5 Risks of Renting A Parent’s Vacant Springfield / Chicopee Home. Sell, Don’t Rent!

5 Risks of Renting A Parent’s Vacant Springfield / Chicopee Home… Sell Don’t Rent!

Your parents have finally reached the age that requires special care and their house is sitting empty. Tempting to rent it out for some additional income, right?

Before you decide to rent, read this post about the risks involved with renting. You might want to think again and consider other options.

1. Bad Tenants

The bane of all landlords, bad tenants can be a pain in the neck and a pain in the pocketbook. Unpaid rent, unpaid utilities, property neglect or destruction add up to a loss in revenue and an increase in out-of-pocket cash. Bad actors engaging in disruptive or criminal behavior anger neighbors and ruin the value of the neighborhood. You’re risking not only missing out on that extra income you were counting on, but the overall value of the home as well.

2. Destroyed House

You can’t believe what some tenants do to a rental. With no regard for the property and no respect to the owners, they can trash the place beyond belief. The costs of renovation and repair can be exorbitant. Do you have a lot of extra cash lying around that you can shell out to put the property back in order? Is that a risk you are prepared to take?

3. Overhead Costs

Don’t overlook the fact that acting as a landlord comes with costs. You still have property taxes to pay. Ongoing costs of maintenance and repairs add up. Do you have adequate cash flow on hand to cover these ongoing costs?

4. Vacancies

Every day a house is vacant means another day the property is generating zero income. It also means that you will bear the expense of getting the place ready for new tenants and advertising for new tenants, not to mention the time invested to show the property and screen prospective renters.

5. Evictions

Evictions, every landlord’s nightmare, are a real pain. With tenant rights the way they are today, it is a wonder anyone ever does get evicted. Have you looked into some of the conditions pertaining to eviction laws in areas like Portland, Oregon? Besides having to deal with all the legal red tape and the frustrations of feeling like you can’t control the situation, you have to bear the risk that angry tenants will trash the place as a way to get even.

The above risks facing all landlords are the reasons we say SELL, DON’T RENT. Unless you are very experienced in the landlord business and have the cash flow needed to cover unforeseen expenses, you run the added risk of getting financially in over your head.

A simple way to generate additional income from the property is to sell the house. The cash you make from a home sale can be invested in safe, secure assets that don’t involve all the risks of renting a home.

You can sell the parent’s Springfield home fast with no money out of pocket through a house cash sale. You can sell the house in “as is” condition, liquidate practically overnight and not have to confront the risks associated with being a landlord.

Would you rather cash out the equity or risk being a landlord?

To sell your Springfield / Chicopee / Agawam house fast for cash call Hampden Homebuyers now at 413-248-SELL, or fill out our “Sell Your House fast as-is” form to get the ball rolling quickly.

 

37 Knollwood Circle Holyoke, Renovated Home For Sale

We are cranking out beautiful renovated homes left and right here at Hampden Homebuyers.

Here is a look at a great 3 bedroom ranch home that we bought and renovated. This home is located in an awesome neighborhood in Holyoke.

This great home features new electric, new kitchen, new bath, vinyl siding, vinyl windows, newer roof, fresh paint and new flooring throughout.

Here is a look at some of the before and after photos: (click on the thumbnail to bring up the larger images.)

We Buy Houses in Springfield, Chicopee and throughout Western MA

We Buy Houses in Western MA in the Greater Springfield area, Chicopee and Holyoke

 

We buy houses in the Greater Springfield MA area. Need to sell your house fast? We can help! We buy houses in any condition, price range, or situation.
If you need to sell your house fast for any reason; maybe your house needs too much repair work, maybe you have bad tenants, maybe you have inherited a home and do not have the time or resources to fix it up to sell, we can help.  We buy houses from people in situations just like yours in almost any area, condition or price range.
We specialize in finding creative solutions to real estate problems that others won’t touch. We pay all cash, purchase your home as-is, and can close very quickly so you can sell your  house immediately! We will handle all of the paperwork, make all the arrangements and close within a few days if necessary.  You’ll get a quick sale with no hassles, so you can put your worries behind you.  We work with Sellers who need to sell or want to sell, but do not want to wait six months to market and sell, repair and renovate their home, pay real estate commissions, or wait for an approved buyer.
We buy houses in Springfield, Chicopee, Agawam, Holyoke, South Hadley, Ludlow, East Longmeadow and throughout Western MA.
Call Hampden Homebuyers at 413-248-SELL or 413-241-6859……. or complete our quick and easy Sell your House form on our website to get the ball rolling: Sell Your House FAST