Being a landlord is a stressful full-time job, let alone being a landlord in Los Angeles. California is well known for its vigorous state laws regarding eviction processes, and general tenant laws which turns some landlords away from the idea of selling their rental properties all together.
Regardless of the laws, selling your Los Angeles rental home, or any rental property in California for that matter is relatively simple.
In this article we’ll be directly comparing Osborne Homes to alternative methods of selling a rental property in Los Angeles to help you find the best path to sell your home.
How Fast Do You Need Out?
As we’ve mentioned, California is a tenant-first-state, meaning that the tenants typically have more leverage than the landlord in most legal situations. The current California law as of 2/14/2023 dictates that a landlord must give a 30 day written notice along with a 30 day verbal notice of eviction.
The eviction process alone might be reason enough to look into alternative methods of selling your rental property.
Should you do the California eviction process?
Should you leave the eviction responsibility to someone else?
The answer to those questions ultimately comes down to your timeline. Can you wait at least 30 days for eviction, and then some for clean up, repairs, and the lengthy process of listing your home on the traditional real estate market?
Step 1: Determine Your Sales Timeline Requirements
The first step piggy backs a little off of the previous section. You have to first identify how quickly you need to sell your Los Angeles rental home. This will give you a general idea of the direction you should take.
After you’ve determined how quickly or much longer you can be a landlord, write down the days/weeks/months or the ultimate “finish” date you want to exit the landlording duties.
Step 2: Evaluate Your Options Around Your Timeline
The next step involves a bit of research but fear not, we’ll give you enough information to be dangerous and make an informed decision.
Let’s take a look at the average sales time by sales strategy from slowest to fastest:
- Traditional Market (45-180 days) + 30 Day Eviction
- For Sale By Owner Mortgage (30-60 days) + 30 Day Eviction
- For Sale By Owner Cash (14-30 days) + 30 Day Eviction
- Osborne Homes (7-14 days)
The clear winner is Osborne Homes for the quickest time to close – but there are also several other benefits that come with a company such as ours.
Benefits Of Selling Your LA Rental To Osborne Homes
When landlords sell their rental properties, they often consider the closing time the most important part of the transaction, but in reality it’s something many don’t consider.
We’ve mentioned this a few times but the time for eviction is painful in California (30 days written & verbal notice). This makes Osborne Homes an excellent choice and here’s why.
With Osborne Homes we deal with the eviction process for you and even with our 30 day notices, we don’t hold you back. After our on-site visit, you’ll receive the same offer as if no tenants currently lived there. Chances are, you’ll close on the property while the tenants still live there, and that’s okay, it’s not your responsibility.
Sell Your Los Angeles, California Rental To Osborne Homes
Are you ready to retire from the landlord life and get back to what you enjoy the most without making continuous sacrifices? If this is you, let’s talk.
Give us a call or text us at (number) or simply fill out the form below!