Rental properties can be a great investment, until they aren't. Maybe the tenant stopped paying, the house needs a roof, or you're simply tired of the calls. Here is what to consider before selling a Lake County rental.
Know Your Lease and Florida Landlord-Tenant Law
- A sale doesn't automatically end a lease. In general, a buyer takes the property subject to the existing lease unless the lease or the law says otherwise.
- Month-to-month tenants generally require written notice to end the tenancy. Florida law sets minimum notice periods.
- Security deposits must be handled properly when ownership changes.
- Evictions in Florida go through county court and must follow the statutes. "Self-help" eviction (changing locks, shutting off utilities) is illegal.
If you are unsure, talk to a Florida landlord-tenant attorney or property manager.
Your Options
- Wait for the lease to end, then repair and list the house vacant.
- Sell to another investor with the tenant in place.
- Offer the tenant "cash for keys" to move out voluntarily by a certain date.
- Sell to a cash buyer as-is, tenants and all.
Selling to Us
We buy rentals in any condition: occupied or vacant, with good tenants or problem tenants, with deferred maintenance or code issues. We'll handle the tenant situation after closing, and in most cases we pay all costs and make all repairs post closing. You'll usually get a no-obligation cash offer within 72 hours.
Call (352) 508-7373 or tell us about your rental.
General information, not legal advice.