How to Rent Out Your House: A Comprehensive Guide
Considering whether to rent our house in Duvall, Washington? We're not alone. With the rental market in the United States experiencing significant growth—approximately 43 million households now rent rather than own—many homeowners are exploring the potential benefits of becoming landlords. In Duvall specifically, we've seen rental demand increase as the Seattle metro area continues to expand, with average rents rising approximately 5-7% annually in recent years.
We understand that deciding to rent our property instead of selling comes with numerous considerations. Perhaps we're relocating temporarily but plan to return, or maybe we've recognized the potential for generating passive income in Duvall's growing rental market. Whatever our motivation, transforming our home into a rental property can provide substantial financial benefits while preserving our real estate investment.
Pros and Cons of Renting Out Your House
Pros of Renting Your House:
- Steady Rental Income: In Duvall's current market, we're seeing single-family homes generate monthly rental income between $2,000-$3,500, depending on size and features. This provides reliable cash flow that can cover our mortgage payment and potentially create positive monthly income.
- Property Appreciation: While generating rental income, our Duvall property will likely continue appreciating in value. The Seattle metro area has historically seen strong appreciation rates.
- Tax Benefits: We can confirm that rental property owners enjoy numerous tax advantages, including deductions for mortgage interest, property taxes, insurance premiums, maintenance costs, property management fees, and depreciation.
- Preservation of Equity: Rather than selling in a potentially unfavorable market, renting allows us to maintain ownership while building equity as tenants essentially help pay down our mortgage.
- Future Flexibility: We've seen many Duvall homeowners appreciate the option to move back into their property later or sell when market conditions improve.
Cons of Renting Your House:
- Landlord Responsibilities: We must emphasize that being a landlord requires time and effort. We'll need to handle maintenance requests, collect rent, and address tenant concerns.
- Maintenance and Repair Costs: Our experience shows that landlords should budget approximately 1-2% of the property value annually for maintenance. For a $700,000 Duvall home, that's $7,000-$14,000 per year in potential costs.
- Potential Tenant Issues: Even with careful screening, we occasionally encounter problematic tenants who may damage property, pay late, or require eviction—a process that can be costly and time-consuming in Washington state.
- Vacancy Risks: While Duvall's rental market is strong, vacancies can still occur. Each month without a tenant means lost income while still paying the mortgage, property taxes, and insurance.
- Legal Compliance: Washington state and King County have specific landlord-tenant laws that we must navigate carefully.
Should You Rent or Sell Your House? Key Factors to Consider
Financial Considerations
We always start by analyzing the numbers. In Duvall's current market, here's what we recommend evaluating:
Cash Flow Analysis: We calculate potential rental income against all expenses (mortgage, taxes, insurance, maintenance, and management fees). For a typical 3-bedroom Duvall home, we're seeing rental income of approximately $2,800-$3,200 monthly. After expenses, many property owners can achieve positive cash flow of $300-$700 per month, though this varies based on mortgage terms and property condition.
Equity Position: If we've owned our Duvall home for several years, we've likely built substantial equity due to the area's strong appreciation. We find that homeowners with at least 25-30% equity are better positioned to become landlords, as this provides a financial buffer for unexpected expenses.
Tax Implications: When selling, we must consider capital gains taxes if our profit exceeds $250,000 (single) or $500,000 (married). Renting allows us to defer these taxes while potentially benefiting from depreciation deductions.
Long-term Wealth Building: In our analysis, Duvall properties have historically appreciated at 5-7% annually. By renting rather than selling, we maintain this appreciation potential while generating income—a powerful wealth-building combination that selling eliminates.
Market Conditions
Seller's vs. Buyer's Market: We're currently seeing Duvall's market favor sellers, with homes selling within an average of 15-20 days. However, if we're not getting offers near our desired price point, renting may be the better short-term strategy.
Rental Demand: Duvall's rental market remains strong, with vacancy rates below 3%. The town's quality schools, proximity to employment centers, and rural character continue to attract families looking for rentals.
Future Growth Projections: We anticipate continued growth in the Duvall area as Seattle's tech sector expands and more professionals seek housing options with more space. This suggests both rental rates and property values will likely continue rising over the next 5-10 years.
Personal Circumstances
Relocation Timeline: If we're moving temporarily (1-5 years) and plan to return to Duvall, renting preserves our option to move back into a home we love in a community we value.
Management Capacity: We honestly assess our interest and ability to manage a rental property. If we're moving far from Duvall or have limited time, professional property management (typically costing 8-10% of rental income) becomes an important consideration.
Financial Goals: Our broader financial objectives matter. We find that clients focused on building long-term wealth often benefit more from renting their property, while those needing immediate capital for another down payment or investment might prefer selling.
