Should You Rent Your Home?
Thinking of renting your home? Where do you start? First you have to want the responsibility of being a Landlord. Secondly, you have to be aware of the tenant screening process. Not enough screening can hurt you in the long wrong. Background checks are important.
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.