I am thinking about selling my rental property, but currently there are tenants living there. Is it possible to "hand over" the current leases to a buyer/landlord or do I have to wait for all the leases to end?
The rental property is located in Columbia, Maryland / Howard County.
Yes you can sell the property while it is being rented.
The new owner has to honor the current lease agreements. Expect to provide copies of the leases to the potential buyer so they can review the contracts before committing to the purchase.
The current owner isn't obligated to inform the renters that the property is for sale, though being able to show rented units would require notification in advance. The rules for notification may be discussed in the lease documents, or local law.
It is not unheard of for the new owners to offer incentives to the current renters to either leave early, or to encourage them to not renew. This is so they can either renovate a building or convert the building to another use.
Renters in a month-to-month mode have to understand that they could receive their notice to not extend at any time, with the notice following the rental contract provisions.
Yes, you can absolutely sell a rental property while it is occupied by tenants. This is very common, and in fact, the house I was renting was sold while I was still living in it. The new owner was actually glad, because he had cash flow right away and knew that I was a good tenant taking good care of the home.
Nothing really changed for me, because my lease still had six months to go at the time he purchased the house, and when that lease ended, we negotiated a new one.
All I'll suggest is that you should discuss your plans with the tenant(s) and give them the chance to make plans of their own for moving in the event the new owner wants to live in the house. The idea is to make this a smooth transition for everyone involved.
It is not impossible, if you can find a buyer who wants those tenants and that lease agreement. Many will prefer to buy the place empty, so they can renovate everything at once and then find their own tenants.
