Home owners who can’t or don’t want to sell their homes in today’s market but must move should consider renting out the property.
You will be pleased to know that Nesbitt Realty is trusted by both local, out-of-state, and foreign property owners. Real estate investors and trusts hire us, but most of our clients are everyday people from all walks of life. They simply need some assistance with managing their property in {Location_Name}. While we do have some wealthy clients who have no mortgages on their properties, the majority of our clients are known as "mortgage landlords". "Mortgage landlords" need rental income in order to pay off mortgages. A number of
these homeowners are the average people and this is the single largest investment interest that they have committed to in their lives.
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Nesbitt Realty agents are full-time, local, knowledgeable long-time residents.
Obtaining a professional property manager is a good first step. Professional property managers charge 7 percent to 10 percent of the monthly rent in many areas. Nesbitt Realty is often cheaper than our competitors.
Current rents may not be high enough to cover carrying charges, including mortgage, taxes, and insurance. Nevertheless, renting out the property may still make sense if property values rise in the next few years.
Offering a 12-month lease that converts to month-to-month is a good idea, if the owners are considering selling eventually. Include language in the lease that allows a real estate professional to show the home to potential buyers with 24 hours’ notice to tenants.
For more information or to set up an appointment call Julie at
(703)765-0300.