How to Sell a Rental Property With Bad Tenants in Missouri
Problem tenants are one of the most common reasons landlords decide to sell. Whether you're dealing with non-payment, property damage, or simply a difficult relationship, this guide explains your options for selling a rental property with bad tenants in Missouri.
Understanding Your Rights as a Landlord in Missouri
Missouri landlord-tenant law gives landlords specific rights when dealing with problem tenants. If a tenant has violated the lease — including non-payment of rent — you have the right to pursue eviction through the courts. However, eviction takes time and money, and doesn't always result in the outcome you want.
Option 1: Evict First, Then Sell
Evicting tenants before selling gives you the ability to sell the property vacant, which is generally easier and may result in a higher price. However, the Missouri eviction process can take 30-90 days or more, especially if the tenant contests the eviction. During this time, you may not be receiving rent while still paying the mortgage and other carrying costs.
Option 2: Sell With Tenants in Place
Selling with tenants in place is possible, particularly to investor buyers who are comfortable taking on the tenant relationship. However, finding a buyer who is willing to deal with problem tenants can be challenging, and the presence of difficult tenants may reduce the price you can achieve.
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Option 3: Sell to a Cash Buyer Who Handles Tenants
Selling to a cash buyer like Midwest Equity Advisors is often the fastest and least stressful option for landlords with problem tenants. We buy tenant-occupied properties as-is and handle the tenant situation after closing. You don't need to evict, negotiate with tenants, or wait for leases to expire.
Protecting Yourself During the Sale
When selling a tenant-occupied property, be sure to comply with Missouri's notice requirements for showing the property. Tenants are generally entitled to reasonable notice before showings. Working with a cash buyer who doesn't require showings can simplify this process significantly.
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