Real Estate Freeze

It appears for the past couple of years buyers have been waiting to purchase a home in hopes the interest rates would drop.  Sellers need to sell.  This has put most sellers in a bind because in order to move they need to sell and it’s just not happening right now like it was a couple of years ago.

If you need to move, then there is the option of renting out your home.

When renting out your home you would need to stay on top of maintenance, repairs and rent collection.  You would still be responsible for paying the mortgage and the HOA dues if they apply.

You would also need to change your insurance policy to a landlord policy and notify the county if this is your primary residence because there would be a loss of homestead on the property.

Homestead exemptions apply to primary residences and not rental properties or investment properties.

After taking care of these few things and getting your house ready then you are ready to find a tenant which means coming up with a rent rate, marketing the property, showing the property and screening potential tenants. Also, there is the cost of vacancies between tenants.

Renting out your home will add more responsibility to your already full plate, so that is where I can help to relieve you from some of that stress.

It sounds like a lot, but it’s really not hard.  If you are waiting to sell your home or even if you are moving and plan on returning and have thought about renting out your home, then call me and let’s chat.  I can help you through the process so you can move on with what is waiting for you in your future.