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I Caution You Not to Rent Out Your Home

Today’s topic is about renting out your home—specifically, if your house didn’t sell the first time, why I would caution you against renting it out.

If you already own multiple houses or your desire is to have long-term hold assets, then this conversation is not for you. If you already have experience in property management and have one or two investment homes and you’re wanting to acquire more, that’s excellent, and you don’t need today’s message.

    We have had clients come to us with regrets about renting out the house.

This discussion is for sellers out there who listed with an agent hoping to sell their property, but it didn’t sell. When these sellers speak to us, they’re usually very discouraged. They sometimes say they aren’t sure they want to re-list and may try renting out their home and waiting a year or two before trying to list again and hopefully get more money. I will tell you now, I have never seen that happen. In fact, the opposite has happened.

We have had clients come to us with regrets about renting out the house because renters may have kids and pets and won’t have the same respect for that property as you, the owner. It was your home, but it isn’t their home; it’s a temporary living arrangement for them. This commonly leads to you needing to repaint, steam the carpets (maybe even replacing them), and something’s going to give out, like the A/C.

By the end of that first year of having tenants, if you’re in San Antonio, there’s only an average appreciation rate of 3% to 4%. I can assure you, the money you would have made is completely gone either from vacancy when there are no tenants or from needing to make improvements to list it again.

If you find yourself in this situation, reach out by phone or email. Let us walk you through your options. Please pause and speak to an agent before jumping into renting out your home. It will likely just cost you time, irritation, and money.

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Alexis Weigand

Recognized industry-wide as a person of influence, Alexis Weigand is renowned for her passion, leadership and steadfast commitment to consistently producing a high level of achievement. A native Texan from Boerne, Alexis is also widely known for her energy, professionalism, and knowledge of the San Antonio and Hill Country Luxury real estate market. Over thirteen years as a top-producing Broker in San Antonio Alexis Weigand has earned a reputation as the go-to luxury Realtor in the beautiful Texas Hill Country. Alexis is an experienced bilingual Real Estate broker who has managed hundreds of transactions for both domestic and international clients alike. Alexis began her career in Austin in 2005 and then joined forces with her father as an associate broker at W.K. Shumpes Company in Boerne. When Keller Williams opened their first ever luxury real estate office, Alexis saw the opportunity to partner with the #1 real estate agency in North America as a way to exponentially grow and expand her business and better serve her clients. Since joining KWLI, the Alexis Weigand Real Estate Group has continuously outpaced and negotiated the market, receiving multiple awards and recognitions over the years including No.1 Agent in Boerne and Fair Oaks Ranch for fastest home sales, KW Top Team Awardee, No. 1 KW Listing Agent per number of homes sold and volume sold for two consecutive years, and Platinum Top 50 Winner to name a few. Alexis largely credits this success to a unique approach to a team concept where each team member is extremely efficient by focusing on their individualized areas of expertise. For her, real estate is about the people AWRE serves – and helping them achieve their goals and build wealth through real estate. Alexis’ greatest passion is developing leaders and teaching. She can regularly be found in the classroom educating new and seasoned real estate agents. Always wanting to be remembered most as someone who made things better. Alexis strives to keep learning each day by committing herself and her team members to high-level business coaching and training programs to stay ahead of the curve. When Alexis is not championing the San Antonio Luxury market, she's likely to be somewhere outdoors with her husband Chris and their three children, Carter, Cade, and Elise. As an avid business reader, there's a good chance you'll also find her at the gym, working out and listening to a good audiobook about leadership! Specialties: - ALHS, Accredited Luxury Home Specialist Certifications: - Broker - Broker Associate - CRS®, Certified Residential Specialist® - GRI, Graduate REALTOR® Institute - CLHMS, Certified Luxury Home Marketing Specialist - Institute for Luxury Home Marketing - Texas Realtors Leadership Program - IMSD, Internet Marketing Specialist Designation Awards: - Centurion Award Winner 2014-2019 - 2018 Top Team - Keller Williams Realty City View - 2018 Platinum Award - Keller Williams Realty City View - 2018 Top Growth Partner - Keller Williams Realty City View Industry Organizations: - NAR, National Association of Realtors - TAR, Texas Association of Realtors - SABOR, San Antonio Board of Realtors - NBCLAR, New Braunfels/Canyon Lake Association of REALTORS - REALTORS® Land Institute (RLI) Council - CRS, Council of Certified Residential Specialists Community Involvement Types: - Local: Organization, Association or Club - National: Organization, Association or Club Community Involvement Organizations: - Dallas Children's Advocacy Center - Habitat for Humanity, ALC - National Multiple Sclerosis Society - Congregation Rodfei Sholom of San Antonio Texas - American Lung Association - Children's Hospital of San Antonio - Leukemia & Lymphoma Society - American Heart Association - 100 Women of South Texas - SA2020 - Product Council of Urban Land - SNIPSA - Homes for Our Troops - MD Anderson Cancer Center - Ryan's Well Foundation

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