Rising Real Estate Trend: 'Accidental Landlords'
Newser • • business
Key Points:
- A growing number of homeowners, termed "accidental landlords" by Zillow, are converting unsold homes into rentals after struggling to sell, with 2.3% of rental listings recently having been on the market.
- This trend is most prevalent in slower housing markets with frequent price cuts, particularly in Denver, Houston, Austin, San Antonio, and Portland, while it is less common in Northeast and Midwest cities like Providence, Boston, and New York.
- Homeowners are choosing to rent to cover mortgage costs locked in at lower rates, despite facing challenges such as maintenance and management fees, leading to frustration among some landlords.
- Zillow's analysis suggests that the rise of accidental landlords indicates homeowners are generally not under financial pressure to sell, and the company forecasts home values to increase in 2026.
