Would you turn your house into rental property if you were moving out of state? I had not planned on it as income for retirement but with market as it is, wasn't sure if it would be better than selling. What are issues?
Current Mortgage Tax, ins - 700/month
Property Age -27 years, has had updates but A/C unit is 7-8 years old
Management companies have said they will take 10-12% rental as fee then I'm responsible for any repair costs
Rental would be around 1050 - 1100 per month (house is 1500sq ft)
My concern is being out of state, bad tenants, repair cost issues versus selling house in current market (and not being around, so house sits empty)
Current Mortgage Tax, ins - 700/month
Property Age -27 years, has had updates but A/C unit is 7-8 years old
Management companies have said they will take 10-12% rental as fee then I'm responsible for any repair costs
Rental would be around 1050 - 1100 per month (house is 1500sq ft)
My concern is being out of state, bad tenants, repair cost issues versus selling house in current market (and not being around, so house sits empty)