Accidental Property Managers
May Pose Problems for Brokerages
The phenomenon of "accidental landlords" has been with us for a while. Last month’s Wall Street Journal article (Dec. 12, 2011) on the topic didn’t uncover anything new. Time Magazine had written about it as early as 2009. In both cases, "accidental landlord" referred primarily to homeowners who had become landlords as a result of (i) either a need to move or a need for
cash flow, and (ii) an inability to sell in this continuing depressed real estate market.
The problem for Random Residence managers now becomes that of how to offer your home that is actual filled.
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