How to Sell a Rental Property with Tenants in Memphis
Selling a rental property isn’t always simple. Add active tenants into the mix, and it gets even more complex. If you’re ready to sell a rental property in Memphis, you might be wondering how to do it without violating your lease, upsetting tenants, or losing money.
The good news? You’ve got options. Whether you're dealing with inherited tenants or month-to-month renters, the team at Memphis Offer is here to show you how to move forward without unnecessary stress. We buy houses throughout Memphis, even ones with tenants in place.
Here’s what you need to know.
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Can You Sell a Rental Property with Tenants in Memphis?
Yes. Tennessee law allows landlords to sell rental properties with tenants still occupying the home. But there are legal and practical factors you need to follow depending on the lease type.
If your tenant is under a fixed-term lease, the lease transfers to the new owner. The buyer becomes the new landlord and must honor the lease terms. This is common with investor-to-investor sales.
If your tenant is renting month-to-month, you can usually terminate the lease with 30 days’ notice. In this case, you can either wait until the tenant leaves before listing, or sell with the tenant still living in the property.
If you’re weighing your options between listing with an agent or working with an investor, it’s important to compare timelines and costs. Check out our breakdown on the real costs of listing vs. selling your house for cash in Tennessee to see what makes the most sense for your situation.
Three Options for Selling a Tenant-Occupied Property
Here’s how most Memphis landlords handle tenant-occupied sales:
1. Wait for the Lease to Expire
This is the most straightforward option. If your tenant’s lease is almost up, you can wait it out and list the property once it's vacant. You’ll have full control over showings, staging, and repairs.
Downside: You might lose several months of potential sales time, especially if the tenant decides to renew or stay longer.
2. Negotiate a Lease Buyout
If your tenant doesn’t want to leave, offer them cash in exchange for vacating early. This is called “cash for keys.” It’s faster than waiting out a lease and can keep things civil.
Important: Always get a written agreement, and don’t enter the property without proper notice.
3. Sell to an Investor Who Buys with Tenants in Place
The fastest way to offload a rental property in Memphis is to sell to a cash home buyer like Memphis Offer. We buy houses with or without tenants and handle the entire transition. You don’t need to clean, repair, or wait for the lease to end.
Looking for the fastest way to sell a house in Memphis without listing? This direct-sale option lets you skip the market entirely. Learn how it works here.
What Our Customers Are Saying
Check out what these sellers had to say about their experience with Memphis Offer
"Working with Deniz and his team was smooth and honest. He gave us a great price, even spent time praying with us over some things in our lives. I can’t recommend anyone higher!!! I learned a lot from him and continue to learn from him."
Courtney Simpson
Memphis Tennessee
"Deniz and his team was more than helpful throughout everything. He was very honest and I trust worthy throughout the entire process for free. He made the process very simple took care of everything and made it hassle. Free remind me a drink after I would recommend him and his team to anyone."
Danny Blount
Memphis Tennessee
"The team was very supportive throughout the entire process. My experience was in the middle of a very stressful and emotional time and they were even willing to assist me when my ex-husband refused to sign the paperwork. I highly recommend this company for their thoroughness and sensitivity towards my situation and needs."
Cindy Doyle
Memphis Tennessee
Get Your Free Cash Offer Now!
Fill out this form to get your no-obligation all cash offer started!
Get Your Free Offer TODAY!
Fill In This Form To Get Your No-Obligation All Cash Offer Started!
Why Selling to a Cash Buyer Is the Best Move
Here’s why more landlords are choosing to sell to real estate investors:
- Speed: Get a fair all-cash offer within 24 hours.
- No agents: Skip listings, commissions, and back-and-forth.
- As-is condition: No repairs or upgrades needed.
- No evictions: We’ll take over the lease and work directly with your tenant.
- Flexible closing: You pick the timeline that works for you.
When you need to sell your house fast in Memphis, working with experienced buyers like Memphis Offer gives you more control over the process. We’ve bought hundreds of properties from local landlords, vacant and tenant-occupied, and our team knows how to keep things smooth on both sides.
Have code violations or liens on the property? We handle those too. If you’re facing those challenges, read this guide on how to sell a house fast in Memphis with code violations to avoid legal delays.
How Our Process Works
Selling a rental property doesn’t have to drag out for months. Here’s how our home-buying process works:
Step 1: Tell Us About the Property
Fill out our quick form. We just need a few basic details about the home and lease.
Step 2: Get a Fair All-Cash Offer
We’ll evaluate the property and send you a written offer. No listings, no waiting, and no fees.
Step 3: Pick Your Closing Date
You decide when to close. Whether you need to move fast or want a few weeks, we’ll work around your schedule.
Legal Tips for Selling with Tenants in Memphis
Here’s what you need to keep in mind when selling a rental home with tenants:
Understand Your Lease Type
Are your tenants on a month-to-month agreement or a fixed-term lease? Your approach will depend on this. Terminating a lease too early could violate tenant rights and delay your sale.
Provide Proper Notice
Tennessee law requires landlords to give at least 24 hours’ notice before entering the property for showings or inspections. Communicate clearly and respect your tenant’s space.
Keep Documentation
Keep records of all communications, lease agreements, and notices. This protects you in case of disputes or misunderstandings.
Stay Respectful
Tenant cooperation makes everything easier. A friendly approach can go a long way even if you're planning to sell.
What If the Property Needs Repairs?
Many landlords worry that repairs will get in the way of selling. If the home is outdated, damaged, or in rough shape, don’t stress.
You can skip the rehab process altogether when you work with direct buyers. Memphis Offer buys houses in any condition. We’ve purchased rentals with structural issues, outdated kitchens, mold damage, and more.
You don’t need to clean, paint, or fix a thing. Just tell us about the property, and we’ll make you an offer as-is.
What About the Tenant?
If you're selling to Memphis Offer, we make the transition simple. Here's how:
- We communicate directly with the tenant.
- We honor current leases.
- We take over the landlord responsibilities at closing.
- If the tenant plans to leave, we time the sale to fit that exit.
You won’t need to coordinate move-outs or evictions. We handle it all.
Get Your Free Cash Offer Now!
Fill out this form to get your no-obligation all cash offer started!
Get Your Free Offer TODAY!
Fill In This Form To Get Your No-Obligation All Cash Offer Started!
Sell Your House Fast in Memphis Even with Tenants
Selling a rental with tenants doesn’t have to be complicated or time-consuming. Whether your lease is ending soon or you're stuck with a problematic tenant, you still have a solution.
Memphis Offer buys rental properties all over Memphis. We make fast, fair offers with no pressure, no listings, and no delays. If you’re ready to sell your house fast in Memphis, reach out today and get your free cash offer.
We buy houses of all types, in any condition, with or without tenants.