Being a landlord in Michigan is challenging enough when everything goes smoothly. When you have problem tenants who are not paying rent, damaging your property, or creating disturbances, the experience can be a nightmare. If you are a Michigan landlord who is tired of dealing with difficult tenants, selling your rental property might be the best decision you ever make. Here is what you need to know about selling a tenant-occupied property in Michigan. If you are looking for help with sell rental property with problem tenants in michigan, this guide covers everything you need to know.
The True Cost of Problem Tenants in Michigan
Problem tenants cost Michigan landlords far more than just missed rent payments. There are legal fees for eviction proceedings, which in Michigan can take 30 to 90 days or more. There is property damage that often exceeds the security deposit. There are the hours spent dealing with complaints from neighbors and code enforcement. And there is the emotional stress that affects your health, relationships, and quality of life.
Landlords with properties in Detroit, Flint, Pontiac, and Saginaw often face the most challenging tenant situations due to the economic conditions in these areas. Eviction courts are backlogged, tenant protections can delay the process, and finding quality replacement tenants is not always easy.
Can You Sell a Property with Tenants Still Living There?
Yes, you absolutely can. In Michigan, you can sell a rental property with tenants in place. The new owner takes over the existing lease and becomes the landlord. This is actually a common transaction for investors and cash home buyers. You do not need to evict your tenants before selling, which can save you months of legal battles and court fees.
Why Cash Buyers Are the Best Option for Tenant-Occupied Properties
Traditional buyers are typically not interested in purchasing a property with problem tenants. Banks are reluctant to finance these transactions. But cash buyers like Offer Now Michigan specifically purchase these types of properties. We have the experience and resources to handle tenant situations after closing. Learn more about selling rental property in Michigan on our resource page.
We buy rental properties with tenants in place throughout Michigan, including Center Line, Utica, Harper Woods, and beyond. Whether you have one problem unit or a portfolio of properties you want to unload, we can help. Call 810-425-5961 for a free cash offer on your Michigan rental property today.