For those who have a profitable rental portfolio in Missouri, being a landlord can be a rewarding way to make a living. Owning your own business and helping others is something that many entrepreneurs aim for, and while many landlords experience the benefits of this industry, not all are so lucky. Rental properties can be troublesome for a wide variety of reasons, and if you are wondering how to sell rental property fast, Cash 4 Kansas Homes is here for you. We buy houses and pay fast cash no matter what condition the rental home is in or why you are selling it. Call us at 913-276-0769 today to request a fair cash offer on your property!
Our team of experts specializes in helping Independence landlords get out from under unwanted rental homes, and in today’s post, we will review common reasons landlords choose to sell their properties, the acceptable reasons for evicting tenants in Missouri, and the benefits of selling to a cash buyer. Read on to learn more!
Possible Reasons to Sell a Rental
There are many reasons why a landlord may need to sell a rental property quickly, including:
- To optimize a rental portfolio. As a landlord, your livelihood depends on having a profitable book of rental properties. If you have one or more homes that are not renting for fair market value or you find it difficult to find tenants for, it might be time to sell.
- Taking advantage of market conditions. The real estate market can be incredibly volatile and unpredictable. If your rental property is worth more now than it was when you bought it, you might want to sell fast to strike while the iron is hot.
- Extensive damage. If your property has suffered extensive water, weather, or another type of damage, or if your tenants have vandalized the home, selling the home can alleviate the burden of repairs.
When Can You Evict a Tenant in Missouri?
If you have ever found yourself dealing with difficult tenants, you might have wondered whether or not you had grounds to evict them from the rental. In Missouri, there are a few reasons that allow you to begin the eviction process, including lease violations and failure to pay rent.
Lease Violation
A rental lease is much more than just a piece of paper for landlords and tenants — it is a legally binding contract that specifies the duties and responsibilities of each party. Because of this, the importance of a well-organized and detailed lease agreement cannot be stressed enough. If your tenant has a pet when the lease specifies none are allowed, he or she smokes in the unit when the lease prohibits smoking inside, or violates the lease in any other way, you can request that he or she moves out within 10 days. If your tenant remains in the home beyond the 10 days and you have documentation of the lease violation, you can pursue eviction.
Non-Payment of Rent
One of the most common lease violations that occur is when tenants fail to make their rent payments by the specified due date. This can create a challenging situation for landlords, and many may choose to have some sort of grace period for their tenants or impose late fees to encourage timely payments. Per Missouri law, if your tenant fails to pay rent on time, you are required to serve the tenant with a demand for rent. Once this step is taken, there is no specified waiting period before you may begin the eviction process, but if the rent is paid after the demand and before the eviction is complete, you can no longer pursue eviction.
A tenant can only be evicted upon court order in the state of Missouri, and while it can be tempting to try to handle the process on your own, failure to follow the prescribed legal process can land you in hot water.
Benefits of Selling to a Private Buyer
If you are trying to figure out how to sell a rental property fast, selling it on the traditional open real estate market might not be the best choice. While real estate agents can make the process much easier, the property could sit on the market for months or years and you stand to lose five to seven percent of the selling price to fees and commissions. Selling to a private buyer, like Cash 4 Kansas Homes, allows you a quick home sale, putting fast cash in your pocket so that you can invest in a more profitable rental property. With our innovative buying process, there are no agents, no repairs, and no commissions — just a simple, fast house sale. It just doesn’t get any easier than that!
How to Sell Rental Property Fast in Missouri
Do you have an unprofitable rental property on your hands in Independence, or has the market taken an unexpected turn in your favor? Maybe you are dealing with the unfortunate experience of tenant vandalism or your rental property has been significantly damaged? At Cash 4 Kansas Homes, we buy houses in any condition, allowing you to walk away from burdensome investments. Thanks to more than 50 years of combined experience, our home buying team hasthe industry knowledge to conclude the end-to-end selling process, from our cash offer to closing, in less than 30 days. To get the cash you need to purchase a more desirable investment property, contact us today!