How Much Can You Rent Your House For? Pricing Strategies
- Research Local Comparable Rentals
We always start by examining similar properties currently rented in Duvall and nearby communities like Carnation and Monroe. For accurate comparisons, we look at homes with similar:
- Square footage (within 200-300 sq ft)
- Number of bedrooms and bathrooms
- Property type (single-family, townhome, etc.)
- Neighborhood quality and amenities
- School district (Cherry Valley Elementary and Cedarcrest High School are particularly desirable)
In Duvall's current market, we're seeing 3-bedroom single-family homes renting for approximately $2,800-$3,200, while 4-bedroom homes command $3,200-$3,800 monthly.
- Utilize Online Rental Estimation Tools
We leverage several digital tools to validate our market research:
- Zillow's Rent Zestimate: While not perfect, this tool provides a helpful starting point for Duvall properties, typically within 10-15% of actual market rates.
- Rentometer: This platform allows us to input our address and property details to compare against actual rentals in the Duvall area.
- Redfin Rental Estimate: Provides another data point based on recent rental transactions in our neighborhood.
- Factor in Property-Specific Features
We adjust the baseline rental rate based on our property's unique attributes:
- Premium Features: Updated kitchens, hardwood floors, and energy-efficient appliances can justify a 5-10% premium in Duvall.
- Outdoor Space: Properties with larger lots, especially those backing to green spaces or with mountain views, typically command $100-$200 more monthly.
- Garage Space: An attached two-car garage adds approximately $50-$100 to monthly rental value compared to properties with single or no garages.
- Additional Living Space: Finished basements or bonus rooms can increase rental value by $100-$200 monthly.
- Consider Seasonal Timing
We've observed that Duvall's rental market has seasonal patterns:
- Peak Season (May-August): Families prefer moving during summer break to avoid disrupting the school year, allowing for 5-10% higher rents.
- Slower Season (November-February): Demand typically decreases during winter months, potentially requiring a 3-7% discount to attract tenants quickly.
- Test the Market
If uncertain between two price points, we often recommend starting at the higher end with language indicating flexibility (e.g., "Rent: $3,200, willing to consider offers for qualified tenants"). This allows us to gauge market response while preserving the option to adjust downward if necessary. In Duvall's current market, properties typically receive applications within 7-14 days if priced appropriately.
Preparing Your House for Rental: Repairs, Upgrades, and Compliance
Essential Preparation Steps
- Conduct a Thorough Property Inspection
We recommend starting with a comprehensive inspection to identify any issues that need addressing:
- Structural integrity (foundation, roof, walls)
- Electrical systems and outlets (particularly important in older Duvall homes)
- Plumbing functionality and water pressure
- HVAC system efficiency (crucial for Duvall's varying seasonal temperatures)
- Appliance operation and condition
Consider hiring a professional inspector ($300-$500) to identify issues we might miss.
- Address Safety and Compliance Issues
We prioritize safety-related repairs to ensure legal compliance and protect against liability:
- Install smoke and carbon monoxide detectors on every level and outside sleeping areas (required by Washington state law)
- Ensure all exterior doors have functional deadbolts
- Check for and remediate any lead paint if our Duvall home was built before 1978
- Test for radon and mitigate if necessary (parts of King County have elevated levels)
- Ensure all electrical outlets near water sources are GFCI-protected
- Consider Strategic Upgrades
While major renovations rarely pay off for rentals, we find these targeted improvements offer strong returns in Duvall's market:
- Fresh, neutral paint throughout (typically $2,000-$3,500 for a full interior)
- Updated lighting fixtures in key areas like dining rooms and entryways ($50-$200 each)
- New cabinet hardware in kitchens and bathrooms ($3-$8 per piece)
- Refreshed caulking around tubs, showers, and sinks ($50-$100 in materials)
- Professional carpet cleaning or replacement if heavily worn ($200 for cleaning, $2,000-$4,000 for replacement)
- Enhance Curb Appeal
First impressions matter significantly. We focus on these exterior improvements:
- Landscaping maintenance (mowing, pruning, weeding)
- Fresh bark or mulch in garden beds (particularly appealing in Duvall's natural setting)
- Clean gutters and downspouts (essential before Pacific Northwest rainy seasons)
- Touch-up paint on trim, doors, and shutters
- Clear and defined walkways
- Update Insurance Policies
We ensure proper coverage by:
- Converting homeowner's insurance to a landlord policy (typically 15-25% more expensive)
- Increasing liability coverage (we recommend minimum $1 million coverage)
- Adding loss of rental income coverage
- Documenting all valuables and conditions with photos and video
- Ensure Legal Compliance
We verify compliance with all regulations:
- Obtain a rental business license if required (check with Duvall city requirements)
- Register with King County's Rental Registration and Inspection Ordinance program if applicable
- Prepare disclosures required by Washington state law (lead paint, mold, etc.)
