Renting Your Home
Pensacola homeowners that do not need equity from their existing
home to purchase a new home may consider renting it instead of
selling. Rental property is almost always a good investment. You may
get a positive cash flow, tax breaks, and someone else is paying your
first mortgage while your equity still continues to build.
But you should understand the consequences of becoming a landlord.
All tenants may not share your sense of pride in ownership and,
therefore, may not maintain the property like you would.
If you plan to rent your property, acquaint yourself with the Florida
Statues that protect you and other 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. Your
Real Estate Professional can assist you in getting you professional
advice from a tax expert before you decide to turn your home into
rental property.
Once you get your advice, call Sheffield & Associates for all your
property management needs.
Work with one of Pensacola's finest Real Estate Professionals today!
Call me anytime if I can help you at 850-341-4489 or
email me!
