Tired Of Being A Landlord?

Dear Phyllis,
I look forward to your questions and answers. My husband and I purchased a La Crescenta duplex more than twenty years ago. He managed the property, but he passed a few years ago. Since my husband’s passing, the tenants in the back unit have caused me a lot of grief. They are consistently late with their rent and got a big dog which clearly violates their lease. Managing tenants is too much for me. I am tired of being a landlord and want to sell.
After talking with my accountant, I will have huge capital gains tax, so selling for the most money is not a priority. I simply no longer wish to be a landlord. The back tenants are very uncooperative. I believe if I list the property, because of COVID they will not let anyone inside. What do you suggest? Gina

Dear Gina,
Being a hands-on landlord is not for everyone. You might consider hiring a property manager so that you no longer need to interact with your tenants. However, if you do decide to sell, there are several ways to approach this:
After hiring a Realtor have them contact the tenant in the front unit. They may be willing and able to purchase your property. Perhaps they have an amiable relationship with the back tenants. They may get them to cooperate with showing, knowing that they will soon be their new landlord.
Your Realtor will prequalify the tenant. They will negotiate on your behalf and complete all the necessary disclosures. They can manage the point-of-sale requirements, such as smoke and carbon monoxide detectors and water heater strapping.
If the tenant is unwilling or unable to purchase, another route would be to list and sell the property with the understanding that the buyer may not have access to the back unit for the appraisal or inspections. Because of COVID, in some instances, appraisers are only conducting drive by appraisals. Of course, if there is no access to the back house, any buyer will expect a sizable discount.
Best of luck to you!