Should you rent out your house if it doesn’t sell?
If your home isn’t getting the offers you were hoping for, you might be asking yourself: “Maybe I should just rent it out instead?” It’s a question more homeowners are wrestling with these days. In fact, a growing number of people are becoming what’s often called “accidental landlords.”
On the surface, renting your home can seem like a smart backup plan. It allows you to hold onto your property, cover some or all of the mortgage, and maybe even build long-term wealth. But before you make that decision, it’s important to look at the bigger picture.
Why Renting Might Not Be the Right Move
The truth is, there’s probably a reason renting wasn’t your first plan. While it can sound appealing, not every home makes a good rental property. What works well for a long-term investment isn’t always the same as what works for your primary residence.
Renting comes with responsibilities—and risks—that many homeowners underestimate. Beyond collecting rent, you’ll need to budget for repairs, maintenance, insurance, and unexpected expenses. If something breaks, you’re the one on call, sometimes at the least convenient times. It can also be stressful navigating tenant issues, vacancies, or market shifts that impact rental demand.
Weighing the Pros and Cons
That doesn’t mean renting is always a bad idea—it just means it’s not as simple as it may sound. For some, the extra income can be worth the effort, especially if the home is in a high-demand rental area. But for others, the headaches outweigh the financial benefits.
The key is to weigh the pros and cons carefully before deciding. Ask yourself:
- Does the rental income cover the mortgage, taxes, and upkeep?
- Do I have the time—or a reliable property manager—to handle tenant needs?
- Would selling, even at today’s prices, give me more peace of mind and financial freedom?
Renting can work in certain situations, but it’s not always the best option for every homeowner. Before you take the leap, make sure the numbers add up and the responsibilities fit your lifestyle. Sometimes the smarter choice is to sell and move forward—without the extra stress of being a landlord.
If you’d like to talk through your options, I’d be happy to help you evaluate what makes the most sense for your situation. You can reach me at petercunharealtor@gmail.com or call 917-690-5390.
