So you bought a rental house, or two for an investment or decided to move out of state and instead of selling the home you once lived in, you decided to rent it out. Then you moved out of state, perhaps to retire or make a career change, at any rate you now have to worry about renters. Now you have out of state rentals.
Owning an out of state rental property can be extremely costly. Sometimes travel is necessary, unless you pay a costly management company. As we all know, renters come and go and it’s difficult to find a good one who wants to rent for more than a year. 70% of renters don’t stay more than a year as they have goals and aspirations of their own, or perhaps they are just at a temporary job or not sure what the future holds for them, nevertheless, they won’t stay forever, which means you are constantly working. Working on a home you never plan to live in again. Is it really worth it? And if you moved away to “retire” and you still own that rental home elsewhere, you are still tied down. No one wants to be tied down while retired.
Rentals also need constant repairs, yard-work, updating and TLC, which is another reason you will remain at your renter’s beck and call. Even a newer home can have problems and need maintenance upkeep.
Traveling back and forth to your rental can be a drain on your bank account, along with time taken away from other things, like family, hobbies and fun travel. Some things to think about when thinking of selling your out of state rental home~~ you’ll save time and money and have peace of mind, along with cashing out that equity that you may need for more important things.
If you live out of state and are thinking of selling, contact us today or fill out our sell fast form at https://pdxrenovations.com/sell-house-quick/