Thinking About Renting Instead of Selling? Read This First

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Should You Rent Your Home Instead of Selling? Here’s What to Know

If your home has been on the market without the offers you hoped for, you might be wondering: Should I just rent it out instead?

It’s a common situation these days, and many homeowners in the same boat are becoming what’s known as “accidental landlords.” But before you take that path, it’s worth considering the realities of turning your home into a rental.

Why More Homeowners Are Considering Renting Right Now
With today’s higher borrowing costs, many buyers are stretched thin. That’s led to slower home sales and longer days on market. Instead of adjusting their price, some sellers choose to rent their property until conditions improve.

While this can sound appealing, becoming a landlord isn’t always the easy, income-generating solution it seems.

3 Questions to Ask Before You Rent Your House

  1. Will It Actually Be Profitable?

    • Is your home in an area that renters seek out?

    • Does it need repairs before it’s move-in ready?

    • Can you realistically cover the costs if it sits empty between tenants?

  2. Are You Ready for the Responsibilities?
    Renting isn’t just collecting a check each month. It may mean midnight calls for repairs, chasing down late rent, and dealing with property damage. Even with a property manager, you’ll still pay fees and need to stay involved.

  3. Have You Budgeted for the Hidden Costs?
    Renting comes with added expenses, such as:

    • Higher insurance premiums for landlord coverage

    • Property management fees (often around 10% of the rent)

    • Maintenance, repairs, and tenant turnover costs

All of these can eat into what you thought would be passive income.

The Bottom Line
For some homeowners, renting makes sense. But if you’re only considering it because your house hasn’t sold, a smarter move may be to revisit your pricing and marketing strategy instead.

With the right guidance, you could relaunch your listing and connect with serious buyers – without taking on the stress (and expense) of becoming a landlord.

👉 Want to explore your options? Let’s talk about the best plan to get your home sold.