Homeowners who don't need the equity from their home to purchase a new home may consider renting it instead of selling. Rental property is almost always a good investment, but you should understand the consequences of becoming a landlord.Tenants may not share your pride of ownership and, therefore, may not maintain the property like you would. If you plan to rent your property, acquaint yourself with state or 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. Get professional advice from a tax expert and a professional real estate agent before you decide to turn your home into rental property.
To Learn More, Contact Bill Cullin Today.
Call or text Bill Cullin at 302-841-7147
Bill Cullin, REALTOR®
Your Real Estate Source at the Delaware Beaches
Email: Bill.Cullin@LNF.com
Websites:
www.DelawareBeachRE.com
www.BeachDelaware.com
www.TheHenlopen.comDirect: 302-841-7147
Office: 302-227-2541
Toll Free: 1-800-462-3224, ext. 117
Fax: 302-227-8165Long & Foster Real Estate, Inc.
37156 Rehoboth Avenue Ext, Suite 5
Rehoboth Beach, Delaware 19971