Marketing Timing makes unlikely Landlords

Jul 21, 2008 - 12:16 pm | By


With real estate prices falling in most markets, some property owners are renting out their homes while they live in apartments. They are waiting for the property values to increase before they sell and move on.   

The housing market morass has created a new class of real estate investors: the accidental landlords. Some, like Mr. Vallance, have moved into new homes and can’t sell their old ones — at least for the prices they want — while others, like Dr. Siqueira, chose to invest in the changing market. Then there are those for whom renting has become a way to forestall impending foreclosure.

If you are a new unlikely landlord, be aware of the pitfalls of renting out your property too quickly to the wrong tenant.  Conduct a thorough background check of all prospective tenants, including tenant credit report, evictions report and a criminal records search.

 

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