Friday, March 25, 2016

I am looking to rent my house out and move to another area. What do I need to do to make this happen? Costs?


I live in Maryland, and I own a home that has a completely paid off mortgage that I inherited. My girlfriend and I are looking to move away, it is too costly to live here and I think I was too young to be given this home, considering my job doesn't pay much. I considered selling the house, but I am thinking about renting it out because it could be profitable. Zillow tells me I could get around 2200 dollars a month for my house. What do I need to do to get started? We are already planning on putting in new carpet and new paint. Also, with income taxes on the rent income, is it really going to be profitable? We also planned on hiring an agency to deal with the tenants, is this a good idea? We will be moving within the state. Any answers would be greatly appreciated.

Read more: I am looking to rent my house out and move to another area. What do I need to do to make this happen? Costs?