Are you considering renting out your home? Many would be sellers make the rational decision to hold off on selling, as it is evident that we are likely at the bottom of the cycle for residential real estate values. And yet, many home owners want or need to move on, literally and figuratively, with their lives. Whether it's a job change, retirement, a move up or down in house size, or any of a myriad of reasons that compel an owner to vacate their current home, it becomes time to move.
Leaving the home vacant and waiting for values to move up can be a costly endeavor, especially if the owner doesn't have much equity and is heavily leveraged. Most owners are not candidates for a short sale. And, vacant homes need to be watched over or risk freezing pipes leaking roofs, flooded basements and any of the unknown disasters that can quietly happen when noone is there to prevent them, and vandalism.
Although many would be Sellers don't want to rent out their HOME ("home" is defined as where their heart is), once they are able to see it as a HOUSE (that's a commodity), it often makes very good sense (and dollars) to put a tenant in the house and wait it out until prices are better.
Many would be Sellers are now by default newbie Landlords. Fear of the process is often inflamed by horrors stories of terrible tenants, and lack of knowledge on how to safely and legally protect oneself, and stay within the law. A very practical and affordable solution for these Landlords, and even experienced Investors is professional Property Management. A Property Manager will make the process of screening tenants with background checks, writing leases, collecting rents and security deposits, and evictions when necessary, as turnkey as possible. When the pipes leak at 11PM, the call goes to the property manager. In fact, in most circumstances, a Property Manager will insulate you from all the hassles other than the final decision making of approving tenants, or allowing pets and painting, etc.
Before Selling your home at a loss in this market, consider PROFESSIONAL PROPERTY MANAGEMENT SERVICES.
EXIT Realty Expertise represents Buyers, Sellers, Landlords and Tenants in the Fredericksburg, King George, Stafford, Spotsylvania, Westomoreland, Caroline, Dahlgren, Colonial Beach, Montross, Northen Neck Virginia Region and La Plata, Waldorf and Southern Maryland. 540-775-6555