Monday, December 21, 2020

Resources for Renting Out Property

With the current pandemic and every changing real estate landscape maybe 2021 will be your opportune time to invest in real property.  My guest blogger Patrick Young wrote this very informative blog post with many great links explaining and detailing the steps to consider before making this large investment.  

If you are a serious investor I recommend speaking to a real estate agent as well as financial professionals including a tax advisor and financial planner before jumping in to the market.  I am always available to work with you to start this journey.  

I thank Patrick for this post.  Enjoy!!



 


Owning rental property can be very lucrative, but it can also be a big job. If you’re thinking of buying a property to rent out or have just gotten started, you’ll need a few resources to make the process a smooth one. Preparing a property for tenants or maintaining a vacation rental can entail various tasks, but you can make it a bit easier by getting organized with these tips. 


Finances 

Should You Create an LLC For Your Rental Property? 

Create an LLC Using a Formation Service 

Tax Deductions for Rental Property Owners 

5 IRS Rules for Renting Out Your Vacation Home 


How to Stage and Prep a Rental 

Getting the Property Ready for Viewings

Clean the Floors/Carpets 

Store Items You Don’t Need 


Upgrades 

Add a Garage or Carport 

Update the Driveway 

Landscaping 

Repairs You May Need to Make 

Getting your rental property ready to roll will take some time and effort. However, when you officially have everything squared away, you’ll attract renters to your home in no time! 

Connect with experienced and talented realtor Wendy Bornstein of Coldwell Banker is available to find your next home! Click here or call 781-444-7400. 

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It is important to have the right professionals in place for each step of the home buying process.  I am always happy to introduce my clients to both reputable lenders, tax and financial advisors and legal counsel.  If you would like more information please feel free to contact me.

Wendy is a Realtor with Coldwell Banker Needham. She is available to help sellers prepare for the prospect of selling a home either virtually or in person.  For more information please email her at wendy.bornstein@nemoves.com or check her website at www.wendybcb.com.

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