PCS-ing Soon? What If You Own A Home
August 21, 2019
Owning a home is a big responsibility and privilege in our lives. But when you are PCSing out of town, and own – what do you do?
You have two options:
(1) SELL – you don’t have a lot of time with packing for the move
- If you work with a real estate investor, it will take a few days to two weeks at most. And most buy “as-is” in any condition.
- If you use the traditional route with a realtor, it will take on average 3 or more months.
(2) RENT – find a property manager to “take care” of your home, keep it rented out, and make sure repairs and damage are fixed.
The 50% Rule – Half of your rental income collected will go toward your operating costs, which breaks down to the following:
- 10% – Property Management Fee
- 10% – Maintenance and Renter Damage Repairs
- 8% Property Taxes
- 14% Home Owners and Landlord Insurance
- 8% – Vacancy Rate
Is Renting Worth it?
Let’s take a look at an example: If you collect $700 rent each month, then $350 will go to operating expenses for 92% of the year (you pay all expenses the other 8%) — leaving you with $2,208 profit for the year. Is that what you expected?
10 most Common Rental Repairs:
- Fridge/Stove/Dishwasher Not Working
- Water Leak in Ceiling or Under Windows
- Water Leak Under Sink
- Faucets Dripping
- No Hot Water
- Bugs / Rodents
- Garbage Disposals
- Toilet Leaking
- Clogged Toilet
- HVAC Repairs (heating and cooling)
If you choose to sell your home, then www.AButterflyProperty.com will purchase it AS-IS in any condition, for CASH. Give us a call at (931) 542-4373 and we’ll discuss all the ways we can help you PCS stress free.