The Pros And Cons Of Renting Your Listed Maine Home.
You own a home in Maine that’s for sale and thought should you rent it or not?
Until the property in Maine sells. It all depends on the renter. The care, condition they leave your property in can make or break a sale.
I have seen Maine home renters that do a better job that the owners, sellers of the property.
That run a tip top sharp operation with plenty of care and respect. That pay their rent like clockwork and do nothing to interfere with the Maine home sale process.
In fact one lady home renter helped me sell three Maine houses.
Little advanced notice to show the house needed even though we try very hard for at least a day’s warning or more if possible.
She came as a property package renter. With her brother who was a heating / plumbing expert trained for a day job. Her Dad who manicured the grounds, mowed, trimmed like an upscale swanky, elite country club resort operator. Plowed the same “careful to not disturb the property” landscape. Make it better attitude, approach, respectfor his daughter’s rental house.
The renter of the Maine home helps subsidize the expenses the seller has if the place is left empty.
Vacant homes in Maine have a quick occupancy. Can be shown on the drop of a hat. But with real full motion video of Maine real estate done right, you can have that luxury round the clock. No matter where the buyer is on the planet, solar system. Empty for too long Maine homes make insurance companies
It starts with asking the Maine home renter lots of questions.
A good renter of a Maine home for sale realizes the place needs to sell. That the renter “owns”,has rights to the place 30 days at a time but is just the renter. Don’t give year’s leases because buyers don’t purchaser that long range. Until the real buyer, new owner comes along month to month works fine for the person that does not want long term too. To rent monthly until the real estate sale process unfolds. Which comes with ups, downs, twists and turns to get to the home sale closing table. But in the meantime, the place is being rented until the time for a Maine real estate closing. Which can go smoothly. Be a win win situation for everyone involved in the list, market, sell process of a Maine home.
But when it goes bad this is what can happen with the Maine home rental dog and pony.
Instead of a tenant who works for a living and is gone all day long, using the place as a roof over his head to sleep nights only, your Maine home becomes a day care center. Not the good 9-5 kind.
One used and abused round the clock.Only 23 cats live here too and pretty much on their own. To fend for themselves. Like the kids.
Like a local YMCA for every Tom, Dick and Harry to drift in and out.
Who don’t share your care and respect for the Maine home. Sunstance abuses runs rampant. The Maine home rented out treated like a flop house.
A place to party hardy. Transact drug dealswith in and out traffic coming and going. Just ask the neighbors who see it all and wonder does the home owner know? In time you will.
Everyone hanging out at the place all day parked helter skelter around the hidden, broken beer, wine bottles on the hayfield former lawn.
Hooping it up, laughing, crying, fighting into the wee hours. Not just weekends. Every day is for some that’s only disability is lazy. Causing police complaints to be called in and your former mild manner Maine hoime location. The one you really want, need, should be selling.
But are out of the loop, out of state and renting, waiting. Hoping and praying. As the residence goes down hill, becomes a sinking ship and along with your credit rating at the same time for lack of Maine home rental payments.
In fact, they would have to move and the fun of a free place to trash would stop. And they would have to move.
So while showing the cellar to Dad and explaining the heating, plumbing details the renter is bending Mom’s ear in the kitchen.
Letting her in on a little secret. Her kids are always sick but maybe it’s not the water.
Rolling her eyes and saying she think’s the place is haunted. And warning, suggesting forcible to not get too excited about the place. Because sure as shootin’ she and her boyfriend, one of them, is buying the place in a few months. “No, they are not” on the buying the place because their credit is like swiss cheese full of holes. Sky high debt ratios. A few months is not going to change, improve that either.
The renter who does this “get into a place by promising the moon” as the postage child for good tenants.
His performance would win an Emmy, Golden Globe and a slew of other awards. He’s that good, does this for a living. Get in, drag out all the legal procedures to get him out. For lack of rental income and all the wave of destruction, garbage, debris piling up that the Maine home owner will inherit once the renter is made to forcibly leave.
So should I rent my Maine home while selling? Yes to a good responsible tenant who does minimal if any wear and tear and pays his rent. Understands the place is for sale and is not an impediment to getting it shown, sold.
No if you get a giant posse of property squatters using every square inch of the place round the clock.
Making the police scanner top ten broadcast for “One Atom 12, approach with caution, quell the disturbance” at your Maine home address.
Night after night. Wearing it out like a Disney ride attraction. Not taking care of the house lawn, outside yard work, weekly garbage or contributing a dime in paying any of the rent. To offset your Maine home mortgage that causes a wallet or purse strain of the monthly budget.
207.532.6573 | [email protected] | MOOERS REALTY 69 North St Houlton ME 04730