Looking to rent out my property, best practices

[Vijay Anandh]

Hi, 

Am new to renting out my property in US. 

I will be moving out of state from Santa Rosa, California, and need to rent out my property through a local property manager.

I am working on setting up an LLC, transfer the title to the LLC and then rent it out. The property is under a mortgage. So i will have to work with the lender as well - I did check with them, they do not seem to have any issues with it as i will still be the primary responsible person for the mortgage.

What do i need to keep in mind in the process?  Is there anything i am missing?  Should i rather hire someone to help me with this whole process. if yes should it be an real estate attorney or a CPA?

Any thoughts here will be helpful.

thank you in advance

Vijay

[Alecia Loveless]

@Vijay Anandh The first post nailed it. If you don’t have that much equity in the property or a huge amount of assets yet then you will be fine with the house in your personal name and lots of insurance and an umbrella policy. This is not legal advice.