http://pkrealtor.com/blog/categoryname_rental/sort_entrydatetime-desc/  If your house is on the market but you haven’t gotten any offers you’re comfortable with, you may be wondering: what do I do if it doesn’t sell? And for a growing number of homeowners, that’s turning into a new dilemma: should I just rent it instead?There’s a term for this in the industry, and it’s called an accidental landlord. Here’s how Yahoo Finance defines it:“These ‘accidental landlords’ are homeowners who tried to sell but couldn’t fetch the price they wanted — and instead have decided to rent out their homes until conditions improve.”Why This Is Happening More Often Right NowAnd right now, the number of homeowners turning into accidental landlords is rising. Business Insider explains why:“While there have always been accidental landlords . . . an era of middling home sales brought on by a steep rise in borrowing rates — is minting a new wave of reluctant rental owners."Basically, sales have slowed down as buyers struggle with today’s affordability challenges. And that’s leaving some homeowners with listings that sit and go stale. And if they don't want to drop their price to try to appeal to buyers, they may rent instead.But here’s the thing you need to remember if renting your house has crossed your mind. Becoming a landlord wasn’t your original plan, and there’s probably a reason for that. It comes with a lot more responsibility (and risk) than most people expect.So, if you find yourself toying with that option, ask yourself these questions first:1. Does Your House Have Potential as a Profitable Rental?Just because you can rent it doesn’t mean you should. For example:Are you moving out of state? Managing maintenance from far away isn’t easy.Does the home need repairs before it’s rental-ready? And do you have the time or the funds for that?Is your neighborhood one that typically attracts renters, and would your house be profitable as one?If any of those give you pause, it’s a sign selling might be the better move.2. Are You Ready To Be a Landlord?On paper, renting sounds like easy passive income. In reality, it often looks more like this:Midnight calls about clogged toilets or broken air conditionersChasing down missed rent paymentsDamage you’ll have to fix between tenantsAs Redfin notes:“Landlords have to fix things like broken pipes, defunct HVAC systems, and structural damage, among other essential repairs. If you don’t have a few thousand dollars on hand to take care of these repairs, you could end up in a bind.”3. Have You Thought Through the True Costs?According to Bankrate, here are just a few of the hidden costs that come with renting out your home:A higher insurance premium (landlord insurance typically costs about 25% more)Management fees (if you use a property manager, they typically charge around 10% of the rent)Maintenance and advertising to find tenantsGaps between tenants, where you cover the mortgage without rental income coming inAll of that adds up, fast.While renting can be a smart move for the right person with the right house, if you’re only considering it because your listing didn’t get traction, there may be a better solution: talking to your current agent and revisiting the pricing strategy on your house first. With their advice you can rework your strategy, relaunch at the right price, and attract real buyers to make the sale happen.Bottom LineBefore you decide to rent your house, make sure to carefully weigh the pros and cons of becoming a landlord. For some homeowners, the hassle (and the expense) may not be worth it.  http://pkrealtor.com/blog/990/thinking-about-renting-your-house-instead-of-selling?-read-this-first/ Mon, 01 Sep 2025 11:00:02 -0500 Now that summer’s here, you’re probably planning your next getaway. But what if you didn’t have to? Buying a vacation home means having a built-in escape you can use year after year. It gives you the chance to generate rental income and have a go-to retirement destination in the future. If you’re dreaming of owning your own slice of paradise, let’s connect and see if we can make it happen this summer.? http://pkrealtor.com/blog/959/should-you-buy-a-vacation-home?/ Tue, 08 Jul 2025 09:32:16 -0500  Remember the chatter in the headlines about all the homes big institutional investors were buying? If you were thinking about buying a home yourself, you may have wondered how you’d ever be able to compete with that. Here’s the thing. That’s not the challenge so many people think it is – especially right now.Let’s break down what’s really going on and why the recent shift in the approach investors are taking could tip the scales in your favor.Large Investors Are Pulling BackThe truth is institutional investors never represented as big a share of the housing market as people think. And now, they’re backing off even more.Today, big real estate investors aren’t buying as many homes. In fact, they’re actually selling more than they’re buying.According to data from Parcl Labs, 6 out of 8 of the largest institutional single-family rental investment companies in America sold more homes than they bought in the second quarter of 2025 (see graph below):And here’s the stat that really puts it in perspective. According to Dominion Financial, for every home being bought by big investors, about 1.75 are being sold.What’s Causing Big Investors To Change Course?The reason institutional investors aren’t buying as many homes now compared to recent years is actually pretty simple. It’s because home values aren’t rising as fast as they were a few years ago, but the costs associated with rental maintenance are.Since most institutional investors buy homes to rent them out, those higher costs eat into their margins. Remember, to investors, homebuying is a business.But you’re not buying a home just for this year or next. You’re buying a place to build a life, and that’s a long-term play.Historically, home values tend to rise over time. So, while investors may be sidelined by what’s happening right now, you’re in a different position entirely. You have the chance to buy while competition is lower and benefit from potential long-term price appreciation – something most investors are choosing not to wait for as they focus on shorter-term returns.What Does All This Mean for You?According to a