- Review Fair Housing requirements to avoid discrimination issues
- Prepare compliant lease documents specific to Washington state laws
Common Preparation Mistakes to Avoid
Based on our experience with Duvall rentals, we caution against these frequent errors:
- Overlooking Water Management: Duvall's significant rainfall makes proper drainage, gutter maintenance, and waterproofing essential to prevent costly water damage.
- Ignoring Pest Prevention: The wooded surroundings of many Duvall properties make preventative pest control particularly important before tenant occupancy.
- Skimping on Weatherization: Proper insulation and weatherstripping are crucial for energy efficiency in Duvall's climate and can significantly impact tenant satisfaction during winter months.
- Failing to Document Condition: Without thorough move-in documentation (photos, videos, written reports), disputes over security deposits become much more challenging.
- Neglecting Septic Systems: Many Duvall properties utilize septic systems that require inspection and possibly pumping before new tenants arrive.
Step-by-Step Guide to Renting Out Your House
- Assess Your Financial Position
Before listing our property, we recommend:
- Consulting with our mortgage lender to verify our loan allows for rental use
- Calculating our monthly carrying costs (mortgage, taxes, insurance, HOA fees if applicable)
- Establishing a reserve fund (we suggest 3-6 months of expenses) for vacancies and repairs
- Meeting with a tax professional to understand rental income implications and potential deductions
- Consider Business Structure and Asset Protection
We often discuss:
- Whether to hold the property in our name or create an LLC for liability protection
- The costs of forming an LLC in Washington state ($200 filing fee plus annual maintenance)
- Insurance requirements, including a landlord-specific policy with adequate liability coverage
- The potential benefits of an umbrella policy for additional protection
- Determine Your Ideal Tenant Profile
We help identify:
- Minimum income requirements (typically 3x monthly rent in the Duvall area)
- Credit score thresholds (most successful landlords require 650+)
- Rental history expectations
- Pet policies (approximately 65% of Duvall renters have pets)
- Smoking policies
- Occupancy limits
- Set Your Rental Terms
We establish clear policies regarding:
- Lease duration (12-month terms are standard in Duvall)
- Rent amount and payment methods
- Security deposit (typically equal to one month's rent in Washington)
- Late payment penalties (subject to Washington state limitations)
- Maintenance responsibilities
- Utility payment arrangements
- Create a Comprehensive Lease Agreement
We develop a Washington state-compliant lease that includes:
- Names of all adult occupants
- Property address and description
- Lease term and renewal options
- Rent amount, due date, and payment methods
- Security deposit terms and conditions for return
- Maintenance responsibilities and procedures
- Rules regarding alterations, noise, and property use
- Entry notification requirements (24 hours in Washington state)
- Required Washington state disclosures
- Market Your Rental Property
We implement a multi-channel marketing strategy:
- Professional photography highlighting our property's best features
- Compelling property descriptions emphasizing Duvall's unique benefits
- Listings on major rental platforms (Zillow, Trulia, Apartments.com)
- Local marketing through Duvall community Facebook groups and bulletin boards
- Signage if permitted by our HOA or neighborhood
- Open houses or scheduled showing blocks to maximize efficiency
- Screen Potential Tenants Thoroughly
Our rigorous screening process includes:
- Comprehensive rental application collecting employment, income, and rental history
- Credit checks through reputable services
- Background checks including criminal history
- Verification of employment and income (pay stubs, employer contact)
- Previous landlord references (we recommend contacting at least two previous landlords)
- Personal references
- Approve Tenants and Complete Paperwork
Once we've selected tenants, we:
- Notify approved applicants promptly
- Collect security deposit to hold the property
- Schedule lease signing
- Review all lease terms in detail with tenants
- Collect first month's rent (and last month's if applicable)
- Provide keys and property access information
- Complete the move-in checklist documenting property condition
- Establish Rent Collection Systems
We implement reliable payment processes:
- Setting up online payment options through platforms like Zillow Rental Manager, Avail, or TurboTenant
- Establishing clear payment deadlines and grace periods
- Creating a system for tracking payments and generating receipts
- Developing procedures for addressing late payments
- Maintaining detailed financial records for tax purposes
- Implement a Maintenance System
We create efficient maintenance procedures:
- Establishing clear channels for maintenance requests
- Building relationships with reliable local Duvall contractors
- Creating emergency response protocols
- Scheduling regular preventative maintenance (HVAC service, gutter cleaning, etc.)
