Marketing Plans

Archive for July, 2007

Question: Is it a good idea to rent my home and move to another state? I don’t want to sell right now…?

I am considering moving to another state. Don’t want to sell my home in this market, but can’t be here to manage a tenant. Is renting it out “long distance” a good idea? Recommendations for property management? How does this change the taxes I will pay, if I’m renting elsewhere? I’ve owned and lived in this home for a little over 3 years, in an urban area in Missouri.
I am considering moving to another state. Don’t want to sell my home in this market, but can’t be here to manage a tenant. Is renting it out “long distance” a good idea? Recommendations for property management? How does this change the taxes I will pay, if I’m renting elsewhere? I’ve owned and lived in this home for a little over 3 years, in an older residential area in south St. Louis, Missouri.

Answer: I would find a good local management company to watch your property. It will be worth the expense.
Yes, it may affect your taxes as a landlord. And check to see if your mortgage requires owner occupant.

Tracey Russell Property Management Business Development Methven Mooroolbark