The Real Deal Miami

Rent check can be welcome relief for sellers

August 25, 2009 08:21AM

With the market skewed in favor of buyers, some sellers have turned to renting out their residences while they ride out the downturn. Miller Samuel CEO Jonathan Miller told NY1 that if “you lost your job, or you’re being relocated and you are unable to cover the mortgage payments, the rental payment eases some of that pain.” But rental guide author Casey Edwards said that many of these amateur landlords are unaware of the legal entanglements that can come with renting out a home. “The rent check might not come, the individual might not move out when required,” Edwards said. “Evictions could be in your future, who knows?”