Rental properties can be financially prosperous, however bad tenants can make the situation a nightmare. It can even complicate the process of selling the property. There are several ways renters can turn off prospective buyers. If you are selling a rental property with unruly tenants in Lexington, KY, we’ll buy it!
Bad tenants make it extremely difficult to sell property. If the residents are messy, this will hurt the overall image of the home. Buyers taking a tour of the place will be turned off by the sight of clutter and will not be able to fully appreciate what the house has to offer. People need to be able to visualize themselves living in the property, but that is not possible if there is stuff scattered throughout. Buyers will be focused on is the current condition the place is in and not be able to see the potential it has. Bad tenants can make your property unappealing and affect your chances of making a sale.
The tenants may also severely damage your property. Just last week, we purchased a house where the previous tenant had put holes in the walls, torn down ceiling fans, and “lost” the front of the oven. To make matters worse, that tenant had only been in the house six months! If there’s any damage to your property from tenants, it can be really costly to repair it. However, if you sell the property to us, we’ll take it as-is, so you don’t have to perform any of those costly repairs yourself.
Unruly tenants can also scare away potential investors. If the tenants are delinquent on rent, this will make your property unattractive as well. Buyers wanting to purchase a property in order to earn a rental income will find your building to be infeasible. People will not want to deal with tenants who continually do not pay their rent on time. The noncompliant renters will have a negative impact on the buyer’s potential rental revenue. It can be incredibly challenging to find someone that is willing to buy a property occupied by problematic tenants.
Bad tenants can turn an investment into a liability. Another way tenants can affect the sale of a property is due to their interactions with neighbors. If they are hostile, the unruly tenants can cause the nearby renters to leave. Their inability to get along well with others can make it hard to keep renters in your other rental units. The difficulty with these types of tenants is that they are not easy to get rid of. Even with the problems they cause, it may require taking them to court in order to evict. Buyers will not want to go through the court system just to eliminate the bothersome renters.
You may want to consider an alternative to the traditional real estate selling process. Do you want to sell a rental property with unruly tenants in Lexington, KY? We’ll buy it! Kentucky Real Estate Buyers offers a simpler solution for those who may have trouble selling their property. We are a local company that purchases real estate in the Lexington area. In addition to purchasing houses, we also buy properties with multiple units such as duplexes and apartment buildings. At Kentucky Real Estate Buyers, we make selling real estate quick and hassle-free. We pay cash, and can make you an offer in as little as 48 hours. We buy properties in their current state and do not require you to make any repairs. We are located in Lexington, KY to proudly serve the greater Lexington, KY area and the surrounding counties, including Bourbon, Madison, Jefferson, Franklin, Scott, Clark, Jessamine, and Woodford. Call us today.