Rental house not selling- no renters

[ninsaga]

SO house is not renting and no one is buying.... can I hand the house back to the bank. What needs to happen for this to come about

 

[shesells]

The quick answer is no. It's not just a matter of handing the keys back. You need to talk to your bank and see if they will negotiate the conversion of any negative equity to a personal debt.

 

[RMCF]

Lower your rental asking price?

You may have to accept that you will have to put money to it to make up the mortgage.

 

[onlineprint]

Rental price may be the problem, too high and you get no phone calls, where have you advertised the house for rent, that may also be a factor

 

[Sandals]

Was in a one bed apartment today where my friends renters moved out as found a three bed house for same money!!!! She offered them a much lower rent price but they wanted the space the new place would afford them.

 

[Bronte]

SO house is not renting and no one is buying.... can I hand the house back to the bank. What needs to happen for this to come about

Very difficult to say based on such scant details. Do you have other assets, a job etc?

 

[roker]

We move because the LL wanted things both ways, to rent the house and have it on the market with people coming to view it, a very insecure situation