Yes. You can sell a rental with tenants in place. The lease usually transfers to the new owner, who takes over as landlord. Selling to a cash buyer who keeps the tenants avoids showings, vacancy and repairs.
Tired of being a landlord? You don’t have to wait for the lease to end or the tenants to move out before you sell.
What happens to the lease?
In most cases the existing lease stays in place and transfers to the new owner, who becomes the landlord. The tenants keep their rights under the lease, including their security deposit, which is handed over at closing.
Your two main routes
1. Sell to an investor with tenants in place. The buyer takes over the lease. There are no showings to schedule around the tenants, no vacancy period and usually no repairs. This is what we do at Cash To Close.
2. Wait for the house to be vacant, then list it. You might get a higher price from an owner-occupant, but you’ll likely carry the property empty while you make repairs and wait for a buyer.
Things to gather before you sell
- A copy of each lease
- Rent amounts and payment history
- Security deposit amounts
- Any maintenance issues you know about
What if the tenant is difficult or behind on rent?
That’s common, and it doesn’t stop a sale. Cash buyers who work with rentals regularly can buy the property as-is, tenant situation included.
We buy single-family rentals and multi-family properties across MD, PA and WV. See how selling a rental works.