recent survey, about 55% of real estate investors have no plans to grow their rental portfolios now or in the near future. With big investors stepping back, that means less competition from deep-pocketed buyers. And since they’re adding to today’s for-sale inventory, it also creates more options for you.Bottom LineIf you’ve been holding off on buying, now might be the time to take another look. Let’s connect so you can get expert guidance on what’s available and what might be a good fit for you.What kind of home would you be excited to make yours this year? http://pkrealtor.com/blog/956/why-big-investors-aren’t-a-challenge-for-today’s-homebuyer/ Wed, 02 Jul 2025 09:40:34 -0500 Are you wondering if it makes sense to buy a home right now? While today’s mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a homeowner.Home Values Appreciate over TimeThere’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been appreciating at a more normal pace, which is good news for the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this unpredictable, history shows in the long run, home values rise (see graph below): Using data from the Federal Reserve for the past 60 years, you can see the overall trend is home prices have climbed quite steadily. Sure, there was an exception around the housing crash of 2008 that caused prices to break the usual trend for a time, but overall, home values have been consistently on the rise.Increasing home values is one great reason why buying may make more sense than renting. As prices rise, and as you pay down your mortgage, you build equity. Over time, that growing equity gives your net worth a boost.Rent Keeps Going Up Through the YearsAnother reason you may want to consider buying a home instead of renting is the never-ending rent hike. If you've ever felt the pinch of rent increasing year after year, you're not alone. That’s because, rents have climbed steadily over the past six decades (see graph below):By buying a home, you can lock in your monthly housing costs and bid farewell to those pesky rent hikes. That stability is a game-changer.In the end, it all boils down to this: your housing payments are an investment, and you've got a choice to make. Do you want to invest in yourself or your landlord?By becoming a homeowner, you're investing in your own future. When you rent, that’s money you never get back.When you factor in home values consistently rising, plus the opportunity to get relief from never-ending rent hikes, homeownership can be a path to financial security. As Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the National Association of Realtors (NAR), states: “If a homebuyer is financially stable, able to manage monthly mortgage costs and can handle the associated household maintenance expenses, then it makes sense to purchase a home.”Bottom LineWhen it comes down to it, buying a home offers more benefits than renting, even when mortgage rates are high. If you want to avoid increasing rents and take advantage of long-term home price appreciation, let’s connect to go over your options. http://pkrealtor.com/blog/493/invest-in-yourself-by-owning-a-home/ Wed, 25 Oct 2023 01:33:08 -0500 If you’re a homeowner ready to make a move, you may be thinking about using your current house as a short-term rental property instead of selling it. A short-term rental (STR) is typically offered as an alternative to a hotel, and they’re an investment that’s gained popularity in recent years. According to a Harris Poll survey, 28% of homeowners have considered using a rental service to temporarily rent out their home for additional income.Owning a short-term rental can be a tempting idea, but you may find the reality of being responsible for one difficult to take on. Here are some of the challenges you could face if you rent out your house instead of selling it.A Short-Term Rental Comes with ResponsibilitiesSuccessfully owning and renting a house takes work. Think through your ability to make that commitment, especially if you plan to use a platform that advertises your rental listing. Most of them have specific requirements hosts have to meet, and it takes a lot of work. A recent article from Bankrate explains:“Managing a rental property can be time-consuming and challenging. Are you handy and able to make some repairs yourself? If not, do you have a network of affordable contractors you can reach out to in a pinch? Consider whether you want to take on the added responsibility of being a landlord, which means screening tenants and fielding issues, among other responsibilities, or paying for a third party to take care of things instead.”Not only is there the upfront time and cost of owning a short-term rental, but there are also risks that could come up for you down the road. Investopedia warns:“Risks of hosting include renting your place to rude guests, theft or damaged property, complaints from neighbors, and potential regulatory violations depending on your location.”There’s a lot to consider before taking the leap and converting your house into a short-term rental. If you aren’t ready for the work it takes, it could be wiser to sell instead.Your House May Not Be Ideal for Your Rental GoalsNot every house ends up being a profitable short-term rental either. One of the biggest factors is where your home is located. The less likely your neighborhood is to be a travel destination, the fewer requests you should expect from potential renters—and that impacts your bottom line. An article from the National Association of Realtors (NAR) advises:“When it comes to the viability of profitable STRs . . . consider factors like location, amenities, and whether the property is appealing. Most people seek STRs in locations where they vacation, so proximity to attractions is important. Likewise, the property should cater to a variety of travelers.”It’s smart to do your homework and learn how much rentals in your area go for, how much business they get throughout the year, and how this compares to your goals.Bottom LineConverting your home into a short-term rental isn’t a decision you should make without doing your research. To decide if selling your house is a better alternative, let’s connect today. http://pkrealtor.com/blog/298/should-you-rent-your-house-or-sell-it?/ Wed, 01 Feb 2023 06:43:54 -0500