For decades, owning a home has symbolized stability and long-term wealth. But in today’s housing market, more homeowners are finding themselves unable to sell and instead turning their properties into rentals — creating a growing segment of “accidental landlords.”
For financial planner Cindy Giovacchino, this shift raises practical questions about how families can protect long-term goals when an unplanned rental becomes part of their financial picture. Her work at Gio Financial often begins where personal circumstances meet broader market trends.
Why Selling a Home Has Become More Difficult
Recent reporting by major publications such as The New York Times and The Wall Street Journal points to an increase in failed home listings that later relist as rentals. Cities like Dallas, Houston, Phoenix, and Tampa have seen some of the largest moves. In Houston alone, an estimated 7% of for-sale listings converted to rentals this spring — up more than 40% from the prior year.
Post-COVID dynamics — including institutional purchasing, rate pressure, and qualification hurdles — have reshaped both the purchase and rental sides of the market.
From Selling to Renting
Many homeowners are choosing to hold and rent rather than selling at a reduced price, though the rental side brings its own challenges. Supply has increased, and individual owners may compete with institutional operators that can list and manage at scale.
What It Means for Everyday Homeowners
For families who never planned to be landlords, the result is additional responsibility: pricing, tenant screening, maintenance logistics, cash-flow variability, and tax consequences — all under competitive conditions. Some households may ultimately decide to sell, while others may rent and reassess later.
“It can feel overwhelming if you weren’t planning on it,” Giovacchino explains. “With preparation — and by understanding both the risks and obligations — it can be one way to preserve flexibility while evaluating next steps.”
Balancing the Human and Financial Sides
Like estate and retirement decisions, whether to sell, rent, or hold affects more than numbers. A property can carry emotional and generational meaning for some — and represent a burden for others. “A home is never just a balance-sheet entry,” Cindy Giovacchino notes. “My role is to help clients weigh financial and personal factors so they can make decisions with clarity.”
Important Considerations and Limitations
Real estate ownership and rental activity involve material risks: vacancies, property value declines, unexpected expenses, tenant issues, regulatory changes, and tax implications. Market conditions and rental demand can change without notice. Past trends do not guarantee future conditions. This discussion is for informational purposes only and does not constitute a recommendation to pursue any specific strategy.
Financial planning guidance is provided in an investment advisory capacity; real estate, tax, and legal matters should be addressed with professionals in those fields. Rental real estate investments are not offered through Osaic Institutions, Inc.
Looking Ahead
The rise of accidental landlords illustrates a housing market in transition. For investors, it is a reminder that rental markets can soften. For homeowners, it highlights the need for flexible, values-aligned financial planning.
Whether someone sells, rents, or holds, the central question remains: does the choice support the life they are trying to build — under current conditions and with awareness of the risks involved?
About Cindy Giovacchino
Cindy Giovacchino is a financial planner with over 25 years of experience helping clients work toward financial security through personalized, hands-on guidance.
Cindy Giovacchino is an Osaic Institutions Financial Professional. Securities offered through Osaic Institutions, Inc. Member FINRA/SIPC. Advisory services may be offered through a separately registered investment adviser. Real estate considerations are outside the scope of Osaic Institutions, Inc. There is no assurance that investing through a financial professional will improve net results. This material is for informational purposes only and should not be construed as a recommendation to buy, sell, hold, or rent any security or real property.
