Keep My Home or Rent It Out? Senior Rental Strategy (55+)
Some senior homeowners don’t want to sell their current home at all. Instead, they want to keep it—either for legacy reasons or to create rental income—while moving to a new place that fits better.
This page explains the “keep and convert to rental” strategy for senior homeowners in California and Georgia and how it compares to downsizing and selling, refinancing, and reverse mortgages.
What Does It Mean to Keep and Rent Out Your Home?
Instead of selling your current property, you:
- Move into a new primary residence (often smaller or in a new location)
- Rent out your former home to generate income
- Potentially refinance to optimize the payment and cash flow
Key Considerations for Seniors
- Do you want the responsibilities of being a landlord or hiring a property manager?
- Will the rent comfortably cover mortgage, taxes, insurance, and maintenance?
- How does keeping the property fit into your estate and tax planning?
Financing Pieces to Consider
We may look at:
- Investment Property Refinance options to structure the old home as a rental.
- Purchase Loans for your next primary residence.
- Refinance vs staying with your current terms.
Keep-or-Rent in California & Georgia
In California and Georgia, senior clients often consider this strategy when:
- They own long-time homes in Oceanside, the Inland Empire, or Metro Atlanta with low balances and rising rents
- They want to create an income stream for retirement or for heirs
Keep vs Sell vs Reverse vs Refi
“Keep and rent” is one of four main paths:
- Sell and Downsize – cash out fully and simplify.
- Reverse Mortgage – stay put and tap equity.
- Refinance in Retirement – keep your home with a reworked payment.
- Keep and Rent: hold the asset and generate rental income.
Next Steps: Keep-or-Rent Analysis
We’ll run a simple rental analysis: expected rent, expenses, payment, and net cash flow—alongside what it would look like to sell or use a reverse mortgage.