Sell a House With Tenants or a Rental Property

Ready to Be Done Being a Landlord?

Maybe a tenant stopped paying, or the repair calls keep coming. Maybe you inherited a rental you never planned to manage, or you’re simply ready to cash out and move on. Whatever the reason, being a landlord in California can get complicated.

California has some of the strongest tenant protections in the country. Under the statewide Tenant Protection Act, many rentals are subject to “just cause” eviction rules and limits on yearly rent increases, and a number of cities, including Sacramento, Los Angeles, San Francisco and Oakland, have their own local rules on top of that. In general, selling a property doesn’t cancel a valid lease; the new owner steps into the landlord’s role. All of this can make a traditional sale slower and more stressful.

Your Options When Selling a Tenant-Occupied Home

• Wait for the lease to end and sell the home vacant, if the tenant is leaving on their own.
• Offer a “cash for keys” agreement, where the tenant voluntarily moves out in exchange for payment.
• List it with an agent. If the property is in good condition and your tenants cooperate with showings, an open-market listing may bring a higher price. Christian is a licensed Realtor and can help if that’s the better route for you.
• Sell to a cash buyer with tenants in place. We buy rentals with tenants still living there, so you skip the showings, vacancies and turnover costs.

Landlord-tenant law is detailed and often local, and selling an investment property can raise capital gains or 1031 exchange questions. Please talk with a landlord-tenant attorney and a tax professional before making decisions.

How Selling Your Rental to Aspire Works

1. Call or submit the form. Tell us about the property, the lease terms and the current rent.
2. Get a fair cash offer. We respect your tenants’ notice rights when scheduling a walkthrough and try to keep the visit short and simple.
3. Close on your date. We can close in as little as 7 days, or work around your timing if you’re coordinating with a tax advisor.

Why Landlords Choose Aspire

We buy rentals as-is, whether that means deferred maintenance, dated finishes or tenant wear and tear. You pay no agent commissions, and we cover closing costs. We treat your tenants with respect, which makes the transition easier on everyone. And because Christian is both an investor and a Realtor, he can give you a candid comparison of a cash sale versus a listing, so you can pick what fits your goals.

Rental Property FAQ

Can I sell if my tenant isn’t paying rent?

Often, yes. We can look at buying with the tenant in place. For questions about notices or eviction, please consult a landlord-tenant attorney.

Do my tenants have to move out before closing?

No. We can buy with an existing lease and tenants in place.

What happens to the security deposit?

California law generally requires the deposit to be transferred to the new owner or returned to the tenant when a rental is sold. Your escrow officer and attorney can confirm the details.