You can sell an apartment with a tenant? Guide for owners

Selling an apartment with a tenant is a more common situation than it seems. Many owners wonder if they can sell a rented home, whether the tenant can refuse or whether the buyer must respect the rental contract.

The answer is clear: Yeah, You can sell an apartment with a tenant, but it is important to do it correctly to avoid legal problems and protect both the rights of the owner and the tenant..

In this article we explain the most important aspects that you should take into account before selling a rented home.

Is it legal to sell a rented home?

Yeah. The owner can sell his home even if it is rented. The existence of a lease contract does not prevent the sale of the property.

Now well, The buyer must know that the home is rented and, in most cases, You must respect the current rental contract. This means that the simple fact of selling the home does not allow the tenant to be kicked out or the contract automatically terminated..

That's why, before starting the sale, It is essential to review the rental contract and check aspects such as the duration, the date of signing, the monthly income, the agreed conditions and if there is any waiver of the right of preferential acquisition.

The sale of a rented home is regulated by the Urban lease law, that establishes the rights and obligations of the owner, buyer and tenant during the operation.

What the Urban Leases Law says

The Urban Lease Law, known as LAU, regulates the rights and obligations of owners and tenants in the event of the sale of a rented home.

One of the most important points is that the buyer of a rented home is usually subrogated to the position of the previous owner.. That is to say, You become the new landlord and must respect the conditions of the current rental contract during the corresponding legal period.

This offers protection to the tenant and, at the same time, allows the owner to sell his home as long as he meets the legal requirements.

Owner's rights when selling a rented apartment

The owner retains the right to sell his home, even if it is occupied by a tenant with a valid contract.

Among your main rights are:

• Sell ​​the home at any time.
• Set the price and conditions of the operation.
• Negotiate with interested buyers.
• Formalize the sale before a notary.
• Offer the home to the tenant when appropriate.
• Communicate the sale legally and reliably.

Yes indeed, The owner must respect the rental contract and the rights that the law recognizes to the tenant.

Tenant's rights when the home is sold

The tenant also has a series of rights that must be respected during the sales process..

The most important is the right to continue in the home under the conditions agreed in the contract., as long as the law protects it.

Besides, the tenant may have preferential acquisition right, unless you have expressly waived this right in the rental contract.

Your privacy must also be respected. The rented home is your home, so the owner cannot enter freely or organize visits without his consent.

Tenant's right of first refusal and withdrawal

When a rented home is sold, the tenant may have preferential acquisition right. This right allows you to buy the home under the same conditions as a third party..

This right is divided into two figures:

Right of first refusal: allows the tenant to buy the home before it is sold to someone else, matching the conditions of the offer.

Right of withdrawal: allows the tenant to buy the home after the sale if they were not informed correctly, if essential information was omitted or if the sale was carried out under more favorable conditions than those communicated.

For this reason, It is very important to correctly notify the intention to sell and record all the relevant data of the operation..

How to notify the tenant of the sale of the home

Before selling, The owner must inform the tenant of his intention to transfer the home, indicating the price and essential conditions of the sale.

This communication should include:

• The intention to sell the property.
• The sale price.
• The main conditions of the operation.
• The payment method.
• The planned deadlines.
• Possible charges or relevant expenses.
• The necessary data so that the tenant can decide if they want to buy.

It is best to make this communication through a reliable means., such as burofax or notarial requirement. In this way, The owner may prove both the content of the notification and the date on which it was received..

The tenant has a period of 30 calendar days to exercise your right of first refusal from the notification. Besides, The notification is valid for 180 calendar days, Therefore, the sale must be made within that period and under the conditions communicated..

What if the tenant has waived the right to purchase??

Some rental contracts include a clause by which the tenant renounces the right of preferential acquisition.

If this waiver exists, the owner will not have to offer the home to the tenant before selling it to a third party. However, Yes, you must communicate your intention to sell with the corresponding legal notice..

That's why, before starting any operation, It is advisable to review the lease contract carefully..

Can the buyer kick out the tenant??

In general, no. The buyer cannot kick out the tenant simply because he or she purchased the home..

If the rental contract is current and complies with legal requirements, the new owner must respect it. From the sale, The buyer will take the position of the previous lessor and will have the same rights and obligations.

This means that the tenant will continue to pay rent., but from that moment on it must be done to the new owner.

Tips before selling an apartment with a tenant

Before putting the home on sale, It is advisable to follow these steps:

• Review the rental contract.
• Check the length of the lease.
• Verify if there is a waiver of the right of preferential acquisition.
• Correctly inform the tenant.
• Inform the buyer that the home is rented.
• Prepare all necessary documentation.
• Coordinate visits always respecting the privacy of the tenant.

Good planning will avoid delays, misunderstandings and possible conflicts between the parties.

Conclusion

Selling an apartment with a tenant is totally possible, but it shouldn't be done just any way.

The owner has the right to sell his home, but you must respect the rental contract, the rights of the tenant and the deadlines established by current regulations.

The key is to review the documentation well, communicate the sale correctly and act with transparency from the first moment.

If you are thinking of selling a rented home, The most advisable thing is to previously analyze the contract, the situation of the tenant and the conditions of the operation to sell safely and avoid problems during the process.

Do you want to sell a rented home and don't know where to start??

In Araico Assessors we accompany you throughout the process: We analyze the situation of the property, We review the key aspects of the sale and find the right buyer so you can sell safely, transparency and hassle-free.

Contact us And let's sell with head.