- Documenting all maintenance activities and expenses
Finding Tenants and Screening Applicants Effectively
Marketing Your Rental Property Effectively
Create Compelling Listings
We craft listings that showcase our property's best features while optimizing for search visibility:
- Professional Photography: We invest in high-quality photos ($150-$300) that highlight our property's best features, including exterior views, all rooms, and special amenities. For Duvall properties, we emphasize natural light, outdoor spaces, and any mountain or valley views.
- Detailed Property Descriptions: Our listings include comprehensive information about the property's features, nearby amenities, and Duvall's unique benefits (excellent schools, proximity to outdoor recreation, small-town charm with easy access to employment centers).
- Virtual Tours: When possible, we include 360-degree tours or video walkthroughs to give potential tenants a better sense of the property layout and flow.
Utilize Multiple Listing Platforms
We maximize exposure by listing on various platforms:
- Major Rental Websites: Zillow, Trulia, HotPads, and Apartments.com reach the broadest audience of potential tenants.
- Local Resources: The Duvall community Facebook page, NextDoor, and local bulletin boards often reach quality tenants already familiar with and committed to the area.
- Realtor.com and MLS: For higher-end Duvall properties, listing through a real estate agent can attract relocating professionals willing to pay premium rents.
Screening Applicants Thoroughly
Application Collection
We use a comprehensive application that gathers essential information:
- Full legal names and contact information for all adult occupants
- Social Security numbers for background and credit checks
- Current and previous addresses (minimum 5-year history)
- Employment information including position, income, and supervisor contact
- References from previous landlords
- Personal references
- Vehicle information
- Pet details if applicable
- Authorization for background and credit checks
Verification Processes
Income Verification:
- Request recent pay stubs (typically last 2 months)
- Verify employment directly with employers
- Review tax returns or bank statements for self-employed applicants
- Confirm that household income is at least 3x the monthly rent (the standard requirement in Duvall's rental market)
Rental History Verification:
- Contact current and previous landlords to confirm tenancy dates
- Inquire about payment history, property care, and lease compliance
- Ask if the landlord would rent to this tenant again
- Verify that the provided landlord contact information is legitimate
Background Screening:
- Run credit checks to review payment history, outstanding debts, and credit score (we typically look for scores above 650 for Duvall properties)
- Conduct criminal background checks at county, state, and federal levels
- Search for eviction records and judgments
- Verify identity through government-issued ID
Legal and Financial Essentials for Landlords
Legal Considerations
- Lease Agreements
A comprehensive, legally-compliant lease is our first line of protection:
- We recommend using Washington state-specific lease templates that incorporate all required disclosures and provisions
- Our lease must comply with the Washington Residential Landlord-Tenant Act (RLTA)
- Key provisions should include rent amount and due date, lease term, security deposit terms, maintenance responsibilities, entry notice requirements (24 hours in Washington), and grounds for termination
- Security Deposits
Washington has specific requirements for handling tenant deposits:
- Security deposits must be held in a separate trust account at a financial institution
- We must provide tenants with the name and address of the institution where deposits are held
- A written checklist documenting the property's condition must be signed by both parties at move-in
- Deposits must be returned within 21 days of move-out, along with an itemized statement of any deductions
- Fair Housing Compliance
Discrimination laws apply to all aspects of the rental process:
- Federal Fair Housing Act prohibits discrimination based on race, color, national origin, religion, sex, familial status, or disability
- Washington state law adds additional protected classes including marital status, sexual orientation, gender identity, veteran/military status, and source of income
- All advertising, tenant selection, and property management practices must comply with these laws
- Eviction Procedures
Washington has specific requirements for terminating tenancies:
- For non-payment of rent, a 14-day notice to pay or vacate is required
- For lease violations, a 10-day notice to comply or vacate must be provided
- No-cause terminations generally require 20 days' notice (though some municipalities have additional restrictions)
- Self-help evictions (changing locks, removing belongings, shutting off utilities) are strictly prohibited
Financial Considerations
- Tax Implications
Rental income brings both tax obligations and opportunities:
- Rental income must be reported on Schedule E of our federal tax return
- Washington has no state income tax, but other state taxes may apply
- Deductible expenses include mortgage interest, property taxes, insurance, maintenance, repairs, utilities we pay, professional services, and travel expenses related to property management
- Depreciation allows us to deduct the cost of the building (not land) over 27.5 years
- Insurance Requirements
Proper insurance coverage is essential:
- Convert our homeowner's policy to a landlord policy (dwelling fire policy)
- Expect to pay 15-25% more than a standard homeowner's policy
- Ensure coverage includes property damage, liability protection, and loss of rental income
- Consider requiring tenants to obtain renter's insurance
- Setting Aside Reserves
Financial planning prevents cash flow problems:
- Maintain a reserve fund of at least 3-6 months of expenses
- Budget 1-2% of property value annually for maintenance and repairs
- Plan for major capital expenditures (roof, HVAC, appliances) based on expected lifespans
- Account for potential vacancy periods in our financial planning
Ongoing Management: Tools and Tips for Success
Property Management Options
Self-Management
Many Duvall property owners choose to handle management themselves, particularly if they:
- Live within a reasonable distance of the property
- Have sufficient time and organizational skills
- Possess basic maintenance abilities or reliable contractor relationships
- Want to maximize rental profits by avoiding management fees
Professional Property Management
Hiring a property management company offers numerous benefits:
- Comprehensive tenant screening and placement
- Rent collection and financial reporting
- 24/7 maintenance coordination
- Legal compliance management
- Handling of tenant communications and issues
In the Duvall area, professional management typically costs 8-10% of monthly rent ($240-$350 for a typical property), plus tenant placement fees (often one month's rent).
