Your House Hasn't Sold Yet. Should You Rent It Out Instead?

Your home has been sitting on the market for weeks. Maybe even months.

You’ve had a few showings. Maybe a lowball offer or two, but nothing serious enough to make you want to move forward.

And now you’re wondering:

Should I just rent it out instead?

This is becoming more common than you might think. Homeowners who planned to sell are shifting gears and becoming what many call “accidental landlords.” The idea is simple: If the home won’t sell for the price you want, maybe renting it can help cover the mortgage until the market improves.

But renting out your home is a much bigger decision than most people expect.

Before you pull your listing and turn your property into a rental, there are a few things you need to think through carefully.

Why More Homeowners Are Choosing to Rent Instead

According to Zillow, around 2.3% of homes currently listed for rent were originally put on the market for sale first. That’s the highest percentage in nearly six years.

So if you’re considering this move, you’re definitely not alone.

But just because it’s becoming more common doesn’t automatically make it the right choice for your situation.

Before making a decision, ask yourself these three important questions.

1. Would Your Home Actually Work as a Rental?

Not every home makes a good rental property.

A lot depends on:

• Your location
• The condition of the home
• Rental demand in your area
• Competing rental inventory nearby
• The monthly rent you could realistically charge

You also need to think about logistics.

If you’re moving out of the area, who’s going to handle repairs and maintenance? Is the home move-in ready for tenants, or does it need upgrades first? Are there already a lot of vacant rentals nearby competing for attention?

If your property can’t generate enough rent to comfortably cover your expenses, renting it out could create more financial stress instead of solving the problem.

2. Are You Ready to Be a Landlord?

On paper, rental income sounds passive.

In reality, being a landlord is work.

Even with great tenants, issues come up:

• Emergency repair calls
• Missed rent payments
• Property damage
• Tenant turnover
• Maintenance costs
• Vacancies between renters

And if you hire a property manager to handle those responsibilities, that comes with additional costs too.

A lot of homeowners underestimate how demanding rental ownership can be until they’re already deep into it.

3. Have You Run the Real Numbers?

This is where many accidental landlords get surprised.

Some expenses go far beyond the mortgage payment.

For example:

• Landlord insurance can cost roughly 25% more than a standard homeowners policy
• Property management fees often run around 10% of the monthly rent
• Routine maintenance and repairs add up quickly
• Marketing costs may be needed to find tenants
• Vacancies can leave you paying the mortgage without rental income

For some homeowners, the numbers still make sense.

For others, renting becomes far more expensive and stressful than expected.

The Real Problem May Not Be Your House

If your home hasn’t sold, it’s easy to assume the market just isn’t interested.

But often, the issue isn’t the property itself.

It’s the strategy behind the listing.

Sometimes the pricing is off. Sometimes the presentation doesn’t connect with buyers. And sometimes the marketing simply isn’t reaching the right audience.

A few smart adjustments can completely change how buyers respond to your home.

That’s why programs like the Guaranteed Multiple Offers Program exist. The goal is to create stronger exposure, attract serious, qualified buyers, and generate multiple offers that give sellers real options instead of letting the home sit on the market.

Before You Become an Accidental Landlord

Renting may be the right move in some situations.

But it shouldn’t be a decision made out of frustration because your home didn’t sell quickly.

Before you pull your listing, take a step back and evaluate whether the current sales strategy is truly giving your property the best chance to succeed.

Sometimes, a few changes in pricing, presentation, or marketing can make all the difference.

And before you take on the responsibilities and risks of becoming a landlord, it’s worth exploring every option that could help you sell your home faster, easier, and more profitably.

Visit www.davefriedmanteam.com, click the links below, or call us at (843) 972-3833.