If you are in a situation where you must sell your home but aren’t able to sell at a price that will pay off your mortgage, you may want to convert your home into a rental property! Renting out your home can lessen the financial burden, and you might even be able to turn a small profit!
Here are reasons why renting out your home might make sense:
-You temporarily need to relocate to another location but may move back in the future.
-You can't sell your house for an acceptable price now, but plan on keeping to sell later at a higher price.
-Rental income provides cash flow that may cover your mortgage, taxes, insurance and other expenses.
-Mortgage principle balance continues to decrease monthly.
-Rental property tax breaks offset rent or other income. (See your Accountant for details).
Looking for a professional Property Manager to handle all aspects of your rental property? If your answer is yes, look no further! Acuity Group is a full service Property Management company, located in Elk River, MN. We specialize in leasing and management of residential homes.
Thinking of Renting Out Your Home? Click HERE to Schedule a Free Rental Analysis
If you are thinking of buying, selling, renting your home, or leasing real estate this year we’d love to hear from you! Working with experienced professionals can boost your profits!