To rent to own or not?

[Sandy Sciales]

Any suggestions would be greatly appreciated.

We have a 3/2 in Wilmington, NC it is a long term rental. We decided to put it for sale 2 weeks ago and asked our awesome tenants to move out at the end of April. THE very next day after putting on the MLS, the Covid virus became a very big concern here, restaurants were limited to 6, the next day schools and so on. When we tried to back peddle and keep our tenants they informed us that they are already moving to another state. I have had a meager 3 showings in week 1.

Strategy: put it out as a "rent to own" with a 5% down $239,000 asking 2 years to cash out. (on zillow?) Or put it back on the rental market and HOPE we have great tenants again.... UGH. 

What to do, what to do,

Thanks so much!

Sandy

[Oliver Evans]

@Sandy Sciales
I agree that putting it up for rent and keeping it on the Market at the same time would be efficient. However, if you really are looking to only sell, I’d just be patient. Rentals tend to sell much easier once they are vacant and hopefully once the dust settles a bit in the next few weeks, you’ll start to get some more showings.  Price will also be a factor in getting the most activity during this time.