Is it okay to rent a property and have it on the market at the same time?

Sure, but make sure your renters know about it. You would expect them to have it cleaned up prior to showing. When renters are in there, it’s customary for someone to give them 24 hours advance notice, unless other arrangements have been made.

We have exactly that arrangement.

You could also give them cheaper rent in exchange for making sure it’s ready for showing.

You can do it (if you can find renters who are willing to go month-to-month and willing to face showings of the house and having to have it ready to show at all times).

Just be aware that it is the rare renter who is willing to do that and will be a good sport about it. Chances are it will lengthen the amount of time your home is on the market.

Houses in our price range are selling extremely slowly. Our renters know that, and knew that it would likely take a long time for it to sell-if ever (God forbid)! And we’re giving them a hefty cut on rent. So I suspect they are very happy with the arrangement. It’s like free money for them. We’re happy because they are immaculate people, and the house will show well.

You can definitely do it. You just need to have a section in the lease that deals with notice being given to your renters when you sell the house and how much time they will have to find a new place to live. This also means you’ll need to basically do the same when selling the house. You need to let your potential buyer know that there is currently a renter living there so they won’t be able to actually move straight into the house when they buy it. I’m not sure how you would work out all of the specifics, but I’ve seen a lot of houses that are both up for rent and sale.

Thanks for info :)

Yes. You have to have in the renters contract that they must allow the property to be shown, and have a clause also stating you can give 30 or 60 days notice to the tenant and they have to leave. Or, they can be there month to month to begin with, but then you still need to give notice, many states the law is 15 days notice in that situation, but that is pretty quick, most sales would take at least a month anyway.

@JLeslie 30 days seems nicer concidering they would be renting under certain circumstances. Plus the house has to go through escrow.

I knew people did it, I just didn’t know if it was legal.

@Pele Yes, of course. I would never give my tenant only 15 days. I have sold two places while they were rented, and never had a problem.

I should have mentioned you can have a regular contract with the tenant and it just survives the sale. Or, in FL it would, might be different in other states. The last place I sold the new owner was an investor and wanted to keep the tenant.

When I was younger I was renting out a place and out of nowhere the landlord said it was for sale and said people had to check it out whenever. I had to change my schedule to suit his potential buyers. There was nothing like that in my lease. I knew that wasn’t kosher.
@JLeslie Thank you. Yes, I didn’t think of the buyer wanted to rent it out.

The last time it was on the market the realitor said it had to be empty. I knew she said that to just make it easier for her. Soon after that she moved and I just moved back in and started to fix the place up. Now it’s time to sell, even though it was worth twice the amount 2 years ago.