Renting out a home you own sounds like an attractive way to make money, but it takes a lot of preparation. Don’t miss these tips.
Many people mull over the idea of renting out their homes. They may want the benefit of extra income to save money or pay down debt, or they may see it as an option to selling during a housing slump, a way to wait things out until the economy improves. (We have 6 Tips On Selling Your Home In A Down Market, though.) The motives are many, but it’s possible for this plan to become more trouble than it’s worth when appropriate considerations aren’t made. Here are five steps that will get you going in the right direction.
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