Staff Writer, Stacker

Content Writer, Stacker

Co-Founder & Head of Product

Belong Co-Founders

Editor in Chief

Should you rent out or sell your home? Get advice from a CPA, asset manager, and realtors to help you understand the pros and cons of this important decision.

Renting vs. Selling 101: The Homeowner’s Guide

Choosing whether to rent out or sell your home is an important decision with lasting impacts on your wealth. This eBook includes advice from a CPA, asset manager, and realtors to help you understand the pros and cons of all your options.

Financial decisions can be intimidating in the best of circumstances, but they are especially so when it comes to real estate. Whether you’re actively trying to grow your investment portfolio, moving out of your first home and sad to leave it behind, or have inherited a property — deciding the best path forward may seem daunting.

That’s why we’ve interviewed some of the brightest and most experienced real estate and financial planning experts to bring you this no-nonsense, easy-to-understand and quick-to-read guide to renting vs selling your home.

You can access a copy of “Renting vs. Selling 101: The Homeowner’s Guide” anytime at this link. Read it online, print it, or share it as you like. Inside, you’ll find practical advice and a list of questions to consider to help you better understand your options.

We cover the “must-knows” of several topic areas in this guide, including: 

Why you should consider both options before taking action

A rent vs. sell cheat sheet with specific pros and cons to consider

Detailed benefits and drawbacks of renting your property

Specific benefits and drawbacks of selling your property

Reflection questions about your unique financial decision to help you make the best long-term choice

Need One-on-One Help? Schedule a Complimentary Session

Belong is not a property management company. We’re the world’s first residential network, and we exist to combine rental home management with asset management, building wealth for our homeowners while taking great care of their residents.

As a service to current and potential Belong homeowners, we offer access to an asset manager’s advice for free. So if you’d rather not read our guide (or you just have more questions!), schedule some time to chat with us here and we’ll get you connected for a complimentary session with our asset manager. 

A highlight of Belong reviews by our community members when asked why do they love renting with Belong.

Discover a Love-Filled Post-Property Management World

Renting out your home as a homeowner can be challenging, both in terms of time and emotional strain. Choosing the right people to manage your valuable asset can be overwhelming. Belong offers a unique service that eliminates the traditional landlord-tenant dynamic, making renting a more pleasant experience for both homeowners and residents. We are dedicated to creating a magical renting experience.

We do so by constantly innovating on your behalf, resulting in industry-leading services such as:

Guaranteed rent (regardless of whether or not it’s paid by residents, aligning our incentives).

Financial innovations such as our ‘Split It’ program enable you, the homeowner, to finance any expense and manage cash flow on your terms.

Protection against evictions with up to $15,000 of coverage against legal fees.

A mobile app designed for homeowners and residents to manage their entire renting experience.

Real-time rental market data and interest signals from potential residents to help minimize vacancy and maximize rental value.

Don’t take our word for it, below you will find testimonials from members of our community who love renting with Belong. These stories embody the essence of the care and love that we strive to embody in our work.

See what people have to say about Belong on Zillow, Thumbtack, and on our google profiles in San Mateo, San Francisco, Miami Los Angeles, San Diego, Sacramento, and Oakland!

Belong is building a network; connecting people who own much-loved homes with those who want a place to belong. Together, we can put people first and change what it means to rent homes, leaving a lasting positive impact for generations to come.

You too can play a crucial role in our mission. If you know of homeowners who would love to have their homes managed by Belong, refer them to us and receive $1,000 for each successful referral*. Help us spread the love and be rewarded for your support. This is our heartfelt thank you to those who choose to share Belong with their network.

Join us in shaping the future of renting! We've created an affiliate program for individuals and groups who share our passion for a better rental experience. By spreading the word about Belong, you can help bring homeowners and renters together in a post-property management world that puts people first. Find out more about how you can get involved and make a positive impact in the industry.

Celebrating Belong Reviews in a Post Property Management World

Discover 3 ways to reduce rental vacancies and how Belong finds residents 66% faster than average.

3 Ways To Reduce Rental Property Vacancies

Long-term rental home vacancies can be a costly problem for homeowners and property investors. A vacant rental means lost income, and often homeowners are unsure why they are unable to find great residents for their home. In this article, we will explore three practical strategies for minimizing long-term rental home vacancies and maximizing your rental income.

Happy residents are more likely to renew their leases, which can help reduce vacancies. If you’re self-managing a rental property, their experience will be entirely up to how you respond to them and how you deal with any issues that arise. To keep your residents happy and ensure they feel at home, you’ll need to have solid communication skills and be contactable at all times to respond to resident’s needs and concerns. 

If you have the help of a property manager, make sure they have measures in place for residents to get in touch with them easily and that you approve decisions quickly to keep the home habitable and well-maintained. 

Great residents offer security with predictable income and cost you less in the long run by reporting maintenance issues on time and not creating headaches or damage to your property. If you have great residents in place, you may want to consider offering a multi-year lease or an incentive for renewing their lease to encourage them to stay. 

For example, homeowners that work with Belong can take advantage of a unique incentive for renewals, because Belong allows residents to earn credits towards purchasing their own home for every on-time rental payment they make. It’s one of the many reasons why Belong residents are happy to stay put. Coupled with fantastic service and 24/7 concierge support, 71% of Belong residents renew their one-year leases. 

