How long does it take to receive an offer for my rental property?
Once you complete our short form, one of our team members will contact you, usually, within 24 hours. If the home is a good fit for us, we’ll provide a cash offer that will be contingent on an inspection of the property. If the home isn’t the right fit for us, we’ll also let you know that within that 24 hours.
Will Progress HOME purchase vacant rental properties?
Yes. We’re interested in buying your rental home whether it’s currently occupied or not.
Will Progress HOME purchase rental properties with a tenant in place?
Yes. Our team will help walk the tenant through the change in ownership.
What are Progress HOME’s criteria for purchasing rental properties?
Generally, we’re interested in purchasing single family rental homes with 3 bedrooms, 2 baths, and a garage that were built on or after 1980. Additionally, all our purchases are contingent on an inspection. However, we consider each property on its own, so please reach out to us even if your home, or some of the homes in your portfolio don’t fit that exact criteria.
Does Progress HOME have any purchasing restrictions for rental properties?
Yes. We try to avoid purchasing rental properties with swimming pools or septic systems. We also take into consideration the size and age of the home.
Does Progress HOME have a process for communicating a change in ownership with tenants?
Yes. We’re very experienced in communicating change of ownership and helping tenants transition over to Progress Residential as their new property manager. Our team will make sure the transition is as convenient as possible.
How long does it typically take to sell my rental property?
It typically takes 30 days to close. We do have flexibility, so please let us know if you have specific timing needs and we’ll do our best to accommodate you.
How will selling my rental property impact me from a tax perspective?
Selling an investment property may have tax implications depending on your situation. We recommend speaking with an accountant or other financial professional to determine what selling your property could mean for you.
