Renting can be a profitable choice, but it requires an investment of time, money, and organization to make it work. Here’s how to determine whether renting out your house is worth the cost.

Calculate your monthly expenses
You want to charge at least enough to cover your monthly outlay. So the first step is to use our free Charlotte Property Management Downloadable worksheet to calculate your costs. Start with regular expenses like mortgage, maintenance, and homeowners association dues.

Don’t want the headaches? Hire Carolina Living Property Management
You can save yourself a lot of time and effort if you engage a management company to oversee the property and take care of the details. Some firms charge a percentage of the rental fee, others a flat monthly fee, based on the extent of services. Services include general maintenance, rent collection, and—if necessary—eviction.

A management company can help you figure out how much to charge, find and vet tenants, and prepare a lease. Many management companies maintain  a roster of approved service people, so they can take care of plumbing or electrical problems and bill you later.

Expect to pay most management companies 10% of the monthly gross rent, however the fee for Carolina Living Property Management is 8%.  Want to be contacted?  Contact Carolina Living Property Management.

Some of this information courtesy of  House Logic.  Read the Rest of this article and much more at HouseLogic.com