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Updated about 6 years ago on . Most recent reply

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22
Posts
13
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Dieter W.
  • Jupiter, FL
13
Votes |
22
Posts

Moving out of a house hack.

Dieter W.
  • Jupiter, FL
Posted

So I bought a townhome with a detached garage loft in Jupiter Florida a couple years ago. I live there on a seasonal basis and have lived in the 2 bed/2.5 bath main townhome while renting the detached garage loft the entire duration to friends and co-workers. I have also been lucky enough to rent to co-worker and friends in the summer while I was not there. It has worked out well.

I have always rented to people I know, but I have done this at a significant discount to the market. I was getting my feet wet while knowing who I was dealing with. I have now bought a fixer upper dream home for my wife and I and I am planning on moving out the townhouse.How do you go about listing your rental property? Airbnb is not an option and the minimum duration is 6 months. Craigslist? Realtor?

Should I transfer this townhouse into an llc? Anything else I should be doing?

Most Popular Reply

User Stats

1,392
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2,129
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Tyler Gibson
  • Real Estate Agent
  • Orlando, FL
2,129
Votes |
1,392
Posts
Tyler Gibson
  • Real Estate Agent
  • Orlando, FL
Replied

@Dieter W. Theresa has some good points. I would add that you can use cozy.co to manage the property. I believe that it has the ability to market on the big sites like trulia, zillow, etc. Craigslist and facebook can work well. A yard sign can do the trick also. Since you will be dealing with people you don't know make sure to do a credit/background check. 
The quality of your returns is predicated on the quality of your tenants. Cozy.co has functionality for people to apply for your property and do the background and credit check through there. 

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