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Subletting Your Home to a New Tenant

There are many reasons why you might want to consider subletting your home to a new tenant. You might want to move out of state for a while, or take an extended vacation. Relocating for the purpose of a new job is another common scenario.

Many people choose to sublet their home under these kinds of circumstances instead of selling it immediately. It is a less permanent solution that can give you time to figure out what you really want to do with the house.

If you sublet your home instead of selling it outright, you’ll have more options if you decide you’d rather move back in eventually. It can also help to build the equity in your home, since in essence the person subletting your home will be funding your house payments.

There might be local restrictions or regulations in your area in regards to subletting a home. Be sure to consult with your local city council and register as a landlord if you find that it is necessary.

Do a bit of research to find out what the rental price is for comparable properties in the area. This will help you set a rental price for your home.

Be sure to investigate anyone who you may consider subletting your home to make sure they seem reliable. This can greatly reduce the number of potential problems you might run into while subletting.

Keep careful records of when the rent is paid, and make any repairs that your property might need on a timely basis. Also, always make sure to let your tenant know when you will be entering the property and be respectful of their privacy.

Maintaining good communication with the person subletting your home is also important. This can be a good way of catching small problems before they turn into larger ones.

Source by Matthew Davidson

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