Vermont situation guide · Updated November 2026

Wholesaling Tenant-Occupied Properties in Vermont

Wholesaling tenant-occupied properties in Vermont means contracting for a home that has renters living in it and assigning that deal to a buyer who accepts the tenants. In Burlington, where rental demand is strong, that can work well. No wholesaler-specific statute was found.

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The short answer

Can you wholesale tenant-occupied properties in Vermont?

Yes, in most cases you can contract for a rented Burlington home and assign your position, since the buyer generally steps into the existing leases. A wholesaler-specific Vermont statute was not found, though broker licensing in Title 26 and the rental chapter in Title 9 can still matter. Read current text and ask an attorney.

Tenants have rights that do not disappear when a house is sold. A lease normally continues, and a buyer inherits both the rent and the duties. Our tenant-occupied property guide covers the basics and our cash for keys guide shows how some owners move tenants out by agreement.

Your job is to learn the lease terms before you commit. Ask for every lease, the rent roll and the deposit records. An estoppel letter from each tenant can confirm what they pay and what they were promised.

Tenant-Occupied Properties in Vermont at a glance

Tenant status	Leases generally continue after a sale
Rental law	9 V.S.A. chapter 137; check current text
Foreclosure tenants	At least 30 days after a writ is served (12 V.S.A. chapter 172)
Flood disclosure	Seller provides flood history under 27 V.S.A. 380
Brokerage	A paid role in a deal can raise licensing questions
Wholesaler statute	None found; check current text

The opportunity

Why rented homes make sense in Burlington

Burlington’s rental market is tight, with a large student and workforce population. Older one-to-four unit buildings in the Old North End, the Hill Section and nearby areas often have tenants in place. Owners who want to sell are sometimes stuck because a typical retail buyer wants a vacant home. That leaves a gap for investors who like income at closing, and for wholesalers who can bridge it. Keep numbers modest and check current local data. Our ARV guide explains valuation.

Built-in income

A rented building already produces rent, so an investor can start collecting at closing.

Fewer showings

Owners often dislike showing a home to strangers while tenants live there. A private sale avoids that.

Less repair pressure

Tenants may live with older finishes, so a buyer can plan work on a slower schedule.

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Lead sources

Where to find tenant-occupied leads in Vermont

Mail-address mismatches. Rental owners often have a different mailing address. See our absentee owner guide.
Expired listings. A rented home that failed to sell may still interest the owner. Our expired listings guide explains outreach.
Landlord contacts. Talk with local property managers, who know which owners are tired.
Foreclosure papers. Tenants must be told when a foreclosure is pending, so owners in trouble often have renters. See pre-foreclosure leads.
Driving routes. Look for multiple doorbells and parked cars. Pair it with ownership research.

Your exit

Who buys rented property in Vermont

Small landlords, family investors and buy-and-hold buyers want rented homes. They care about the lease end dates, the rent compared with market and the condition of each unit. Use a one-page summary so they can decide fast.

A buyer who plans to renovate must accept that tenants have rights. Remind buyers to read assignment terms and to avoid any promise to deliver the property vacant.

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Step by step

How to start wholesaling tenant-occupied properties in Vermont

Gather lease facts. Collect leases, rent amounts, deposits and move-in dates from the owner.
Ask about repairs. Find out what tenants have reported and what is still open.
Check rental law. Read 9 V.S.A. chapter 137 and talk to an attorney before you speak to tenants.
Test the value. Check the MAO calculator and the ARV calculator against what the rents support.
Sign and explain. Put the right to assign in the contract and make sure the owner understands it.
Package the deal. Prepare a summary of leases and rents for your buyer list.
Close and prorate. A title company used to investor deals can prorate rents and move deposits.

Your checklist for wholesaling Tenant-Occupied Properties in Vermont

Read every lease before you sign the purchase contract.
Do not enter a unit without the owner’s and tenant’s consent.
Confirm where security deposits are held.
Ask for flood history and the flood map notice.
Never promise a buyer a vacant property.

A Vermont example: a rented triplex in Burlington’s Old North End

Contract price	$610,000
Rents per month	$5,700 for three units
Repairs	$40,000
Buyer’s price	$624,000
Assignment fee	$14,000
Tenant move-outs	None

In this worked example, an owner with a triplex in the Old North End wants to sell because her health limits her. All three units have tenants, and two leases end next summer.

You contracted at $610,000 with a right to assign. A small landlord reviewed leases and rent history, then agreed to pay $624,000 and to honor the leases.

The seller gave the flood history required in a Vermont conveyance, and you earned a $14,000 fee. All figures here belong to a worked example.

Vermont rules to know

Tenant rights, foreclosure tenants and licensing

Residential rentals fall under 9 V.S.A. chapter 137. Notice periods for ending a tenancy were not confirmed here, so check current text and ask a Vermont attorney before anyone tells a tenant to leave. In foreclosure, a tenant receives at least 30 days after a writ of possession is served, and the owner must tell tenants that a foreclosure is pending.

A rented home still comes with the seller flood paperwork in 27 V.S.A. 380, and older housing may bring lead disclosure rules too. If you market your contract for pay, broker-license questions follow, so read our license guide.

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Handle leases with confidence

Tenant-occupied deals add paperwork and people. Mentorship students send us lease summaries and we help them decide what to ask for before they sign.

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FAQ

Tenant-Occupied Properties in Vermont: common questions

Is wholesaling tenant-occupied properties in Vermont legal?

Wholesaling is not singled out by any Vermont statute we found, so ordinary contract, rental and broker law sets the limits. The risk is mostly in how you are paid for marketing a contract. Have a Vermont attorney review that role against current Title 26 text.

Do tenants have to leave when a Vermont landlord sells?

Generally no. A lease usually continues, and the buyer takes the building subject to it. Vermont rental law, found in 9 V.S.A. chapter 137, governs, and notice periods should be confirmed in current text. Never promise a buyer that a unit will be vacant.

Can I talk to the tenants before I buy?

Ask the owner first. A polite conversation or an estoppel letter can confirm rent and terms, but do not enter units or pressure anyone. Tenants have rights, and an attorney can tell you how to approach them in your situation.

What if the landlord is in foreclosure?

A tenant gets at least 30 days after a writ of possession is served, and the owner must tell tenants a foreclosure is pending. These rules are in 12 V.S.A. chapter 172. Check current text and ask a Vermont attorney before you buy from an owner in default.

Do I still need to disclose flood history?

The seller does. 27 V.S.A. 380 requires flood map information and flood history before or with a conveyance contract. A buyer may terminate if it is missing. Collect that information early from the owner of the Burlington building so your buyer is not surprised late in the deal.