Should You Rent Your Home?
Thinking of renting your home? Where do you start?
Assuming that you still have to pay a mortgage every month best advice will be to consult your lender and apply to be pre-qualified to purchase another property where you will be moving in.
Consult with a Realtor to have a rent price range in your neighborhood to estimate your cash flow.
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.
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.