I have three properties for sale right now and each of them has a potential rental market as well. My clients each have differing stories, but the need to generate some income from their home is important to all of them. 64-65 Shore Road in Wellesley has a second home (65) on the property that is a rental property. Should 400 Blue Hill Avenue in Milton not sell during the summer, we will offer it for rental in August for the many families that did not find suitable housing in the town so their children can enjoy the good school system. My 44 LaSell single family home in West Roxbury is also both for sale and for rent.
64 Shore Road, Wellesley MA
44 LaSell St, West Roxbury MA
The rental market in the Boston area is super hot and charged. Prices are going up on the rentals and the renter’s are in a scramble to get a good one, or be left with the rest. We had scheduled for the West Roxbury property to have it’s rental period begin in September, but we have found some prospects who can move in right away. With the West Roxbury home this may make sense to allow the home to be rented for the year and re put it on the market next year.
400 Blue Hill Avenue Milton MA 02186
The Wellesley home is a harder story. We will rent the home on a “tenant at will” basis with a 60 day notice should we sell the property. This is a risk for the tenant and the potential buyer. Buyers want the property free and clear, and tenants want not to be disturbed too often. Moving is one of the most stressful things there is.
The Milton home will be a great rental as well, but I do have two potential buyers who may be able to step up before September, in which case the home will be sold. Having a home that is both a rental and a sale is not easy. There are more questions to be answered and more difficulty in the marketing message, but sometimes we have to make lemonade out of lemons.
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