Rental homes are just as affected by supply and demand as any other part of our economy. Pricing your rental too high compared to similar, nearby rental options will cause residents to simply look elsewhere. But pricing strategically can be difficult, especially for newer rental home owners. 

It is important to research your rental market by looking at comparable rental properties in your area. Consider the size of the property, location, and amenities (in-home laundry, backyard, etc). If you’re having a hard time conducting market research, consider working directly with a partner like Belong. 

Belong homeowners enjoy access to our data-driven pricing analysis, and have a team of professionals to help them price their home for maximum profit, with minimal vacancies. Belong homes find the perfect residents within 19 days, on average. That’s 66% faster than average! 

Your home may still be vacant simply because renters don’t know it is available! This is the simplest yet most time-consuming part of the rental process. If you’d rather not go through the steps to market your home, consider working with a partner like Belong that does all of this (and lots more) on your behalf.

First, you’ll need to have excellent photos and even video of the home. Homes with professional photos are said to sell 50x faster than homes without, and this holds true for rentals as well. This is why Belong believes that professional photos and video tours of homes are essential to the rental process and are included at no extra cost to all Belong homeowners. 

Once you’ve taken excellent photos of your home, you’ll want to advertise effectively. Most people look to popular online platforms such as Zillow, Craigslist, and Rentals.com, so they are good places to start (and remember to check your inbox regularly for applicants and inquiries!). Social media, local publications, and even simple “For Rent” signs are also great ideas. 

If you list your home with Belong, you’ll automatically be featured on all the top sites with our direct integrations with places like Zillow and Zumper. This reduces vacancies because it means you'll get 30-50% more views for your home as well as a direct feed of applicants from these sites into the Belong system. This enables Belong to contact potential residents quickly and find the best applicant much faster than going it alone or using a traditional property management company.

It’s another way that Belong reduces vacancy times and costs for homeowners, attracting an average of 29 qualified applications for every home listed. 

With first class marketing, 24/7 support, and never-before-seen incentives for renters, Belong homeowners don’t stress about vacancies. 

Belong also keeps residents happier for longer, by ditching the outdated property management model, turning the rental experience into a world-class hospitality service for both you and your residents.  Our services currently extend to homes in the Bay Area, the LA area, Orange County, Seattle, Miami, Orlando, and Tampa (with many more to come!). See if your home is located in our network, here. 

Rental vacancies are expensive for landlords. Discover 3 ways to reduce rental vacancies and how Belong finds tenants 66% faster than the industry average.

If you think that just putting a “for rent” sign outside your home is enough to rent out your home, think again.

Get The Most Out of Your Rental Home

If you think that just putting a “for rent” sign outside your home is enough to rent out your home, think again. To successfully rent out your home you have to keep in mind things like screening possible tenants, contracts and other legal requirements, collecting rent, doing maintenance, and so many other little things that can come up along the way. 

That is why property managers are much needed. A reliable manager can take care of all the necessary operations at a rental property and can be a crucial asset to your success, from doing all the marketing for your rentals and finding trustworthy and high-quality tenants to dealing with maintenance issues and providing assistance with legal processes. During this article, we will talk about the benefits of hiring a property manager and why Belong is better. 

 A property management service usually has an established screening process that allows them to spot red flags and find tenants that most likely will pay their rent on time and create fewer problems. They also have all the required tools to run a credit and background check.  

Landlord-tenant laws and regulations are a huge thing to consider when renting out your property. If you rent your home without having a good understanding of how the legal part works, is always better to hire a property manager. They usually have a team of experts that knows all about the laws and regulations and know how to address any kind of legal situation. Some of the legal parts include evictions, inspections, terminating leases, security deposits, and rent and collections. The best part is: They also help with taxes! 

One of the main things homeowners expect when renting out a property is a monthly payment. And while there are a lot of people out there that is always on time with their payments, there are also a lot of people that are always late. This is where property management services are lifesavers. They act as an intermediary between homeowners and tenants, collecting rent and ensuring your cash gets to you. If someone is late, property management will be dealing with it so you don’t have to chase down rent or evict anyone.

Property damage is one of the things that worries homeowners the most, and for a good reason. Buying a house is a huge investment, and you want to keep it in great shape forever. When hiring a property management service, they are responsible for keeping the property in a safe condition. When hiring property management services, overall maintenance and repair costs are reduced. They will make sure to stay on top of regular maintenance to prevent bigger issues. This is possible due to preventative maintenance and periodic inspections.

If something happens to your home, a property management company has an established network of maintenance staff and contractors that deliver quality maintenance at the best price. Understanding of maintenance issues and their correct price. This saves you the hassle of finding reliable plumbers, electricians, carpenters, and so on. 

As you can see, managing your property without having the right set of skills can be difficult and time-consuming. When homeowners let a property managing company be the middle person, they end up with extra cash and extra time! 

So now that learned how important it is to properly manage your rental, let us tell you why is better to Belong.

Belong is the place where property owners and renters come to an understanding. 

No more landlords or tenants. We’re making renting magical for homeowners and residents.

Forget about having to deal with midnight emergencies, rental scams, and piles of paperwork and just Belong. 

Belong

Dom Difurio

Andrea Vale

Tyler Infelise

Ale, Owen & Tyler Founders

Adam Hanft

Dom Difurio

Andrea Vale

Tyler Infelise

Ale, Owen & Tyler Founders

Adam Hanft