Reply to Inherited parent's home. Rent or sell.

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[quote=Anonymous]I know people are saying sell, and that may be the best option. But a few things to consider.

- some lower income neighborhoods are part of larger redevelopment projects by the city. You should check to see. It may be worth waiting to sell if new amenities are coming in soon.

- there may be local programs to help you fix up the place. Sometimes it is only owner occupied. But you should check.

- renting to housing choice voucher recipients CAN sometimes be a great benefit to landlord. They let you rent it at fair market value (which is sometimes in the nose for what you need, sometimes a little less). The municipality guarantees the rent. There are many studies which show hcv recipients are no worse a tenant than any regular tenant. (Oftentimes single moms.) and the municipality often gives various incentives to landlords who participate fully. Plus most cities/municipalities have a known voucher roster (too many holders, not enough properties) that they publicize to their voucher holders  be an option for finding a tenant quickly. My friends have participated in this program with success in order to hold on to properties that were increasing rapidly in value over the next 5-7 years. [/quote]

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