Selling A House With Tenants In Colorado

1. SELLING WITH SELLING WITH TENANTS TENANTS IN COLORADO IN COLORADO REVIEW THE LEASE Fixed-Term Lease: the new owner must honor the lease unless the tenant agrees to move. Month-to-Month Lease: The landlord or buyer can terminate REVIEW CO LAWS Ensure compliance with the Colorado Residential Lease Act, which protects tenants from abrupt changes during a property sale. NOTIFY THE TENANTS Provide a formal written notice to tenants about your intent to sell. Include: Information about potential showings. An estimated timeline. Any changes to property management. NEGOTIATE WITH TENANTS You may need to offer incentives (e.g., “cash for keys”) to tenants for early lease termination. PREPARE THE HOME Offer tenants incentives, such as rent reductions, in exchange for cooperation during showings or inspections. SHOW THE PROPERTY Provide proper notice before entering the property, per Colorado law (typically 24 hours). Respect tenant privacy and work around their schedule to minimize disruptions. NEGOTIATE THE SALE Discuss with potential buyers whether the tenants will stay or vacate. For properties with existing leases, include the lease terms in the purchase agreement. CLOSE THE SALE Notify tenants of the closing date and introduce the new owner if the property is being sold with tenants in place. Transfer security deposits and any lease agreements to the new owner. www.HBRColorado.com