Sell Your Rental Property, Tenants and All
At some point the rent stops covering the aggravation. Late payments, midnight calls, turnovers that eat a year of profit -- selling the portfolio, or just the worst house in it, is a legitimate business decision, not a failure.
You did not sign up to be on call for a water heater at eleven at night. When the returns stop justifying the aggravation, selling the property with the tenancy intact is usually faster and cleaner than emptying it first.
What you are dealing with
Sound familiar?
- Turnover costs that erase the year's cash flow
- Tenants who pay late, or not at all
- Deferred maintenance you have been deferring for years
- Wanting out without evicting anyone first
Questions sellers ask us first
- “Do I have to empty the property first?”
- “Can I sell multiple properties at once?”
- “What about the security deposits and leases?”
What you will need
- • Leases and rent roll
- • Security deposit ledger
- • Deeds and mortgage statements for each property
How it works in Tennessee
The timeline, the law, and your options
- Step 1
Leases run with the property
A sale does not terminate an existing lease in Tennessee; the buyer takes subject to it.
- Step 2
Deposits and notice
Security deposits transfer to the new owner and tenants are notified where to pay rent going forward.
- Step 3
Closing
Rents are prorated and deposits credited at closing, exactly like taxes.
Legal notes
- • In URLTA counties -- which include Tennessee's larger ones -- security deposit handling and notice rules are specific; the closing attorney will handle the transfer correctly.
- • Tenants generally must be given notice of the new owner and payment instructions.
Your options
- • Hire a property manager and keep holding
- • Empty the units, renovate, and list retail
- • Sell occupied, as-is, in one transaction
How we handle it
What selling to us looks like
Keep the tenants in place -- we buy occupied and take over the leases. We buy single houses and small portfolios in one closing, and deposits and prorated rents are simply credited at the closing table.
- We buy occupied, so you do not have to end a tenancy, turn the unit, or lose months to vacancy.
- Deferred maintenance across a portfolio does not need to be caught up before closing.
- Security deposits and prorated rents are handled properly on the settlement statement.
- Single doors or small portfolios, and we can stagger closings if you are unwinding gradually.
Our process
Three steps, no surprises
- 1
Tell us about the house
Call or send the address. We ask about condition, timing, and what is going on -- not for photographs or a clean house.
- 2
We walk the property
We look at it ourselves as a licensed contractor and price the repairs from real numbers instead of a padded guess.
- 3
Written offer, your date
You get a written, no-obligation offer, usually within 24 hours. You pick the closing date; we can close in as little as seven days.
Cash offer vs. listing
Compare the net, not the headline price
| Selling to Unique Construct | Traditional listing | |
|---|---|---|
| Repairs | None — we buy as-is | Seller pays before listing |
| Commissions | None | Typically 5–6% |
| Closing costs | We cover the standard costs | Often seller-paid |
| Showings | One visit from us | Open houses and lockbox |
| Contingencies | No financing, appraisal, or inspection outs | All three |
| Timeline | As little as 7 days | 45–60 days after a contract |
FAQ
Questions sellers ask
- Do I have to evict before selling?
- No. We would rather you did not -- we take the property occupied.
- Can I sell three houses at once?
- Yes. Portfolio closings are straightforward and often better priced.
- My tenants are behind on rent.
- That is our problem after closing, not yours.
- Do I have to tell my tenants before we close?
- You will need to notify them of the change in ownership and transfer the deposit, and we will coordinate the letter with you.
- Can I sell mid-lease?
- Yes. The lease runs with the property in Tennessee -- we take it subject to the existing tenancy.
No obligation
Get a written offer
Tell us what is going on. We will be straight with you about whether selling is actually your best move.
Tired Landlord? Get your offer
No obligation, no fees, no repairs. Tell us about the property and you get a written cash offer within 24 hours of the walkthrough.
Related
Other situations we buy in
Tired landlord by city
Tired Landlord? Call (865) 277-6808 and we will tell you where you stand.
Call (865) 277-6808This page is general information, not legal or financial advice. Every situation is different — call us and we'll walk through yours.