Sell Your Rental Property With the Tenants Still in It
We buy tenant-occupied houses, two-families, and triple-deckers across Rhode Island as-is for cash. No evictions, no vacancy, no repairs, no commissions. The leases transfer to us at closing and you walk away.
- Tenants Stay
- No Repairs
- No Commissions
- No-Obligation Offer
- Flexible Closing
Can you sell a house with tenants in it in Rhode Island? Yes. A sale does not end a tenant’s lease; the buyer takes the property subject to the existing rental agreements, and Rhode Island law transfers the security-deposit obligations to the new owner at closing. Offer New England buys tenant-occupied single-families, two-families, and triple-deckers across Rhode Island as-is for cash, with no evictions required, no repairs, and no commissions.
Showings, leases, and a buyer pool that mostly wants it empty
Most retail buyers in Rhode Island want a house they can move into, and their lenders want it vacant or owner-occupied. That leaves a listing agent scheduling showings around tenants who have a legal right to two days’ notice and no obligation to keep the unit tidy, while prospective buyers ask when the tenants are leaving. Many landlords end up offering cash-for-keys or waiting out a lease just to get to market, and the mortgage, taxes, and insurance keep running the whole time.
We are the other kind of buyer. Occupied is fine. Month-to-month is fine. Below-market rent is fine. A tenant who has stopped paying is fine. We look at the building, the leases, and the location, and we make one written offer that prices all of it in.
- No evictions. You do not need to clear the units before we buy. The leases transfer to us.
- One respectful walkthrough. We coordinate proper notice with your tenants and visit once, at a time that works for them.
- No turnover costs. Deferred maintenance, old porches, and units that need work are priced into the offer, not fixed by you.
Common reasons Rhode Island landlords sell to us
Multi-family housing is the backbone of Providence, Pawtucket, Woonsocket, Central Falls, and Cranston. These are the situations that bring their owners to us.
Tired of being a landlord
Twenty years of late-night calls, turnover, and city inspections is enough. You want the equity out without spending another season managing the building.
An inherited multi-family
A parent’s triple-decker with long-term tenants, some paying well below market. The heirs live elsewhere and nobody wants to become a landlord. We buy before, during, or after probate; see our inherited-house guide.
A tenant who stopped paying
Rhode Island eviction takes time and money, and the unit is losing rent every month. We buy with the non-paying tenant in place and handle the situation after closing, lawfully and on our dime.
A lease that runs past your timeline
You need to sell this year and the lease runs to next summer. Retail buyers will wait; we will not. The lease transfers to us and the tenant’s rights are unchanged.
Deferred maintenance or code issues
Porches, roofs, knob-and-tube wiring, lead-safe certificates, and minimum-housing notices. Rather than fund the work to get a lender to approve a buyer, sell as-is and let us take the list.
Out-of-state owner
Managing a Rhode Island rental from another state through a property manager who keeps billing you. We walk the building, send you a video, make the offer, and close with you signing remotely.
What happens to the tenants when you sell
Rhode Island’s Residential Landlord and Tenant Act, R.I. Gen. Laws § 34-18, governs every step. The short version: selling the building does not end anyone’s tenancy, and the new owner inherits your obligations. Below is what that means in practice. It is general education, not legal advice; a Rhode Island real-estate attorney should review your specific leases before closing.
Leases survive the sale
A fixed-term lease binds the new owner until it ends. Month-to-month tenancies continue on the same terms. A buyer who wants a unit vacant has to follow the same rules you would, which is why most retail buyers avoid occupied properties and why we do not.
Security deposits move with the building
Under § 34-18-19, deposits are capped at one month’s rent, and whoever holds the landlord’s interest when a tenancy ends is bound to return them. At closing, deposits are credited to the buyer and the responsibility transfers. Have the amounts documented per unit.
Notice before entry
Section 34-18-26 requires at least two days’ notice to a tenant before entering a unit for a non-emergency reason, including showings and inspections. We schedule our single walkthrough through you with proper notice, and we do not ask tenants to prepare the unit.
Ending a month-to-month tenancy
Section 34-18-37 requires at least 30 days’ written notice to terminate a month-to-month tenancy. You do not need to serve it to sell to us. If a buyer ever tells you the tenants must be out first, that buyer is asking you to absorb a cost we would take on ourselves.
Telling tenants who the new owner is
Section 34-18-20 requires that tenants be told in writing the name and address of the owner or the person authorized to act for them. After closing, we send that notice so rent and repair requests come to us, not you.
Tenant estoppel letters
Not required by Rhode Island law, but a one-page letter from each tenant confirming their rent, deposit, and lease term protects you from claims after the sale. We can provide the form and are happy to close without it if a tenant will not sign.
Three steps, and your tenants are never disrupted
Tell us about the building
Fill out the form below or call (401) 267-4066. Address, number of units, current rents, and lease terms is enough to start. Copies of the leases help but are not required for a first conversation.
