Should I Rent Or Should I Sell ?????
These types of owners REALLY need a professional property manager to manage their investment * keep it RENTED * arrange for MAINTENANCE * get them the BEST return on their investment and have it in good shape when they want to test the market for re-sale!
I work with many area real estate agents to manage their unsold listings for OUR clients that they will re-list when our area sales market improves
Should I rent or should I sell? This is one question that I hear over and over again from homeowners. Many are frustrated that it is taking longer in the current market for homes and condos to sell and are wondering if they would be better off simply renting 'until the market turns around'.
Let's set one thing straight right away: prices are not going to go up as fast as they just came down! Anyone that thinks renting for a year or two will bring them into the kind of market we had a few years ago is fooling themselves!
With that said, let's consider what is involved in renting your home.
If you decide to rent your home or condo you have to be prepared to have all of the necessary repairs done before you put it on the market once the renters are out and it is to be sold. Often that means either replacing the carpet or having it professionally cleaned (depending on it's condition). Then there is repainting the place. Naturally, if you had great tenants you might not need to repaint or replace the carpet but let us consider what the condition could be with less than perfect tenants. It is possible that other damage might occur, especially if they had pets or small children. There is no way to know in advance and often the security deposit does not cover all of the damages done.
If you have a condo then there is a condo association to deal with. I have a friend who rented out her condo and received constant complaints from her condo association that the renters broke just about every rule in the condo association's book. Those constant complaints were not a picnic for my friend to have to address.
What happens if the renter stops paying rent? In Florida it can be a nightmare to get someone out of your place - even if they stopped paying rent! It is a long process and during that time you are not getting rent and probably have attorney expenses and court costs. Once you do get this type of tenant out there is a good chance that they did some damage to the place simply because they were angry. This is a worse case scenario, I will admit that, but you have to consider it when making your decision.
If you place your home or condo on the market for sale you must remember that you have to work with your agent to sell the property. That means making the place available for showings and if you are still residing there be sure that it is kept tidy. Nothing will turn a potential buyer off faster than walking into a cluttered, messy home!
Let us consider the condo or home that is vacant. If it is empty it is easily accessible for viewings. That is a great plus! Before you place the home or condo on the market you want to make sure that you have followed your listing agent's advice on how to prepare your home or condo for sale.
There are two things that sell a home: correct price and great marketing! You hire an agent for a reason and it is because this is their profession. Listen to their advice! You don't go to your dentist and tell him how to extract your tooth do you? Then don't tell your agent how to sell your home. Your agent makes his or her living selling homes and wants to see the property sold as much as you do. This will only be achieved if you work together.
Remember, it will be years before the market prices get has high as they were. That was an artificial world and it is gone. If you are waiting for it's return to sell you will be the owner of that property for a LONG time. Consider that when you think of renting rather than selling.
Remember, if you are thinking of purchasing here in the Clearwater, Palm Harbor, Crystal Beach, Safety Harbor, Dunedin, Tarpon Springs area or along our pristine Gulf Beaches here in Pinellas County give me a call! With years of experience in the local real estate market, I am here to assist you in making one of the most important purchases of your life! Give me a call today!!! Find out for yourself why living in Pinellas County is indeed living in Paradise!
Visit my web page at www.barbarajo.com to see all of my current listings!
ICH SPRECHE DEUTSCH!!!
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