DUFFY Realty

How Rentals Can Impact Your New Home

Rentals?

Institutional Buyers are purchasing homes as rentals. They verify there are no HOA rental restrictions before they make a purchase. They may choose to sell the property or they may choose to rent it out.

Short-term Rentals like AirBnB or VRBO have also become a very popular choice for a lot of owners, especially in certain locations.

Rental Negatives To Consider:

  • Can cause property values to stagnate or drop
  • Renters may not care for the home the same as an owner.
  • Landlords will only do the minimum for repairs and maintenance
  • AirBnB/VRBO rentals can result in large groups, parties or noise issues
  • An HOA with no rental restrictions can lose any “bite” they may have if the number of owner occupants is fewer than landlords.
  • If you live in a condominium and the number of tenants exceeds the owners it can affect a new buyer’s ability to get a loan to purchase here.

What Can You Do?

  • Verify if there are any HOA Rental Restrictions
  • Ask the HOA what the current tenant occupancy rate is?
  • Ask the neighbors about renters on the street.
  • Search sites like AirBnB & VRBO to see if there are any in the immediate area that may affect you.
  • Search Zillow to see previous or current rentals in the neighborhood.

Contractor playbook

What most buyers do vs. how a DUFFY buyer handles it.

Most buyers ask for a verbal or vague text estimate.

DUFFY buyers demand a formal itemized PDF quote broken down by labor, materials, scope, and timing.

A formal PDF estimate can support your Amendment to Address Defects and gives the seller less room to argue the price.

Most buyers use a contractor suggested by the seller or listing agent.

DUFFY buyers hire an independent professional from the DUFFY Preferred Vendor Shortlist.

The seller's contractor has incentive to make the repair sound cheap and minor. Your contractor protects your equity.

Most buyers agree to a massive upfront deposit just to get an estimate on paper.

DUFFY buyers work with reputable trades who provide free or low-cost diagnostic quotes for pending buyers.

This keeps your out-of-pocket cash protected before you officially own the home.