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by KayJ on March 20th, 2008

KayJ

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Anyone with a rental property - Is it better to sell our house or rent it? Is renting it out worth the headache?

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  • by Brand Y on April 14th, 2008

    Brand Y

    That depends on whether you want to be a landlord or not. Renting property is a legitimate and worthwhile business... if it weren't, nobody would be doing it. But you need to treat it as a business, and that means there are records to keep, taxes to file, tenants to manage, property to maintain, etc. If you're up for all that, no problem... you can make money. If you're not up for all that, sell the house because you probably will not want the responsibilities of being a landlord without that mindset.

    Comments

    • You make money five ways by renting your property out.
      1. Rent income (cash)
      2. Interest deduction (cash)
      3. Depreciation (cash)
      4. Appreciation (available at sale time)
      5. Principal payment (available at sale time.

      The above incomes can equate to $1000 or more. Try and get that from the stock market.

      Alanwms

      by Alanwms on September 28th, 2009

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