Should I Rent My Waldorf MD House if I Can’t Sell It?
Skip Young - Waldorf MD Realtor, Veteran, Re/max 100, Caruso Homes
To start if you cannot sell your home then the first step is to look closer at why your home is not selling. Is it in a bad location. Is it not appealing to your buyers in Waldorf MD. Is the house over priced? These are the first questions I would have to answer before determining if renting is a better option.
There has been a lot written about how buying a Waldorf MD home is less expensive than renting one in Waldorf MD and most parts of the country. Rents are skyrocketing and homes are still at great prices. These two situations are also causing some Southern Maryland sellers to consider renting their home instead of selling it. After all, a homeowner can get great rental income now and perhaps wait until house values increase even further before selling.
This logic makes sense in some cases. There is a strong belief that Waldorf MD residential real estate agent Skip Young is a great investment right now. However, if you have no desire to actually become an educated investor in this sector, you may be headed for more trouble than you were looking for.
Before renting your home, you should answer the following questions to make sure this is the right course of action for you and your family.
10 Questions to ask BEFORE renting your home.
1. How will you respond if your tenant says they can’t afford to pay the rent this month because of more pressing obligations? (This happens most often during holiday season and back-to-school time when families with children have extra expenses).
This is a point in a rental when you need to make sure you can make the investment. In other words you get a security deposit from the Waldorf MD rental. So making sure you have at least 3 months of reserves before you buy the Waldorf MD Investment or decide to up grade to a Caruso Homes Luxury home and rent out your previous home in Waldorf MD.
2. Because of the economy, many homeowners cannot make their mortgage payment. What percentage of tenants do you think cannot afford to pay their rent?
With bad credit and a hefty down payment being the part of Southern Marylands new Real Estate market their are a lot more Renters then before. Between the car payment, groceries and other house hold monthly bills if they have a steady job you should not have to worry about getting paid your rent. If you rent to a government or a military you should not have to worry either. Make sure you hire Skip Young a local Waldorf MD Realtor certified in relocating the Military to the Maryland area.
3. Have you interviewed experienced eviction attorneys in case a challenge does arise?
The best resource your going to find in Waldorf MD for eviction of a rental tenant is at the Charles County Court House. You can fill your eviction there to be served to the tenant giving them 30 days notice.
4. Have you talked to your insurance company about a possible increase in premiums as liability is greater in a non-owner occupied home? Will you allow pets? Cats? Dogs? How big a dog?
This choice when renting in Waldorf MD is a choice you have to make. Depending on the size of the animal and the how much security deposit you collect to clean carpets or any damage the pet may have done. It up to you.
5. How will you actually collect the rent? By mail? In person?
You can always hire a rental management company but its also best to stop by your investment in Waldorf MD to see if they are keeping the property up. You can set scheduled walk throughs and receive your rent through the mail. You can even receive the money electronically now.
6. Repairs are part of being a landlord?
Yes when you take on a Waldorf MD Property as a Land Lord it is your responsibility to take care of the up keep of the home. It is your nest egg and you could profit generously off of it.
7. Who will take tenant calls when necessary repairs come up?
You can set up an agreement with the tenant prior to signing the lease and make sure its in the lease who is responsible for setting up the repair appointments.
8. Do you have a list of crafts people readily available to handle these repairs?
Making sure you have licensed contractors to handle any situation is a great decision when you look at deciding on how to handle the repairs.
9. How often will you do a physical inspection of the property?
Make sure you set up the lease that explains how often you will be performing walk throughs.
10. Will you alert your current neighbors that you are renting the house?
If you have a rental in a community its always great to get to know your neighbors. They live their and keep you posted on lawn maintenance and other issues that may arise from the home. Waldorf MD home are close together so are the relationships.
Bottom Line
Again, renting out residential real estate in Waldorf MD is historically a great investment. However, it is not without its challenges. Make sure you have decided to rent the house because you want to be an investor, not because you are hoping to get a few extra dollars by postponing a sale.
749 OLD HERALD HARBOR RD, CROWNSVILLE, MD 21032 $646,639 - Caruso Homes
- Published on June 15, 2018
- Edit article
- View stats
Skip Young
Remax 100 | Caruso Homes | Certified Military Relocator| DJ Smalls | Bringing my Elite Military Skills to the public.134 articles
Skip Young - Waldorf MD Realtor, Veteran, Re/max 100, Caruso Homes
To Be Built on this lot, 9 Months New Kingsport 3,516 Sq Ft on this 5.200 acre lot in Crownsville MD. To Be Built by Caruso Homes On Your Lot Division. Different Elevations to choose from. This package offers 3 level living with basement, 4 Bedroom, 2.5 Baths 2 car Garage, Siding Standard, Brick if you choose up-grade, Kitchen with Stainless Steel Appliances. With the five acre lot it will allow you to build a much larger Kingsport or anyone of our many Estate Homes.
The Anne Arundel County Department of Recreation and Parks maintains the Generals Highway Corridor Park in Crownsville. Facilities include a nature trail and playing fields.[5]
The Eisenhower Golf Course was Anne Arundel County's first public golf course, built in 1969. The 6,659-yard, 18-hole course was designed by golf architect Ed Ault on more than 220 acres (0.89 km2; 0.34 sq mi).[6]
The Bacon Ridge Natural Area[7][8] is 630 acres of protected land, including forests and marshes, which is open to the public for hiking and nature observation. There is currently a 2.5 mile figure-eight trail accessible from the parking area off Hawkins Rd.[9] In the fall of 2016, a second phase of trails was created, adding 4.5+ miles to the trail.[10]
Local Schools for Crownsville:
Schools located in Crownsville and the surrounding area are:
- South Shore Elementary School (K through 5th grade) (Anne Arundel County Public School)
- Millersville Elementary (K through 5th grade) (Anne Arundel County Public School)
- Indian Creek School (Pre-K through 12th grade) (private)
- Mary E. Moss Academy (9th grade-10th grade, alternative high school) (Anne Arundel County Public Schools)
- Arundel High School (9th grade-12th grade) (Anne Arundel County Public Schools)
- Old Mill High School (9th grade-12th grade) (Anne Arundel County Public Schools)
3010 WESTBROOK LN, BOWIE, MD 20721 $945,200
1320 TONGUE COVE DRIVE, LUSBY MD 20657 $507,3195
Find out your Homes Value in Waldorf Maryland today by filling and submitting the form.