One walkthrough, one written offer
You give the tenants notice, we visit once, and we look at the structure, systems, and units. Within 24 hours you have a written cash offer that accounts for the rents, the leases, and the condition.
Close and hand over the keys
Accept, pick a date, and we close at a Rhode Island title company. Deposits and prorated rent are handled on the settlement statement, and we notify the tenants of the change in ownership.
Listing an occupied rental vs. selling to Offer New England
Listing with an agent
- Showings scheduled around every tenant, with two days’ notice each time
- Most buyers want it vacant, so cash-for-keys or waiting out leases
- Repairs and code items the lender requires before approving a buyer
- Appraisal and financing contingencies on a building with below-market rents
- Roughly 5–6% in commissions plus closing costs
Selling to Offer New England
- One walkthrough with proper notice, then no more visits
- Tenants stay; leases and deposits transfer to us at closing
- Sell as-is, nothing to repair or bring up to code first
- Cash, so no appraisal or lender to reject the rent roll
- No commissions; close in as little as 14 days
A fully vacant, renovated multi-family can list for more than we will pay. If you have the time and capital to get there, our comparison of companies that buy houses in Rhode Island is an honest look at when to hold out.
Selling a house with tenants in Rhode Island: FAQ
Do I have to evict my tenants before selling the house?
No. In Rhode Island a sale does not terminate a lease or a month-to-month tenancy; the buyer takes the property subject to the existing rental agreements. We buy occupied properties as a matter of course, so you never have to serve notice, negotiate cash-for-keys, or file in District Court. The tenants keep their homes and their rights, and you keep your timeline.
What happens to the security deposits when I sell?
They transfer with the building. Under R.I. Gen. Laws § 34-18-19, whoever holds the landlord’s interest when a tenancy ends is responsible for returning the deposit, so at closing the deposits are credited to us on the settlement statement and the obligation moves to us. Bring a per-unit list of deposit amounts and dates; that is all we need.
Can you buy the building if a tenant has stopped paying rent?
Yes. A non-paying tenant lowers the offer somewhat because we take on the cost and time of resolving it, but it does not stop the sale. We handle any eviction ourselves after closing, following Rhode Island’s District Court process, and you are out of it the day we close. Many landlords sell to us precisely because they do not want to go through that process.
Do I need to give my tenants notice that I’m selling?
Not to sell, but you do need to give at least two days’ notice before we enter a unit for the walkthrough, per § 34-18-26. After closing, § 34-18-20 requires tenants to be told the new owner’s name and address in writing, which we send. Letting tenants know early that nothing about their lease is changing usually makes the walkthrough easier for everyone.
Will you buy a triple-decker where the rents are below market?
Yes. Below-market rents on long-term tenants are common in Providence, Pawtucket, and Woonsocket, and we underwrite to the actual rent roll rather than a projection. It affects the offer amount, not whether we make one. We do not ask you to raise rents, non-renew anyone, or vacate a unit before closing.
How do you value an occupied multi-family?
We look at the building’s condition and location, the current rents against the market, the remaining lease terms, and the work each unit will need at turnover. Then we subtract our repair, holding, and closing costs and a margin. The offer is written and explained line by line, and there is no obligation and no fee.
Do I need the tenants to sign anything for the sale?
No. A tenant estoppel letter confirming rent, deposit, and lease term is helpful and protects you from later disputes, and we will provide the form, but it is not required by Rhode Island law and we will close without it if a tenant declines. The leases themselves and your deposit records are what matter at closing.
How fast can you close on a tenant-occupied property?
As fast as 14 days once you accept, because we pay cash and do not need a lender’s approval of the rent roll or an appraisal. Occupied buildings sometimes take a little longer only because of scheduling the walkthrough with proper notice. If you need more time, we set the closing date around you.
More ways we help Rhode Island property owners
- We Buy Houses in Rhode Island
- Selling an Inherited House in Rhode Island
- How to Sell a House As-Is in Rhode Island
- Capital Gains Tax When Selling in RI & MA
- Companies That Buy Houses in Rhode Island
- Facing Foreclosure in Rhode Island
- Sell My House Fast in Providence, RI
- Sell Your House Fast in Pawtucket, RI
- Sell My House Fast in Cranston, RI
- How We Buy Houses
Ready to stop being a landlord?
Get a written, no-obligation cash offer for your tenant-occupied Rhode Island property. No evictions, no repairs, no commissions, no vacancy.
Tell us about your rental property
Fill out the form below and a member of our team will call within 24 hours with a fair cash offer. Prefer to talk now? Call (401) 267-4066. Include the number of units and current rents if you have them handy.
This page is general education for Rhode Island property owners and is not legal or tax advice. Lease terms, notice requirements, and deposit handling depend on your specific rental agreements and the Rhode Island Residential Landlord and Tenant Act, R.I. Gen. Laws § 34-18; consult a Rhode Island real-estate attorney before selling an occupied property. Offer New England is a local cash home buyer, not a law firm.