Today we’re discussing why renting your home out in today’s rental marketplace can be smarter than selling it. Selling your house can be a stressful and time consuming nightmare that can have you stuck for months. You could also be leaving thousands of dollars on the table. Home ownership has dropped to its lowest level since 1995, and buyers are still struggling to get financing. Homes are failing to appraise in many cases. But the Tampa rental market is booming. Rents are on the rise and there is a huge demand for rental homes, with 1.7 million new renters expected to enter the marketplace over the next 12 months alone.
We are no doubt becoming a nation of renters. There is a reason why large Wall Street investment funds like Blackstone and Invitational Homes are buying up so many single family homes and turning them into rentals. Renting out a property allows you to have someone else pay your mortgage. In the meantime, you collect a rent check every month and take advantage of several tax benefits. As a real estate investor, you also allow your property to appreciate in value over time.
Contact us at InvestPro, and we’d be happy to help you decide if renting out your property is the best choice for you. You’ll also receive a free rental analysis so you can determine how much cash flow you can expect from your home.