When a landlord decides to sell a house that is currently being used as a rental property, a person could buy it as a rental property, or he or she could purchase it to live in. If you are considering buying a former rental house to live in, there are several important things you should know before you make an offer on the house to buy it.
Understand that the house might have some issues
Tenants do not own the houses they live in, and because of this, they generally do not provide the same amount of care to their houses as owners of the homes do. This often results in a rental house having issues. The issues a rental house might have could be minor issues, such as surface issues; however, rental homes may also have some deeper issues than this. It is always good to investigate a home thoroughly to find out all the issues prior to making an offer on it.
Avoid seeing the house when the tenants are home
Secondly, if you are considering buying a house that is currently being used as a rental property, you should not schedule visits when the tenants will be home. If the tenant is disgruntled about anything, he or she might overexaggerate problems with the house. If this happens, it could cause you to have negative opinions about the home, even if there really is nothing wrong with it.
Realize that the house might be messy
When landlords sell rental homes that still have tenants living in them, you should realize that the tenants might not take selling the house very seriously. They might not care at all if the house sells, or they might not want the house to sell. In either case, they may not take the time to clean the home before showings, so you should expect to find a rental house messy and dirtier than a house that is being lived in by its owner.
Make sure it is in a good neighborhood
The other important factor to consider is the neighborhood of the rental house. If you want to buy the house to live in it, you will want to make sure that the neighborhood is a nice community that is safe to live in.
Evaluating and knowing these four things can help you protect yourself when buying a house that was formerly used as a rental property. To set up viewings for houses for sale, talk to a real estate agent today.Share