It’s no secret the pandemic was hell on landlords across the U.S. as many decided selling rental properties was easier than battling troubled tenants, regulations and increasing expenses. Many had to go months without income and are just now recovering.
And in an era, where many people flocked to do HGTV-style buys, flips and renovations for money and love, there’s been a sizable fallout as realities of being a landlord have surfaced repeatedly. In short, the romance of little green houses on the board trumped due diligence. Advice site Money Under 30 says there are serious considerations for any property owner considering rental houses, namely:
- Getting Rental Properties Financed
- Getting adequate insurance
- Ongoing repairs and maintenance
- Charging high-enough rents to break even
And those are just the basic money considerations. Look further into the job of finding/vetting/keeping tenants, and the process and paperwork (although much is online these days) for making sure your assets (and sanity) are covered, and you can see how vexing it all is.
David Metts of Welcome Home Holdings reports that the number of rental house owners asking for assessments and buy-out offers is growing.
“You just have to understand that if you own less than five houses, it’s not a business, it’s a headache,” says Metts.
There are market considerations in 2022 as well. Values are continuing up and house sales are raging, even as interest rates climb, but financial experts are now questioning how long the bubble will last. Also under review is the record high homeowners equity levels across the U.S. In the DFW area alone, rampant tax hikes (via county-inflated property values) have fueled the market frenzy. With tax and materials rates (repairs/renovations/maintenance) outpacing rental rates, many rental houses are worth more “sold” than kept as income producers.
So given market considerations in 2022 what’s the next logical step?
For many one-three house owners, the choices are pretty simple:
- Tighten up all the business processes to boost profit and security
- Find a solid property management company for a portion of the revenue
- Sell the houses while values are highest
At Welcome Home, we have seen market swings, but never more favorable conditions for selling at a profit, especially with as-is, rental houses, and inherited properties. Selling rental properties, even with tenants under contract, has never been easier because of our simple three-step process. Owners get fair, market-value offers, straight answers and $5,000 earnest money guaranteed with contract. David and Terry close in 10 days or less and there are no gimmicks or third parties to slow down the finances.
“We have been in this area and this business for over 25 years,” says Metts. We are not interested in quick bucks or taking advantage of folks … honesty and integrity aren’t our catchphrases, it’s how we live and it’s our way of doing business.”
Owners interested in a fair assessment and honest conversation can call David or Terry at (817) 826-9648 24/7, or fill in the inquiry form on the home page for same-day service.
