Military members are always on the move. With PCS season around the corner, you know it’s only a matter of time. As a former member of the Military, my wife and I moved a total of 6 times in 10 years! That’s a lot! With a Military move, the question that always comes to mind is should we sell our home or rent it out?
Our last move was to Tampa FL and after moving here in 2008 we fell in love with the area and decided to purchase our first home. After separating from the Military, we once again had to move. Our biggest question was should we sell our home or rent it out with the intention of moving back to Tampa? It was a simple decision, we contacted All County Property Management and they placed a tenant in 2 weeks.
If you are in a similar situation, consider these tips before looking for a tenant:
1. Gather Your Information
Your very first step should be to contact your mortgage lender. Many loans, VA, Conventional or FHA carry certain stipulations along with it. Ensure you are not violating any part of your agreement with your lender.
2. Protect Your Property
Once you have the information you need from your mortgage lender, contact your homeowner’s insurance. Your homeowner’s policy needs to cover your home as a rental income property.
3. Research Rental Rates
A quick online search can tell you a lot about your property. Finding out what the rental rates for your home can be will give you a good idea of your income on your property. You can also Get A Free Evaluation with us and we can do the work for you. At All County Alliance Property Management, we service areas in Lutz, New Tampa, Land O’ Lakes, Wesley Chapel and parts of Tampa.
4. Contact a Professional
By this time, you should have enough information to make your decision on whether you should sell your home or rent it out. The best advice I can give, and not because I am a Property Manager, but because I have been in the same situation; is to contact a professional. Here at All County Alliance Property Management, we handle the entire process of renting your home. Find out more about what we do by visiting our Services Page! You can read more about what a Property Manager does by clicking here.
Click here to find out more about our Rates, or to download our Management Agreement or Owners Handbook.
For more information, questions or getting started, give us a call at 813.940.7500 or send us Contact Us Here!
Ashvin- Property Manager, All County Alliance Property Management.