Whats my House Value in Waldorf Maryland?
If you are looking to Buy a Home in Southern Maryland, hire a Southern Maryland Realtor to help you find the Home you are looking for. In either Charles County, St. Mary’s County, Prince Georges County, Calvert County or Anne Arundel County, Finding and Hiring a local Realtor will help you find the right home for the right price. If its New Construction you need, your local Maryland Realtor can help you find the right Community or even find the right On Your Lot with Caruso Homes to build your Luxury Dream Home. What is your house value. Home value comes from the sales of other properties in your community that have sold over the last 6 months. When your house is prepared to go on the market, the value is calculated by Bedrooms, Bathrooms, Square Footage, Garage and Basement. Location also plays a part in the value of your home. If your in a good location, close to shopping, in a great school district, this will attract more potential buyers to your home. Making the home value much higher and also opening up the possibility of selling your home much faster. Taking also into the factor that when buying a New Luxury home from Caruso Home - On Your Lot, you have the opportunity to get your new home built for less than regular market value. Always give New Construction of your purchase a chance to see if you have the 7 - 9 months of build time. Caruso Homes also has communities all around Maryland that have homes that are 30 - 45 days out for you to purchase as well. Buying new will give you the value and equity to grow in your investment.
Need to know the value of your Waldorf MD?
Please leave a message below and I will return your homes valuation, time to sell on the market and any other information on your neighborhood statistics.
[optima_express_valuation_widget style="twoline"]
Skip Young Realtor
is rated 5 stars on Google based on 3 reviews
Zillow Reviews
04/10/2018 - williamrichmondinc
Sold a Single Family home in 2010 in Mechanicsville, MD.
- Local knowledge:
- Process expertise:
- Responsiveness:
- Negotiation skills:
I tried unsuccessfully for four years to sell my home in Mechanicsville. Two different real estate companies declined to renew my listing. Thank goodness for Skip Young. He never gave up and never made any excuses - and this was at a time when the real estate market was at it’s absolute worst. We had some offers that fell through at the last minute. Skip never wavered. His attitude was always positive. Thanks to Skip’s tenacity and professionalism my house sold and I got the fresh start I needed. Thank you Skip.
2004 Rookie of the Year Southern Maryland Calvert County
Skip Young
RE/MAX 100
Remax 100
10665 Stanhaven Place Suite 300
White Plains, MD 20695
(301) 535-8510
Mon-Sat 8am – 6pm
Skip Young | Caruso Homes | On Your Lot Division
Maryland Homes For Sale
Homes for Sale Indian Head MD 20640 | Homes for Sale La Plata MD 20646 | Homes for Sale Port Tobacco MD 20677 | Homes for Sale Bryans Road MD 20616 | Homes for Sale Bryantown MD 20617 | Homes for Sale Cobb Island MD 20625 | Homes for Sale Hughesville MD 20637 | Homes for Sale Pomfret MD 20675 | | Homes for Sale Waldorf MD 20601, 20602, 20603, 20604 | Homes for Sale Nanjemoy MD 20622 | Homes for Sale Newburg MD 20664 | Homes for Sale Welcome MD 20693 | Homes for Sale White Plains MD 20695 | 20640 | Homes for Sale in 20646 | Homes for Sale in 20677 | Homes for Sale in 20616 | Homes for Sale in 20617 | Homes for Sale in 20625 | Homes for Sale in 20637 | Homes for Sale 20675 | Homes for Sale20601, 20602, 20603, 20604 | Homes for Sale 20611 | Homes for Sale 20622 | Homes for Sale 20664 | Homes for Sale 20693 | Homes for Sale 20695
Infographic by KCM Crew
Buying or Selling Real Estate in Maryland, Servicing these area's.
Bowie, Waldorf, Coltons Point, Bryantown, Barstow, Solomons, Mechanicsville, Fort Washington, Brandywine, Oxon Hill, Annapolis, Aquasco, Dameron, Welcome, Cobb Island, Helen, Issue, Lexington Park, Hughesville, Lusby, Lothian, Temple Hills, Morganza, Callaway, Cheltenham, Piney Point, Port Tobacco, Bel Alton, Faulkner, White Plains, Pomfret, Benedict, Huntingtown, Marbury, Churchton, Greenbelt, Edgewater, Dowell, Port Republic, Ridge, Scotland, Clinton, Hollywood, Saint Inigoes, Prince Frederick, Bushwood, Tall Timbers, Odenton, Clements, Bryans Road, Valley Lee, Chesapeake Beach, Broomes Island, Leonardtown, Patuxent River, Saint Marys City, North Beach, Rock Point, California, Saint Leonard, Indian Head, Gambrills, Davidsonville, Crofton, Chaptico, La Plata, Mayo, Charlotte Hall, West River, Dunkirk, Deale, Abell, Owings, Nanjemoy, Park Hall, Harwood, Compton, Great Mills, Ironsides, Loveville, Sunderland, Tracys Landing, Mount Victoria, Drayden, Shady Side, Avenue