Home Selling in Manayunk>Question Details

CelticBhoy18, Home Buyer in 19127

Manayunk- Sell or Rent It Out?

Asked by CelticBhoy18, 19127 Tue Jun 10, 2014

I have a house in Manayunk that is one of the many in its copious Inventory. There are a lot of showings, but even the most minute details are getting picked apart by potential buyers despite doing everything right for staging purposes due to the competition. It seems however, rents are increasing and filling rentals are not much of a problem (unless there's something I don't know about). My guess on the lack of potential buyers is the people most interested are in the 22-30 age bracket and highly indebted but working and making decent money yet still unqualified to buy. In other words -"Pent up demand." I have to move soon, but not at this second. That said should I just say screw it and be a landlord or wait it out for a buyer?

Off topic will Venice Island completion help with demand for rents/sales?

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Another thing to consider is it is typically easier to sell when it is owner occupied than tenant occupied. When it is tenant occupied you are required to give them more notice for showings and the property is not always presented in showing condition every time as tenants are not personally invested in the home selling.

Doesn't sound like you really WANT to be a landlord, and with the older house needing more maintenance I would say try to stick it out and wait for a buyer.

Julie E. Kimmel

RE/MAX Home Experts
530 S 2nd St Ste 109
Philadelphia, PA 19147
(215) 467-2892 Office & Fax
(215) 704-5577 Cell
JulieEKimmel@gmail.com
0 votes Thank Flag Link Sun Feb 1, 2015
It sounds like you will not want to play landlord and property management companies will hurt your bottom line.

I suggest getting the most for your house as possible and move on to the next investment.
0 votes Thank Flag Link Sat Aug 23, 2014
If you can afford to keep the property and rent it, that is generally a more desirable position to be in. It really depends on what you are looking to get out of the property.

Sandra
--
Sandra Hazeltine, REALTORĀ®
BHHS Fox & Roach, RealtorsĀ®
Center City-Rittenhouse Hotel
210 West Rittenhouse Square
Suite 406
Philadelphia, PA 19103
Mobile: 609.618.4119
Direct: 215.875.3357
Office: 215.546.0550
Fax: 215.546.9781
sandra.hazeltine@foxroach.com
0 votes Thank Flag Link Tue Jun 10, 2014
I got approved to keep both the Manayunk house and one in the suburbs, but in order for dealing with the issues of tenants to be worth it, I need to clear a small amount each month for repairs. It's not exactly a new house. Ideally, I would like to sell it but not having to bring money to the table at closing which I'm very close to being at. Reason being I'm not the handiest person and with my job, not so eager to take 3 AM calls.
Flag Tue Jun 10, 2014
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