Selling Your House? Make Serious Money While You Wait for a Buyer
Posted by Veronica Morozova on
Selling a property can be exciting, exhausting, and extremely stressful - often in that very order. Once you've completed the gruelling process of preparing your house for a sale - all that repainting, lawn mowing and decluttering sure takes its toll - and have spoken to every estate agent in your vicinity about maximising its value, you finally feel like you can breathe a sigh of relief because, well, your house is finally listed on Rightmove! Nothing can possibly go wrong... or can it?
Here's the thing. What nobody tells you is how anticlimactic and, well, frankly quite boring, the process of waiting for That One Truly Committed Buyer to come forwards really is. But the real kicker is that an empty, tenant-free brings you absolutely no money. In fact, it can actually bring you losses.
And so, week three, four and five go by. There's a couple of viewings scattered here and there, but it's beginning to look like this house is going to be on the market for far longer than you had hoped.
Now, this is the interesting part. You have two options:
1. Continue to wait for months on end until the sale goes through.
2. Monetise on your empty property.
Short-term rentals are more popular than ever before. The sharing economy has taken the world by storm, and demand for a more customised travel experience means that cookie-cutter hotels are increasingly less appealing. Plus, there are a myriad channels for winning short-let occupancy, from Airbnb to HomeAway.
You, too, can find a happy occupant to fill a property awaiting its sale and benefit from the rental yield.
Step one to unlocking this value would be to make sure it's up to short-term rental standards.