Should You Rent Your Home, or Sell It?

Should You Rent Your Home, or Sell It?

  • Dennis Hartley
  • 02/9/23

Lately, some homeowners looking toward a move are considering a rental service like Airbnb as an attractive alternative to selling.

It’s wise to consider some of the challenges this option – and any owner-tenant arrangement – demands.

  • Most rental platforms that advertise your property have specific owner requirements that cost time and materials on your part, to even get initially set up.
  • Can you effectively and successfully screen tenants? Be available 24-7 to handle repairs and issues with your property or have an expert, reliable team to help with this? Are you willing to pay a third party to take care of these responsibilities for you?
  • There are common risks of hosting strangers, i.e., rude behavior, theft or damaged property, complaints from neighbors, and potential regulatory violations depending on your location.
  • Finally, short-term rental homes ought to be conveniently close to attractions, and cater to a variety of travellers. Your home may or may not be the best match for travellers, and this will impact your rental income.

There is a lot to consider before taking the leap to convert your home into a short-term rental. If you aren’t ready for the work it takes, it could be wiser to sell instead.

Work With Dennis

With over three decades of experience as a top ranked agent, he has the answer to any real estate question. He has helped nearly 1000 families buy or sell real estate. His emphasis on customer service has resulted in numerous sales awards and many satisfied clients.