What about the security deposit I'm holding?
At closing, we take over the security deposit. You give it to us (or it's credited on the settlement sheet) and we become responsible for returning it to the tenant when they eventually move out.
Seller Situation
Selling rental property as a tired landlord.
You bought a Philly rowhome as a rental 10 years ago because it looked like easy income. It wasn't. The tenants turn over, L&I keeps sending notices, and the repair bills keep coming. You're ready to be done. Here's how we can help.
What You're Dealing With
Every tired landlord we've bought from has the same story with different details. The calls at 2am about the water heater. The eviction that took 5 months. The $8,000 HVAC replacement. The L&I violation you didn't know existed until the letter came. The 40% of the market rate you're actually clearing after expenses.
You don't have to keep doing this. You can sell the property, with the tenants still in place, and move on. We buy tenanted Philly rentals regularly — 21 of our 55+ closed deals have been tired-landlord sales.
Your Real Options
Three honest paths
Option 1 · List with an agent (tenants stay or leave)
Some agents will list tenanted properties, but most prefer vacant. Showings with tenants in place are hard — you need tenant cooperation, which tenants rarely give. You usually end up either waiting until the lease ends (months) or paying cash-for-keys to get them out. Works, but slow.
Option 2 · Sell to another investor
Other small landlords sometimes buy tenanted rentals directly. You'd find them through Philly REIA, BiggerPockets, or direct networking. Saves the agent commission but takes effort and usually gets you a similar price to selling to us.
Option 3 · Sell to us
We buy with tenants in place, subject to the existing lease. No showings. No tenant displacement. No cash-for-keys. We take over landlord duties at closing. Fair cash price based on the rental math — rent, repair condition, and the tenant situation.
When Covenant Fits
When we make sense
- You have 1-5 Philly rentals and you're done with the lifestyle.
- Your tenants are still there and you don't want to evict them.
- The property has deferred maintenance you can't afford to tackle.
- You have open L&I violations or code issues.
- You want to simplify and cash out your equity.
Philly Specifics
Philadelphia landlord-specific realities
Philadelphia has one of the stronger tenant-protection frameworks in Pennsylvania. Evictions take time (often 4-8 months through the courts) and are expensive. Good Cause Eviction Law has been debated for years.
L&I (Licenses & Inspections) can be aggressive about enforcement, especially on older rental rowhomes. Violations for peeling paint, missing smoke detectors, or open code issues are common and can accumulate fast.
Rental licenses are required for nearly all Philly rentals. If your rental isn't licensed, you might owe back fees at closing. We factor that into the offer.
Where
Neighborhoods where we see this most
Related
Situations that often overlap
Situation Questions
Questions about tired landlord sales
What if the tenant is behind on rent?
We'll still buy. We factor the back rent into our underwriting. After closing, we handle the collection or eviction ourselves.
Can you buy multiple rentals at once?
Yes. We've closed 3-4 rentals from the same landlord on the same day. Send us the addresses and we'll make offers on each.
A Direct Offer, Delivered in 24 Hours
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