for sale or for rent?

2 Replies

A friend owns a house in the Wilmington, NC area about 3 miles from the beach. He would like to sell but had some good, low management tenants in there so he was fine with that. They informed him they would be moving out however. He asked if I felt that putting the home up for rent AND for sale at the same time would make them look more motivated/desparate as sellers. I told him that I feel it would not because it shows people that they are not in a situation where the house MUST be sold, and therefore have the luxury of renting or selling if the price is right. I havent seen it but it sounds like a nice neighborhood with the sale price being in the 425,000 range. Just hoping to get some other viewpoints to pass on.

I would agree with you in that I don't think putting the home for sale and for rent makes it look like the seller is desparate. Though if your friend is not someone who would call themselves a professional landlord, I may suggest that they just sell it before they accidentally rent to some really bad tenants.

Thanks. I'll definitely tell him to do his homework on screening tenants. I'm pretty sure he's only willing to rent to someone good as he's 4 hours away and realizes he can only take on an A1 tenant. I think the price point helps out there too.

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