Rent while selling

By
Home Inspector with S.H.I.R.E. Inspection Services, Inc.

Hi folks,

After reading this mornings post by Stephanie LeFew that discussed pricing to sell and leasing your home while the market is poor, I visualized scratched cabinetry and burn holes in the carpet. These situations are the perfect place for a pre-listing inspection in any tight market! You will get three birds with one stone if you include a condition report that includes all wall, floor, ceiling, cabinet and countertop finshes regardless of condition. Face it, a thorough inspection is going to put the spotlight on flaws and defects. Why not add in the lusterous hardwood flooring, freshly painted walls or flawless countertops and cabinet facing. Showcase the condition of your home with flagged conditions that are neutralized with repairs, replacements or discounts to your asking price and protect yourself from renters at the same time. You can look at the rental of your home as an investment with some hard cash income without the fear of a trashed residence. This will give you documented proof of the homes condition before the renters moved in and if there is litigation, an expert witness to take the stand! It may cost a little more for the report to call out the condition, even when the condition is good. Pictures with the report are a must.

 

Comments (2)

Hunter Herbert
London Financial Capital - Berry Creek, CA

What are the safe guards for owners who wish to rent while the markets are soft.  I know of 2 people that had there homes so badly damaged it cost them 1,000's more to rehab after there tenants moved out.

Jul 07, 2008 06:12 AM
Ralph Smith
S.H.I.R.E. Inspection Services, Inc. - Canastota, NY

2nd to last sentence, "This will give you documented proof of the homes condition before the renters moved in and if there is litigation, an expert witness to take the stand!"  Take them to court! $1000-$5000 rent per month with double the rent security deposit $2000-$10,000. Good contract a must. 

Jul 07, 2008 06:21 AM