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If your home’s been sitting on the market longer than you’d like, you might be asking yourself: Should I just rent it out instead? It’s a common question these days, and for many homeowners, it’s turning them into what the industry calls “accidental landlords.”
At first glance, renting sounds like a quick fix—you keep the property, make some monthly income, and wait until the market feels better. But before you decide to trade “For Sale” for “For Rent,” let’s break down the reality of becoming a landlord and why it’s not always as simple as it seems.
Why More Homeowners Are Becoming Accidental Landlords
High mortgage rates and affordability challenges have slowed down home sales across the country. Some sellers would rather rent their house than drop their asking price. It feels like a smart backup plan—but here’s the catch: renting wasn’t part of your original plan for a reason.
Being a landlord can come with sleepless nights, unexpected costs, and way more responsibility than you signed up for.
Question 1: Does Your House Even Make Sense as a Rental?
Not every home is cut out to be a rental. Ask yourself:
- Is your neighborhood attractive to renters?
- Will rent cover your mortgage, taxes, insurance, and still leave a profit?
- Are you moving far away? Because fixing a leaky faucet from 1,000 miles away isn’t fun.
If you’re unsure about any of these, selling may still be the smarter financial move.
Question 2: Are You Ready for Landlord Life?
On paper, rental income looks like “easy money.” In reality, it looks more like this:
- Calls at midnight about broken toilets 🚽
- Late rent payments
- Repairs you weren’t planning (think HVAC, plumbing, or roof issues)
Unless you’ve got cash reserves or a property manager (who takes about 10% of your rent), you could end up with more stress than you bargained for.
Question 3: Have You Considered the True Costs?
Renting isn’t free money. Here are a few “hidden” expenses most new landlords don’t think about:
- Landlord insurance (about 25% more than regular homeowners insurance)
- Maintenance and tenant turnover costs
- Vacant months when you’re covering the mortgage yourself
- Marketing the property to find new renters
When you add it all up, renting often isn’t as profitable as it looks on paper.
A Smarter Move? Rethink Your Selling Strategy
If your home hasn’t sold, renting isn’t your only option. Sometimes all it takes is a fresh pricing strategy, new marketing, or repositioning your home to get buyers interested. That’s where working with the right real estate partner makes all the difference.
Bottom Line
Becoming a landlord might sound tempting when your home isn’t selling, but it’s not always the stress-free solution people imagine. Before you trade selling for renting, sit down with a trusted real estate expert to explore your options. The right strategy could get your home sold faster—and for the price you deserve.