t be exploited. For instance, make sure they know you will give them ample warning before buyers are invited to view their home. It’s usually best to choose one or more specific days and times that suit them best.

Another excellent ploy is to offer some type of reward to your renters to persuade them to do their best in terms of keeping the house looking good while it is on the market, as well as being pleasant when agents and prospective buyers visit. For example you could offer them 50% off one month’s rent. You could also offer a gift certificate for dinner for two for each month your home with renters is on the market.

A good landlord (which is what you should aim to be) will also be concerned about their renters’ belongings. So suggest they keep valuables safely locked away whenever strangers are in the house.
Ultimately you need to remember that while selling a home with renters in it is challenging, for these people your house is their home. It’s difficult for them too.

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