Keeping property as a rental VS selling it now
Question: We’re moving out of
Answer: Renting your home out may seem like a great alternative to selling, but make sure you consider the financial implications.
If the main idea in renting the house is to move now and sell later, be sure to factor in the costs which may occur when reconditioning the rental home for sale as a residence. Chances are the aggravation of converting your home to and from a rental will exceed any contribution to costs or profits.
Most importantly, keep in mind that being a landlord can be difficult. Tenants will demand that repairs and home maintenance be kept up with in a timely manner. Expenses can be quite substantial, so be prepared with funds to cover them.
For answers to your real estate questions, call Allison at 970-468-6800 or 1-800-262-8442