Why Now A good time to sell my Income property!

Why Now A good time to sell my Income property!

Why Now is a good time to sell my income property. A federal ban on evictions is putting the squeeze on smaller landlords who are unable to directly access COVID rental relief funds, and some are starting to sell their income property to recoup losses. Hi, I’m Rich Barnes, owner/broker of Realty Experts in West Allis, Wisconsin, 53214. And the Centers for Disease Control and Prevention on Monday extended the eviction ban until the end of June, as the Biden administration proceeds with the next phase of its plan to stamp out the Coronavirus. The program is intended to keep renters safe, yet while large multi-family rental companies can offer concessions and weather some missed payments, smaller landlords often cannot. 60% of single family rental homeowners who are owed back rent should have received the necessary paperwork from their tenants as required by the CDC. With so many still waiting for relief however, about 1/3 of landlords said they’ll be forced to tighten standards when they evaluate in future rental applications. And 11% said they have already been forced to sell at least one of their property to recoup the losses. In the current housing market which has seen very high demand, and a record low number of homes for sale, homes listed by landlords will likely sell to owner occupants. The pandemic has forced many income property owners to sell from lack of rent. It is a good time to sell your property, probably so, if you had enough of dealing with tenants and the housing inventory in short supply, you may find the time to sell your rental property is now. If you have any questions, feel free to reach out, and we’re local income property experts, and we’re always here to help. As always, you can relyonrich.com. Thanks, and you have a great day.

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