We manage a large number of high end single family homes. Generally these homes are not purchased for rental. Instead, the owners could not sell them in the current market and are renting them through us instead of leaving them vacant. We call these types of owners "Unintentional Investors."
It works well for the owner of a high end property to rent it instead of taking a huge loss in the sales market. The sales market should rebound in the future giving the owner an opportunity to sell the property for more money.
We have excellent tenants in these homes. In most cases, the tenant takes the same care of the property as the owner. We pride ourselves in closely matching the tenant to the property so that everyone is happy.
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