If good tenants live in a building you plan to sell soon, you may not want to evict the tenants before or after you sell your property. You can sell your tenant-occupied building with the right assistance. However, you must employ the services of a real estate agent who specializes in landlord selling solutions. Learn how you can sell your building without losing any of the tenants in it below.
What Are Tenant-Occupied Buildings?
Tenant-occupied buildings are apartments, homes, and other structures that contain paying tenants or renters. Landlords who want to sell their properties may not want to evict their tenants to do so. The tenants not only pay their rent fees on time, but they also keep the landlords' properties clean.
Landlords who can't find investors to purchase their properties without evicting their tenants may not know what to do about their dilemma. A number of states allow tenants to remain in their homes for the duration of their leases. However, the tenants must leave the property at the end of their lease terms if the new landlord chooses not to renew their leases. The new landlord may also choose to evict the tenants in order to rent, resell, or live on the property themselves. In this case, the old and current landlords must provide the tenants time to move out.
If you don't want to evict the tenants from your property before and after you sell it, consult a commercial real estate soon.
What Landlord Selling Solutions Do You Need?
You want to obtain the services of a commercial real estate who specializes in selling tenant-occupied properties. The agents may provide a wide range of landlord selling solutions that meet your needs, such as placing real estate advertisements online. The ads allow you to connect with buyers who want to earn income from your tenant-occupied building.
An agent can also create advertisements that highlight the benefits of purchasing a tenant-occupied property. The ads must contain the number of occupants living in your building. Buyers can use the number of occupants to calculate their yearly income or revenue. If the calculations appeal to buyers, they may want to invest in your property.
An agent may also need a copy of your yearly rental earnings to help attract buyers to your property. If buyers see how much you earn from renting out your property, they may feel more inclined to keep your tenants in place after they purchase your property.
If you need help selling your tenant-occupied property, contact a commercial real estate service.