Just get a management firm to help you out. My mother has one and she pays them 10% of the gross rent income which ensures that they will look for the tenants and deal with them. Make sure to be proactive with them because my Mother wasn't and they haven't raised the rent in so many years so the home she owns is renting way below market value. I would recommend reading books about renting to get familiar with the market.
of course you can rent it, in your case you probably need to have someone in the area to oversee the condo in your absence
renting one's home is always a very scary situation, the majority of people who rent are of less than desirable resonsibility, renters can do untold damage
but then there are those who are good renters!
no, the rent you charge should be the amount you determine, it can be at least as much as your mortgage payment or more
no, you are no longer responsible for the utilities, you might want to include the water in your rent if you have landscaping you want to have maintained
the cable and/or internet should be up to the renter, their choice, there expense, same with phone
you should maintain some insurance coverage, that will depend a lot on what the condo association has in efffect--they may cover the building etc but anything inside is up to the renter--whatever is theirs
Really just get property management company and done with it...
Your gonna be in Texas.....At 10% and find good company not shaddy
not to sell* my home. 2 bed 2 bath condo btw
Hello,
I live in Louisiana, and I'm moving to Texas. However, I've decided not to less my home. I really like it. And with this new job, I can comfortably afford to keep the property empty. However, I thinking that I should rent it out. This way I can pay the mortgage each month, and but that rent I'm getting toward the equity.
However, I'm sure there are a lot of caveats that come with renting. Do I have to change my home insurance policy? Am I ultimately responsible for utilities and I bill them later for that? If I like my currently cable and internet plan, will I have to change it?
Renting sounds good, but I want to make sure that I'm not missing anything legally, that would actually make this expensive. Please yahoo community. Drop your knowledge egg my head.
