Accidental landlords
Options for property owners caught in the downturn.
If 2 million or more homeowners will end up in foreclosure during the housing downturn, as some have estimated, still others will find themselves in something more like purgatory.
Many owners of homes and condominiums can't get what they see as a fair price for their property and instead have decided to wait out the market and rent their properties to tenants. And in cities across the U.S., developments originally conceived as condominiums are instead being marketed as apartments.
It's perhaps inevitable that the ranks of accidental, reluctant or inadvertent landlords will grow, as more would-be sellers decide to hold out for better prices.
In this three-part special report, Inman News explores opportunities and challenges for these accidental landlords. The series explores opportunities for real estate agents to generate fees from property management, as well as the online tools that are available to help market and manage rentals.
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