Brand new to the rental world

[Sophia Volpe]

Hey Everyone! I’m Sophia. My boyfriend and I are moving toward renting out our townhouse in Gilbert, AZ in June and want to get as prepared and knowledgeable as possible. Just bought the Rental Property Investing book by Brandon Turner, but any other resources are greatly appreciated as we take on this new venture. 

[Sophia Volpe]

Hey Nicholas, first off thank you so much for taking the time to reach out, I really look forward to learning from everyone in the community. So, the townhouse is current my boyfriend's primary residence and he'll move in with me, hence the renting of the townhouse. Mortgage, taxes etc amount to 1200 and HOA is 200. We do not have a projected rent in mind yet. The HOA covers exterior/roofing, parking management, landscaping, and pools. We are also considering the benefits of pursuing a long term vs. medium term rental (I used to be involved in the travel nursing/therapy world). We do intend to self-manage. The house is fully updated, and we keep it in excellent repair.

We haven’t gotten any quotes yet about insurance but thank you for putting that on my radar. I’m sure I’ll pick a lot of this up as I read and research but I appreciate any help I can get along the way since I am brand new to the process.