Monday, October 09, 2006

Want to rent your house out?

Here's a piece from the October 8, 2006 NYTimes regarding the renting of one's home.

A suprisingly good and thorough overview for the mainstream media. The article compared unfurnished versus furnished rentals with unfurnished rentals expecting more than a one year lease.

Don't ignore this option in a slow real estate sales market...too many people do. If you can get a reasonable rent rate, you're likely still paying your mortage so you get all of those tax advantages plus your expenses maintaining and repairing the property and various potential depreciation items. I know I just advised a close friend of mine who's doing this in a fairly high-end western 'burb.

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