Why You Should Rent Your Tacoma House if You Can’t Sell it

Selling a home can be frustrating. If you’ve spent a lot of time maintaining it, staging it, and creating an attractive listing, you want the offers to start rolling in as soon as possible.

The market is always changing, however, and sometimes there’s just too much competition or a less-than-enthusiastic pool of potential homebuyers. Sometimes, you just can’t get the price you want.

If you’ve already identified another home that you’d like to move into, or you’re relocating out of the area and you’re feeling nervous about how you’ll do that without selling your current home, we have another option: you could rent it out.

Rent Until the Market Improves

Instead of leaving your house vacant on the sales market, why not move some great tenants into it so you can at least earn some rental income and help defray the costs of maintaining the property? This will allow you to earn money on your asset right now, and over time that home will also continue to appreciate in value. You’ll build more equity. And, when the market is a bit stronger in a year or two or even five years, you’ll be able to sell for what you want and make more money on the deal.

Renting Keeps you Anchored to the Tacoma Market

The housing market in Tacoma is competitive, and prices are rising every year. By renting out your home when it doesn’t sell right away, you’re able to keep a valuable asset that’s only going to grow more valuable. Perhaps you’re leaving the area for a job, for school, or for another opportunity or responsibility. If you want to return to the area in a few years, you might find that you’re completely priced out of the real estate market. It could require a lot more capital to buy a home here. If you rent out the home you already have after trying to sell it, you’ll still have that investment here. You can sell it in order to buy something else or you can move back into it. Renting out the property gives you options.

Professional Tacoma Property Management Provides Peace of Mind

If you’ve never been a landlord before, you may be wondering how you could possibly find a tenant and rent out your home. There’s no need to worry about the details. Professional Tacoma property managers are able to protect your home and deliver peace of mind. A good management company will help you prepare the property for the rental market, advertise it to potential renters, and screen applicants thoroughly to ensure you’re placing someone who will pay rent on time and take care of your home.

Once a tenant is placed, your property manager will collect rent from them and deliver it to you. There will be regular maintenance performed, emergencies responded to, and a careful tracking of income and expenses. You’ll be able to view all statements, invoices, inspection reports, and tenant communications.

Contact us at People’s Real Estate & Property Management if you’re having trouble selling your property. We’d be happy to serve as your Tacoma property management resource.