Here at the National Association of Residential Property Managers (NARPM) conference in Maui, we’re asking an important question: If I’m a homeowner with a $3 million home, why should I consider renting it instead of selling it? At Foundation Rentals, we get this question a lot, and at first, it can seem crazy to rent out such a high value asset. But honestly, half of our portfolio is multi-million dollar homes, and there are a couple of good reasons for that.
San Rafael Professional Property Management: Rental Shortage
In Marin County, there is a rental shortage for great homes with a gorgeous kitchen and a nice layout and a desirable yard in a fantastic school district with a San Francisco commute. If you can place a check mark next to your home on all those details, you have a property that will be of interest to the great tenants looking for properties to lease. That’s our rental shortage, so your home could be worth more than you think. It’s worth a call to explore the option of renting it out.
San Rafael Taxes and Financial Considerations
There might also be some very attractive fiscal reasons to rent out your property. You can take tax depreciations and write-offs on your rental property. Talk to your accountant when you’re deciding whether to rent or sell your property. Financially, it may make more sense for you to reap tax benefits instead of selling the home and paying those taxes.
San Rafael Investment Options
There are also broader things to consider, such as long term wealth building. When you’re thinking of buying investment properties for the future, you usually think of buying smaller condos or less expensive houses. That’s not necessarily the case in Marin County. Depending on your financial situation and the age or condition of your home, it’s worth running the numbers. Sometimes, you’re surprised at the investment opportunity you may already own.
We offer free consultations, so give us a call. If you have any questions about San Rafael property management or what to do about San Rafael relocating, please contact Foundation Rentals and Relocation.