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Selling a New Jersey rental with tenants in place
Late rent, repairs, inspections and registrations add up. We buy rental houses and small multi-family buildings as they stand, with tenants and leases in place, so you don't have to empty the building first.
How it works
You don't have to empty the building.
New Jersey's tenant-protection laws generally carry existing tenancies over to a new owner, and a sale alone usually doesn't end a tenancy. We buy with tenants in place and follow those laws, and we don't require you to remove tenants before closing.
- Leases carry over. Existing leases and month-to-month tenancies continue with the new owner.
- Security deposits transfer. Deposits are transferred to the buyer at closing, and tenants are notified as New Jersey law requires.
- As-is. Deferred maintenance, open permits and code issues are part of our price, not your to-do list.
- No showings that disrupt tenants. Usually one walkthrough, scheduled with proper notice to the tenants.
What helps us move faster
Have these handy if you can.
- A copy of each lease, or a list of units, rents and tenants' move-in dates.
- The amount of each security deposit and where it's held.
- Any rental registration, certificate of occupancy or inspection notices from the town.
- Recent utility and property tax bills.
Questions
Common questions
Can I sell my rental with tenants still living there?
Yes. We buy rentals with tenants in place. Existing tenancies generally continue with the new owner.
What happens to the tenants' security deposits?
They're transferred to the buyer at closing, and tenants are notified of the new owner as New Jersey law requires.
Do I need to fix code violations or pass a rental inspection first?
No. We buy as-is and take on those issues as the buyer. Some towns require an inspection or certificate at the time of sale, and we coordinate that.
What if a tenant is behind on rent?
Tell us about it. Unpaid rent and any pending court case affect the details, but they don't stop us from making an offer.
General information only, not legal, tax or financial advice. Every situation is different; please talk with your own attorney or advisor about yours.