Given the millions of homes that are languishing on the market, it’s no surprise that many owners are considering leasing their homes in order to avoid big financial losses.  If you are an owner that is debating the pro’s and con’s of leasing your property, we have some very valuable advice to share with you.

Leasing out your home can be a great experience.   A good tenant will care for your property, while paying your mortgage.   Owning investment property also has tax benefits, and while the home selling market maybe soft…the present rental market is stronger than ever.

TIPS FOR A NEW LANDLORD!

• Don’t be afraid of bad credit.  References are as important as a credit report.   In addition, many renters who lost their homes have gotten rid of their biggest expense…their mortgage.  So, if their references check out and they have good jobs, don’t let a bad credit report scare you.
• Ask the tenant to provide a current copy of their credit report, references and their last paycheck stub. 
• Call the renter”s employer to verify that they are still working there.
• Consider hiring a private investigator for less than $50.  They can immediately find out whether the tenant is a scammer or not.
• Check you local laws to see if you have to have a permit to rent out your house.
• If you are using a standard lease agreement, ask your lawyer to look it over and avoid potential surprises.
• Build in convenience for yourself.  Requests wire transfers and automatic deposits for monthly rent payments.
• Craigslist and InfoTube.net are fantastic places to advertise your rental.  Best of all, both sites are Free and allow pictures.

Thank you for visiting InfoTube.net, your FREE homes for sale and rent listing website.  Please check back in with us tomorrow when continue our blog with Property Management Tips for Homeowners.