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How To: Letter to Tenant of Intent to Sell Property – Appleton, WI

Hey, you guys. Carter here with CB Home Solutions. And in this video, I’m going to go over what to say in a letter to  your tenant of the intent to sell the property. So how do you go about doing this? You have a rental property right now that you’re looking to sell. You want to get rid of your rental property and you want to know what to say in a letter to the tenant in order to sell the property.

Okay, so first thing is first. What is your timeline like? Is it something that you’re thinking of happening in the next one to two weeks or is it one to two months from now? That’s the first thing you need to establish, on when do you want to sell your rental property. So, if it’s going to be sooner rather than later, here’s the set thing you need to do.

Just write up a formal letter on formal letterhead. Have your name, your company’s name, et cetera, all your contact information and just let the tenant know that you do have a plan on marketing and selling the property. And if you don’t have any sort of situation established as of right now, like say you don’t know, if you’re going to list it with a real estate agent, you’re going to sell it to a We Buy Houses company, like our own, then you can’t really specify what’s going to happen. But we’ll fast forward a little bit. Say you’re going to sell it to a real estate investment company that’s in the Appleton area like ourselves here at CB Home Solutions. You have a established closing date, everything like that. So now we’ll just say I’m making this video as of August 22nd. Say the close date is September 15th. So in that letter you’re going to state to the tenants as of September 15th we are going to be selling the property at such and such address and you will have new landlords.

All the leases or the current leases on the property will stay in place. They transfer from one owner to the next, so the tenants do not have to worry about things changing per what their lease states. If they’re on a month to month lease, they could get kicked out or be told to relocate. It depends on who you’re selling it to, what We Buy Houses in Appleton company you’d decide to go with. But that’s essentially the basic terms on what your letter to the tenant should state when you’re looking to sell your rental property.

If you want to get a little bit more clear, give the tenant a little bit more information on who you’re selling your rental property to. You can include the next company’s name, their mailing address, and all that sort of information. Maybe a phone number and email address. But what I always like to do is have the new owner, after closing because it’s not officially done until all paperwork, all documents are signed. Have the new owner reach out to all the tenants, call them, email them, whatever it is, introduce themselves as the new owner of such and such rental property. And then they can really take things from there.

It is their job, their duty to introduce themselves to their new tenants and facilitate whatever is going to go on in that regard. So if you have questions, if you have a rental property that you no longer want. You have problem tenants that you’re looking to get rid of and you want a fast cash offer for your Appleton rental, just give us a call or shoot us a email or fill out the form here on this page here at CB Home Solutions. We’d be more than happy to help you buy your rental property as is, no contingencies, nothing like that. And we can close in 14 days or in as little as 14 days. So like I said, my name is Carter. I would be so happy to talk with you if you’re looking to sell an Appleton rental property. Otherwise, enjoy your day guys. I hope you found the video beneficial, informational and have a good one. Thanks so much.

Letter to Tenant of Intent to Sell Property
Video Transcription
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