1. Assemble the rental sale file
Gather leases, amendments, deposit records, rent information and the contact authorized to arrange access. Describe the property as occupied if it is occupied. Keep tenant personal information secure and supply only what the reviewing professionals actually need.
2. Compare offers with the tenancy stated
Ask whether a proposal assumes existing tenants remain or vacant possession. Those are different transaction assumptions. Obtain qualified advice before promising notices, entry, lease changes or move-out arrangements; a buyer preference does not settle the owner obligations.
3. Agree on the management transition
Have the purchase and closing documents allocate deposits, rent prorations, keys and tenant communications. Identify who handles repairs and emergencies up to possession. Preserve a dated handover record so the management change is more than a key exchange.
Put the agreement ahead of assumptions
Confirm the named buyer, price, deposit, contingencies, assignment terms, seller expenses and possession in writing.
Mortgage payoff, liens, taxes and prorations can reduce proceeds. Title and escrow coordinate their required work; they cannot confirm readiness from a website inquiry.
Compare an as-is market listing and seek independent advice about terms you do not understand.
Prepare the details for this review
- Lease inventory: List lease dates, amendments, and missing documents without tenant identity details.
- Financial snapshot: Separate rent received, arrears, deposits, and recurring property expenses.
- Open maintenance: Record outstanding requests and any scheduled work.
- Authorized access: Identify the contact responsible for lawful notices and agreed walkthroughs.
- Handoff questions: List rent proration, deposits, keys, and management items for counsel and escrow.
Practical guide + printable worksheetOrganize leases, deposits, maintenance, and authorized access before choosing a sale path. An occupied-property review starts with the current tenancy, not an assumption that the house will be vacant.
Open the guide and worksheet →