How to rent out your house

When a rental property lands in your lap, should you hold or fold? Outsource the management or do it yourself? Are you ready for the tenants, toilets and trash?

While many people would love to have an extra house to worry about, owning even one rental property can be a headache. You have to tease the problem apart and ask yourself, among other things:

• Is it worth hanging onto this property?
• How will you feel about strangers moving into your beloved home?
• Can you, a novice with a day job, turn a dime on a real-estate rental while avoiding the Tenants from Hell?

The answer to these questions depends partly on the place itself. Ideally, it’s in good repair, in a safe part of town and the mortgage is cheap or paid off. The more your place departs from this ideal, the more closely you should look at selling if you can. That’s because, whatever your reason for holding and renting out a spare house — and there are many — it won’t work if you don’t treat it like a business.

Can you do it? Should you?
The biggest criterion for whether you should even attempt this may be whether your temperament is suited to being a landlord. “You first have to look yourself in the mirror and ask if you have the time and the skill set to do this properly.

By Marilyn Lewis

Since 1946 the Carnahan name has had a reputation for honest and ethical Real Estate Property Management services in the San Fernando Valley, Santa Clarita Valley, Burbank/Glendale, Los Angeles, Westside and Conejo Valley areas.

The reason for our success is helping owners like you when they need it. Below is a partial list of property management services we provide to help you protect your real estate investment.

• Tenant placement
• Tenant screening (including: credit check, landlord and employment verification, social security trace report, California eviction check and criminal check)
• Regular property inspections
• Accounting and landlord bill payment
• Monthly financial reporting
• Maintenance service and supervision (we use only proven independent vendors)
• Collections
• Evictions
• We supply all the necessary forms to meet California’s Landlord/Tenant laws
• 24 hour emergency phone service
• Advertising to the broadest tenant base possible

Call or e-mail us today for more information. We’re ready to get started!

• Carnahan Property Management services Woodland Hills,West Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, West Lake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 and check if we can service your area.