So you have an extra house. Maybe you have to transfer for work and it isn’t the right time to sell. Maybe you recently got married and you are merging households. Or maybe you just inherited a home from a family member. Whatever the reason, you have a decision to make. Do you sell the home or do you rent it?
For many homeowners, the allure of owning a “Rental Property” is strong but so is the fear and uncertainty. You ask yourself questions like—where do I start? How do I go about the process? Does renting make sense? Would I have enough time to bother with all the activities and responsibilities involved and would it be worth the hassle?
If you have only owned a home as your residence, you may be less than clear on the benefits and responsibilities of being a “Landlord.”
Owning a rental home or property offers several attractive benefits, these include:
- Rental properties create cash flow. Who couldn’t use an extra couple hundred dollars a month?
- You can re-invest this excess cash flow to pay down a mortgage, bolster your 401k or even buy more properties!
- Your tenants pay your mortgage—what a fantastic change right?
- You can increase the value of your investment by making improvements—countertops, bathroom updates, etc., can make the house appreciate fast.
- Rental homes offer substantial tax benefits, including depreciation and mortgage interest deductions. These can reduce the overall taxes you pay on your salaried income.
- Over time as rents increase, so does your income and cash flow.
- You KNOW homes—you live in one. There is no stock market knowledge required, and WE can offer you all the services you need to successfully be a “Landlord” and enjoy your real estate investment experience.
The first step is to contact us. We can help you evaluate your options, provide guidance on the current market value of your home and the market rental rate so you can see if selling or renting is best. Whatever direction you choose we can help. We are Metro-Atlanta’s premier “investor-focused” property management and real estate company.
We manage more than 1,400 rental units making us one of Metro-Atlanta’s most successful leasing and property management companies. We are also Atlanta Realtors Association’s #1 Sales Team. Whether you decide to sell or lease your home, ERA Atlantic Realty and Atlantic Property Management is your best choice.
Get your custom, free-no obligation sale pricing and market rent evaluation report today by giving us a call or filling out the form on this page.