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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 real estate agent before you decide to turn your home into rental property.
Susan Gibson Real Estate III 17 Parkway Lane Fishersville, VA 22939 Susan 's cell: 540-487-1000 Fax: 540-886-5248 Susan's Office: 540-213-4640 Info@ValleyHomes4Sale.com
Licensed To Sell Real Estate In The Commonwealth Of Virginia
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NUMBER1EXPERT in real estate for Waynesboro, Staunton and Harrisonburg, Virginia
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