Davidson Realty, Inc.

Is Renting the Answer to Real Estate Woes?

February 15, 2010

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Posted by in Rentals

Elsie Evans (cropped)Recently I was having a conversation with friends concerning the advantages of renting their property.  After we were finished with our discussion, I decided it might be worthwhile to pass along the information.

My friends have two houses. They live in one and the other is up for sale. However, it is not selling, so they are carrying two mortgages.  At this point, they are not behind in either of their mortgages, but it is a major struggle to stay current and it is getting harder every month to make both mortgage payments. 

I asked them why they don’t rent the house that they’re not living in to help defray their cost. The rental market is absolutely excellent right now and I believe it will remain that way for a long time.  They said their mortgage is $2,000 a month and they can only get about $1,500 if they rent it. Read more

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