If your home has been sitting on the market without offers that meet your expectations, you may be asking yourself: what now? For many homeowners, that leads to a new question—should I rent it out instead?
This scenario has a name in the real estate industry: the "accidental landlord." According to Yahoo Finance, accidental landlords are homeowners who couldn’t secure their desired sale price, so they decide to rent out their property until market conditions improve.
Why More Homeowners Are Becoming Accidental Landlords
Today, more and more people are finding themselves in this position. Business Insider notes that higher borrowing rates have slowed home sales and created a new wave of reluctant landlords. Instead of lowering their price, some sellers choose to rent while waiting for better market conditions.
But before making that decision, remember this: becoming a landlord wasn’t your original plan. Renting out a home comes with responsibilities and costs that many don’t anticipate.
Questions To Ask Before Renting Out Your Home
1. Does Your Home Have Rental Potential?
Not every home is ideal for renting. Ask yourself:
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Are you moving out of the area (like Tacoma, Puyallup, or Auburn), making long-distance management difficult?
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Does your property need repairs before it’s tenant-ready?
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Is your neighborhood—whether in Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, or Bonney Lake—one that attracts renters?
If the answer to any of these is no, selling may be the smarter path.
2. Are You Prepared To Be a Landlord?
While renting can sound like easy passive income, the reality is often different. Landlords face late-night maintenance calls, missed payments, and repair costs between tenants. Without funds set aside, this can quickly become overwhelming.
3. Have You Considered the True Costs?
Hidden expenses can add up, including:
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Higher insurance premiums
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Property management fees
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Maintenance and tenant placement costs
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Mortgage payments during vacancy periods
The Bottom Line
Renting out your unsold home might work for some, but if you’re considering it only because your listing didn’t gain traction, it may be time to revisit your selling strategy. A skilled real estate professional can help adjust your pricing and marketing approach so you attract the right buyers.
If you’re unsure whether to sell or rent, I can guide you through the best options for your unique situation. Learn more about navigating today’s market at Your Real Estate Story.
