Don't wait out an eviction to sell. We buy tenant-occupied rental properties for cash, including properties with problem tenants or non-paying renters.
Being a landlord in New Jersey is hard enough without bad tenants — non-payment, lease violations, property damage, or a situation that's slowly draining your savings. The eviction process in NJ can take 4 to 12 months from first filing to lockout, and during that time the rental income is zero while the mortgage keeps coming due. Most retail buyers won't touch a tenant-occupied property — especially one with known issues. Danny Diamond Property Investments buys rental properties with tenants in place throughout Gloucester, Camden, and Salem County. You don't need to evict first, and you don't need to convince the tenants to leave. We take over as the new landlord at closing and handle whatever needs to happen from there — our problem, not yours.
Common Landlord Situations We Buy Out Of
We regularly close on: properties with tenants 2+ months behind on rent, properties where the tenant has refused to let the owner or property manager inspect, tenants violating the lease (unauthorized occupants, pets, smoking, damage), tenants with pending or active eviction cases, section 8 tenants where the voucher situation has soured, long-term holdover tenants from an inherited property, and landlords who are simply done and want out of the business entirely. We've also closed on properties with 'professional tenants' — people who know the eviction process better than the landlord and are gaming it.
Why Wait-and-Evict-Then-Sell Usually Loses
The math is brutal. A typical NJ eviction costs $1,500-$4,000 in legal fees, takes 4-12 months, and during that time you're carrying the mortgage, taxes, insurance, and any repairs on zero rental income. Factor in the damage the tenant may cause on the way out, and the final cleanup and turnover costs. Then you still have to list the property, find a buyer, and close — another 2-4 months. From first day of late rent to cash in hand: often 9-15 months and $10,000-$25,000 of out-of-pocket loss. A cash sale today resolves it in 7-14 days.
How We Handle the Tenant Situation
Contact us with the property address, an honest summary of the tenant situation, current rent and lease status, and any court filings already in motion. We'll evaluate the property (we don't need to enter the unit — we inspect from the exterior and common areas). Within 12 hours you get a cash offer that reflects the tenant situation. At closing, the lease transfers to us and we become the new landlord. Whatever happens next — continued rental, cash-for-keys, eviction, sale to the tenant — is our operational problem. You're done at closing.
NJ Landlord-Tenant Rules — What You Need to Know
New Jersey has strong tenant protections. You generally cannot evict a tenant just because you're selling the property — the lease transfers with ownership, and the new landlord (us) inherits the existing lease. Month-to-month tenants can be given notice, but even that has specific legal requirements. You also cannot coerce or 'cash-for-keys' a tenant out without proper documentation. We handle all of this post-closing — you don't need to manage it before the sale.
Frequently Asked Questions
Do I need to evict the tenant before selling to you?
No. We buy tenant-occupied properties regularly and take on the tenant situation at closing. You don't need to file for eviction, give notice, or negotiate with the tenant before selling to us.
What if my tenant is behind on rent — do I keep the back-rent judgment?
Yes, typically. Any pre-closing rent owed to you stays with you as landlord — a separate claim from the property sale. We take over collection on any post-closing rent. Specifics depend on your lease and any assignment language at closing.
Can you close on a multi-unit rental (duplex, triplex, fourplex)?
Yes. We buy small multi-family rentals (2-4 units) with tenants in place throughout South Jersey. Larger buildings are evaluated case-by-case.
What about Section 8 tenants?
We buy Section 8 rentals regularly. The voucher administration transfers with the property, and we work with the housing authority on re-certification post-closing.