Is It A Good Idea To Rent My Home While We Sell It?

By
Real Estate Broker/Owner with Bayou Properties

Is It A Good Idea To Rent My Home While We Sell It?

homes for sale in Alexandria La

Even in the best real estate market, finding a buyer (and getting to the closing table) may take a few months. From time to time sellers will ask if  a short term renter is a viable option. For most Alexandria La home owners the short answer is "probably not". Let's take a closer look at some of the potential concerns associated with renting.

  1. Less showing availability--Most renters will tell you accommodating showing requests will be "no problem". Then the requests come in and are either 1) denied by the renter or 2) the tenant goes in stealth mode. Either way, the showing opportunity is missed.
  2. A shallow renter pool-- Moving is both time consuming and costly. Want incentive does a renter have for a month to month lease? Is it worth the hassle of switching utilities, hiring movers, etc... just to rent your 3 bedroom ranch?
  3. The renter may disturb showings-- I have had renters who were gracious and accommodated even unreasonable showing requests. But I've had others who figured out they could remain in the home as long as it did not sell. Picture dirty dishes, clothes, pets, and people on your home tour. One renter would smoke while giving a special tour of the property.
  4. A complicated escrow process-- Once the house finds a buyer, things get tricky. While the purchaser is trying to arrange inspections, appraisals, walk through, etc...The renter will be packing and trying to find a new place to live. One memory I wish never to repeat was when stressed out first time buyers (and their parents) locked horns with mr/ms stressed out renter in the driveway. Boy those neighbors got a show!

If at all possible, my advice would be to not rent out your property. If your financial situation demands some rental income, call Doug Rogers (318) 613-1994 EARLY in the process. There are some steps we can take to minimize some of the above risks. Care to see what your Alexandria La home may fetch in this market? Go to Alexandria La Real Estate to explore local inventory.

Homes For Sale In Alexandria La

 

Posted by

Searching for a Top real estate agent in Alexandria Louisiana? Need help selling your Pineville, Louisiana home? Either way call Doug today!

Doug Rogers

Broker/Owner

Bayou Properties Realty LLC

 

Bayou Properties Realty LLC

301 Jackson Street, Suite 201

Alexandria La 71301

(318) 613-1994

 Equal opportunity housing. Doug Rogers is a licensed real estate broker in Louisiana

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Louisiana Rapides Parish Alexandria
Groups:
Active Rain Newbies
POSITIVE ATTITUDE for the Weary Soul
Louisiana Lagniappe
REALTOR LIFE
Real Estate Professionals

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
677,780
Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

Great post I too agree with your answer. Thanks for sharing I hope you have a great week ahead.

Feb 05, 2018 08:43 AM #1
Rainmaker
167,218
Erika Rae Albert, Austin Real Estate Expert
E*Rae Real Estate Group- Brokered by eXp Realty LLC - Austin, TX
Exceeding Expectations in Every Transaction

I agree with you as well, renters probably aren't the answer. There are some staging copanies who provide owners with quality tenants to live in and stage the home while it's on the market.  These "tenants"  create a win-win for the owner.  They stage the home, allow the home owners the benefit of lower insurance rates (not vacant) and the tenants benefit from low rents, and free moving services.  The rent goes to the staging company, and the tenants are always well vetted-incredibly accomodating and have nice furnishings.

Feb 05, 2018 08:03 PM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
779,132

Doug Rogers

Your Alexandria Louisiana Agent
Find out how much your home may be worth!
*
*
*
*
Spam prevention

Additional Information