If you’re ready to sell that unwanted rental property, it may be time to start considering your options.
Whether the property is run-down or you just don’t have time to manage it anymore, keep reading to find out what you can do to get rid of it.
Getting Rid of Unwanted Properties
There are a number of things you can do with unwanted rental property to cash out and do some good in the process. You can try selling the property yourself, but you’ll have to make some adjustments in order to be able to sell quickly.
Selling to a Private Owner
This may be the most economical and feasible solution to selling a rental property. Selling to a private owner will allow you to receive the bulk of the profit from the sale and won’t require a mortgage. The Council of Neighbors and Organizations in Colorado Springs is a great resource for real estate questions; check out their website for assistance and research your available properties.
Offer a Reduced Rent
One last solution to unloading your property is to offer a lowered rent or ownership to your current renter. If you’re looking to rent to people in the area, be sure you’re comfortable with that person because you’ll have to put them in contact with neighbors and businesses.
Selling to a Rental Company
While selling directly to the buyer might seem like the most natural option, some property owners are turning to renting to a rental company. By using a rental company you’ll have greater control over the process, a legitimate system for collecting payments, and possibly lower maintenance costs. The best part is you’ll be able to negotiate a good price for the property if you have a good relationship with the rental company. Â To find a rental company near you, you can go to the local government website for your town. For example, the City of Denver website lists many rental companies in the area.
Selling to a Developer
If you have an economically feasible property in a city with significant demand, you might be able to sell it to a developer who would either build a brand new home on the land or upgrade the existing property to meet current building codes. You would make a large profit on the sale of your property, while the developer would manage the property until it is sold.
Another option for getting rid of an unwanted rental property is to sell it to a home builder. Often times, the builder will purchase the property at a fair price and then develop it to meet current market demands by building a brand-new home or condominium.
Contact Zech Buys Houses
If you’re the unlucky owner of unwanted rental property, don’t wait, contact Zech Buys Houses today and see what we can do for you. We buy houses in Colorado Springs, Clorado, in all shapes, sizes, and conditions fast and in cash so you don’t have to go through the struggle of trying to sell an unwanted property in an unforgiving housing market. Call us today to receive your fair, written, no-obligation offer, and you could have money in hand for your rental property in as little as seven days.