Should You Rent Your Home?
Thinking of renting your home? Where do you start?
Get the house in shape, including interior and exterior painting and patching, carpet cleaning, appliance tune-up, ensuring adequate insulation, and fixing what needs fixing.
A property management company can research prices in your area, or you can look in the real estate section of your Sunday paper.
It’s not essential to hire a property manager, but it can make life easier, especially if you move out of the area. Interview at least three companies. Ask about accreditation, customer service, references, tenant screening, experience, vacancy rates, maintenance, monthly reporting, handling evictions, insurance, fee structure, and inspection of the property.
Renting out your home is a wonderful way of keeping your options open while covering the costs of Home Ownership. You do have to take into account the potential of increase maintenance becasue many Tenants won't use your house the way that you would but the ability of keeping the asset many times will far out weigh the extra expense.