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Benefits of Renting Your Home When Taking an Extended Vacation

vacation1Taking a long vacation may seem like a dream come true. You have made plans to spend your summer in Europe, winter in the Caribbean, or even be gone a year or more exploring a different region. If you have the opportunity to take a long extended vacation, and you have your sights set on adventure and relaxation for yourself. Something you may want to consider is what to do with your home and belongings during this time. One idea is to rent your home during your time away, and with doing this there are a number of benefits you can receive.

Generate Income from Your Home
With renting your home to a short term tenant, your home will generate a monthly income for you. You can use the income to pay for yourvacation2 mortgage, property insurance, or other expenses while you are gone. Basically, it can help make your trip more affordable during this extended period of time.
 
Decrease Your Maintenance Expenses
vacation3When you’re away from your home, you will still have maintenance and weekly chores to do. Things like watering your garden and cutting your grass. You might have a leaky pipe to repair before it becomes problem and causes damage to your home. If you are gone you will have to make arrangements for your lawn and someone to check the interior. If you lease your home to a tenant, you could have the tenant be responsible for caring for the yard. They would also be there to alert you to any problems that may develop inside the home.

 

Someone to Keep an Eye on Your Property
vacation4If a home appears to be vacant, there is a greater chance of your to being vandalized or burglarized. Having a tenant will give your home an occupied look and will decrease the chance of criminal activity. You may also have the tenant change your air filters, replace batteries in the smoke detectors, and any other items that may come up with that will keep your home in good condition. You can add any of these things to you lease agreement with the tenant.

If you’re planning a long extend vacation you may want to consider the benefits of short tenant will you are away. You can speak with a real estate agent to give you information about the market rental rates for your home.

moo thorpe headshotWhether you are selling your home, or buying a home, I can help you with your endeavor. Please contact me at 505.780.0310, or email me at moo@moothorpe.com and I will be happy to assist you.

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