What does active under contract mean for rental property?

If you have a tenant under contract, you need to periodically re-evaluate the property. The tenant may have the right to terminate the lease if they decide to move out and you would not want to find out that the property is no longer a good fit for current tenants.

What does it mean active under contract for investment property?

An investor can typically rent out a property under a lease with-option-to-buy agreement (or contract with a right of first offer to buy), which gives the tenant the option to purchase the property at a set price at the end of their lease. The tenant can exercise this option by providing notice to the property owner that they want to purchase the property. Once the tenant gives their notice, the owner can then, at their option, terminate the lease or allow the tenant to purchase the

What does it mean active under contract for real estate investment property Texas

Under a typical lease agreement, the tenant is responsible for paying the rent. If the tenant stops paying rent, the landlord can file an eviction lawsuit against them. But, if the tenant is under an active contract with the landlord, the landlord cannot file an eviction lawsuit. Instead, the landlord must give the tenant a notice that the lease is ending and the tenant must vacate the premises.

What does it mean active under contract for real estate investment property?

If you are looking to rent your property, this is one of the questions you should ask your tenant. Under a standard lease, if a tenant doesn’t pay their rent by the due date, your property manager can terminate the lease. However, if it’s under an active lease agreement, then your property manager can’t terminate the lease without first notifying your tenant of why you’re terminating the lease.

What does active under contract mean for Texas real estate investment?

If you decide to use an under-contract buyer for your property, you need to be aware of the repercussions of the agreement. If the buyer fails to close on the property by the end of the agreement, you are no longer obligated to rent to that buyer. If the buyer does not pay their rent on time, you can terminate the agreement. There are no options for the buyer.