Need To Lease Your Family Home Out For A Temporary Relocation? What To Know

If you are being relocated and you want to rent out your family home while you are away, there are some things you want to take care of before you start entertaining renters. You'll want to make sure you get high quality renters in the house and that you won't have to worry about payment or other issues.

Renting your house is going to put you and your house at risk, so you need to be protected. Here are the people you need to contact right away.

A Real Estate Attorney

A real estate attorney will help you draw up a lease that is legal and protects you while the renters are in your home. The attorney can screen the applicants to check if they have acceptable credit or a criminal background. The attorney will also tell you what type of insurance coverage you need on the property to protect from liability concerns, and to protect the house while you're away. The appointment with the attorney needs to happen before you rent out your house. The attorney will be able to take action if the renter is past due on their payments while you are away.

Relocation Company

Relocation companies that help large businesses and companies move their employees around are often looking for suitable living options for their clients. They may have a family that needs to be placed and is looking for a house like yours to rent. This could be ideal because the funds could be coming from the employer, which means easy payments that are on time every month.

Real Estate Company

A real estate company will have clients that are looking for rentals, or looking for a house to rent just while their house is being built. You may be able to find a renter through the agents in the office before you have to list the house on a classified site. This could also keep the information more private that the house is being rented.

Renting your house can be a great way to make the mortgage payments while you're living away, as long as you have a strong lease contract and the right insurance. You may want to have a cleaning company come in and clean the house before you move out, and you may want to have someone you know check on the property occasionally to make sure everything is in order. If you're looking for a real estate attorney in your area, visit Levin & Levin, LLP - Attorneys at Law.

About Me

Understanding The Risks Of Real Estate Investments

When my parents passed away, they left me with a little bit of an inheritance. Instead of sticking that extra money in the bank, where it would undoubtedly be wasted away in a few months, I decided to start investing in real estate. I spent a little time looking around for the right home, and then I worked with a real estate agent to put in a decent offer. Unfortunately, the first few houses that I invested in didn't yield a significant return, which is why I started working with a lawyer who specialized in real estate. The lawyer helped me to understand contracts and look over property details before I made mistakes. Check out this website to learn more about how a real estate attorney could help you.

Latest Posts

17 September 2018
What do you do if you have financially irresponsible children but you still don't want to disinherit them? A good way out is to go ahead and name the

24 January 2017
Investing in commercial real estate can lead to financial success. However, careless mistakes can negatively impact an investment and have a negative

8 February 2016
If you have an eye for spotting great real estate investment deals but do not have the cash needed to purchase them, you could consider using a joint