Buyer Tips | Seller Tips | General Tips | Real Estate Glossary
Homeowners who don't need the
equity from their home to purchase a new home may consider renting it instead of
selling. Rental property is almost always a good investment, but you should
understand the consequences of becoming a landlord.
Tenants may not share your pride of ownership
and, therefore, may not maintain the property like you would. If you plan to
rent your property, acquaint yourself with state or local landlord/tenant laws,
including those dealing with rent control and eviction procedures. If the home
you rent has been your primary residence, you could lose the benefits of a
capital gains deferral when you sell it later. Get professional advice from a
tax expert and a professional Realtor before you decide to turn your home into
rental property.
Contact Anita Kay
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