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Updated almost 7 years ago,

User Stats

7
Posts
0
Votes
Mikaela C.
  • Investor
  • Boise, ID
0
Votes |
7
Posts

Selling a property that currently has a tenant

Mikaela C.
  • Investor
  • Boise, ID
Posted

I'm going to be selling a rental property, but I currently have a tenant. He signed a 6 month lease that ends Sept 30th of this year (2018). He hasn't been a total pain (he takes very good care of the property), however his original 1-year lease ended in January. He then did month-to-month from Feb-March. I'm not entirely sure he will stay til the end of this new 6-month lease.

I have only recently started talking to my real estate agent, and she has indicated that the best time to sell in my city's market may be sooner than the end of my tenant's lease. I'm not 100% decided on selling before he leaves, but I want to explore the option just so I understand it. The tenant's lease (standard lease for my property management company) does not include anything about early termination by owner or what happens if the property is up for sale (other than the tenant needs to be notified 24 hours before the house will be shown to prospective buyers). I don't want to assume either way what it means if there is no clause in the lease for this. My property manager is currently on vacation so I'm posting in this forum to see how others have dealt with this particular issue.

Thanks!

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