Nationwide – Accidental Landlords Surge as Summer Home Sales Falter

NEW YORK CITY (VINnews) – Homeowners who failed to sell this summer are flooding the rental market as “accidental landlords,” adding vacant single-family homes just as the peak selling season ends.

These owners first listed their properties for sale, then switched to rent after buyers failed to appear. Texas now accounts for 11.7 percent of all such vacant single-family rentals nationwide. South Dakota follows at 9.3 percent. Nevada and Michigan each stand at 8.4 percent, and Florida at 8.1 percent.

Nationally, accidental landlords make up 7.6 percent of active single-family rental listings, based on more than 261,000 listings.

The new supply is arriving as 17.5 percent of rental homes already carry reduced asking prices, adding further pressure on rents.

Analysts tracking listings say the pattern is concentrated among owners who tried to sell first and only later turned to leasing after demand stayed weak through the summer market. The vacant units are on the market with no tenant in place.

The shift comes as the traditional selling window closes, leaving more homes competing for renters rather than buyers.