subject: Sarasota - Tenants Hold House Hostage! [print this page] Trying to sell a house with tenants involved spells trouble...for the seller/landlord that is.
If you're renting, please don't get upset, thinking I have it out for tenants. This is no personal attack.
*I've faced landlords whose greed & disregard leave tenants facing eviction when the bank forecloses on tenants who never knew the landlord wasn't paying his mortgage.
Unfortunately, Sarasota homes for sale face enough challenges in todays turbulent, unpredictable Sarasota real estate market without tenants sabotaging sales attempts.
My experience simply is that houses rarely sell smoothly (or at all) with tenants involved. In fact, I NEVER have successfully sold a house occupied by tenants.
What starts as cooperation (if at all) quickly turns to inconvenience, imposition, frustration, avoidance & (in extreme but not unheard of cases) sabotage.
Right now, I have a short sale listing with tenants living RENT-FREE.
The owner, against his attorneys (and my) recommendations, tried to HELP the tenants, who dont give a damn about the owner or my efforts to sell short this property!
When the owner/landlord no longer could afford the property, he asked me to join him in meeting with the tenants. I was happy to join him. I very much understand the need for cooperation and mutual ground rules.
These tenants offered complete cooperation during the meeting, especially when the landlord told them not to send him monthly rent. You see, same landlord is not paying the mortgage, so he's not expecting the tenant to pay him. Sounds fair, doesn't it? Sounds unusual, doesn't it? When was the last time you heard of a landlord telling the tenant not to send him money when he's not paying the mortgage?
Not typical of a landlord to be upfront like this. Many landlords will squeeze every penny out of the house before the bank takes it back.
On one hand, I completely understand a tenant's unwillingness to help:
1. For tenants, the house is their home.
2. chances are, they don't want to move.
3. They don't want strangers traipsing through the house.
4. They definitely don't want people (including real estate agents) showing up at their front door without an appointment, treating the tenants as if they have no rights.
Okay, I know the feeling. I've rented places with landlords needing to sell mid lease. I've also faced inconsiderate real estate agents who think the world revolves around them.
Selling a house out from under a tenant will not please a tenant. How could it? Unless there's a quick sale, cooperation usually fades to frustration. Remove patience, cooperation & decency and your property will not sellquickly or at all.
Forget trying to "read" people, both landlords and tenants. Each has his/her own agenda.
Some landlords don't care about tenants who arrive home one day to an eviction notice taped to the front door. I've known landlord who have let a house fall into foreclosure, collecting the tenant's rent each month all the way up to the bank repossessing the house and evicting the tenants.
In this case, however, the tenant is exploiting the landlord's consideration, holding the house hostage. This tenant is challenging the landlord to evict him and his family.
Landlord doesn't want to evict a family. He also doesn't have the money to file eviction suit.
What is your experience with tenants and house selling? Perhaps you are (or have been) the tenant and want to share your side.
Sarasota homes for sale rarely sell (at all) with tenants involved. What starts as a fair (equitable) situation with cooperative tenants often turns resentful, regardless of the landlords good intentions. If possible, don't try to sell until the tenant's lease is up and you've followed all state laws to empty the house before trying to sell. I've seen landlords pay tenants to move out before the lease expires just to avoid a tenant holding a house hostage. If you have interest in buying or selling a property in or around Sarasota, call me now.
