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“Accidental Landlords” Seeking to Sell Rental Property

In recent years, some underwater owners have opted to rent their property to avoid the loss of equity and/or impact on credit of a short-sale. With prices rising, these “accidental landlords” are now in a better position to sell their rental properties. Although construction of new homes will make the biggest dent on easing the inventory crunch, the sale of these properties can help to bring additional properties to the market. Based on information presented in the July RCI survey, 21 percent of REALTORS® reporting working with an “accidental landlord” to sell their rental property.
[Source: July REALTORS® Confidence Index]

Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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