According to Zillow, 25% of survey respondents with plans to move in the next three years would also consider renting out their current home rather than selling. This group is called "accidental landlords." As a real estate professional, are you:
- Ready with rental rate information that could help a reluctant buyer decide to buy a new home and lease out their old one?
- Prepared to discuss this option with a reluctant seller, who might list if they had a "Plan B" in case their home did not sell?
- Set up to broker tenant prospects and charge a fair fee for the service? Fees typically range from one to two months' rent. It's "small money" but it adds up pretty quickly.
- Open to the idea of starting a single-family property management business that will generate year-round steady income? People have to live somewhere, don't they? If they aren't buying homes, they are renting something. Who is managing all that business?
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