How Do You Successfully Rent Out A House?
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How Do You Successfully Rent Out A House?
If you are planning on being your own management company you are making a mistake unless you are a real estate attorney with experience. It is only a matter of time (and probably not much) before you agree with me. Bad renters are looking for you because they cannot evade our background checks.
- Do an honest rental assessment of the home. How much will it rent for? What is the condition of the home and is it safe according to the applicable laws in your area.
- Can you afford to rent the home? Will the potential rent be enough to cover the payment, new property tax rate ( loosing your homestead exemption) and homeowners insurance increase?
- Learn about legally storing your future tenants escrow, returning the escrow or keeping it. The laws will surprise you and it non compliance will end any hope of winning a legal dispute with a bad tenant.
- Accumulate all of the legal forms you will need including authorizations for credit checks, criminal background checks and rental history etc. Good luck.
- Finally consider just using a professional agency lie us. Are you seriously risking this over 8% of the rental income? If you are we will see you in a year.
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Stellar MLS (updated 11/15/24 12:13 PM) |