Essential Management Tools and Software
Property Management Platforms
- Avail: Comprehensive platform offering online rent collection, maintenance requests, and tenant screening. Their basic plan is free for one unit, making it ideal for Duvall single-family rentals.
- RentRedi: Mobile-focused platform ($9-$19/month) with tenant and landlord apps, making it particularly useful for managing properties remotely.
- Zillow Rental Manager: Provides listing distribution, tenant screening, and online rent collection. Basic listing service is free, with additional features available for purchase.
Financial Management
- Stessa: Free rental property financial management platform that tracks income, expenses, and generates tax-ready reports.
- QuickBooks: More robust accounting solution ($25-$70/month) that integrates with tax preparation software.
Maintenance Management Strategies
Preventative Maintenance Schedule
We recommend implementing a seasonal maintenance calendar for Duvall properties:
- Spring (March-May):
- HVAC system service before summer
- Gutter cleaning after winter
- Exterior inspection for winter damage
- Lawn care system startup
- Fall (September-November):
- Heating system service before winter
- Gutter cleaning after leaf fall
- Roof inspection
- Weatherization (particularly important for older Duvall homes)
Tenant Maintenance Education
Proactive tenant education reduces issues:
- Create a tenant handbook with property-specific information
- Provide clear instructions for basic maintenance tasks (changing filters, operating systems)
- Establish and communicate maintenance request procedures
- Conduct seasonal reminder communications (winterization tips, summer lawn care)
- Clarify tenant vs. landlord maintenance responsibilities
7 Common Mistakes First-Time Landlords Make and How to Avoid Them
1. Underpricing Your Rental Property
The Mistake: Many first-time landlords in Duvall set rent too low, either from uncertainty about market rates or fear of vacancy. We've seen properties underpriced by $200-$400 monthly, resulting in thousands in lost annual income.
How to Avoid It:
- Conduct thorough market research using multiple sources (Zillow, Rentometer, local property management companies)
- Compare at least 5-7 similar properties currently renting in Duvall and nearby communities
- Consider seasonal factors (spring/summer typically command higher rents in Duvall)
- Factor in your property's unique features (mountain views, large lots, proximity to schools)
2. Inadequate Tenant Screening
The Mistake: Rushing the tenant selection process or relying solely on first impressions can lead to problematic tenancies. We've seen the consequences: late payments, property damage, and even costly evictions that can eliminate years of rental profits.
How to Avoid It:
- Implement a comprehensive screening process including credit, criminal, and eviction checks
- Verify income (should be at least 3x monthly rent) through pay stubs and employer confirmation
- Contact multiple previous landlords (not just the current one, who might give a positive reference to remove a problem tenant)
- Document your screening criteria and apply them consistently to avoid fair housing issues
3. Using Inadequate Lease Agreements
The Mistake: Generic lease templates often lack state-specific provisions or fail to address important issues. We've seen landlords face legal challenges and financial losses due to lease omissions or unenforceable clauses.
How to Avoid It:
- Use Washington state-specific lease agreements that comply with the Residential Landlord-Tenant Act
- Include clear policies on rent collection, maintenance responsibilities, and property rules
- Address specific concerns for Duvall properties (septic system usage, well water considerations, wildlife interactions)
- Have your lease reviewed by a real estate attorney familiar with local regulations
4. Neglecting Property Inspections and Documentation
The Mistake: Failing to properly document property condition before, during, and after tenancy can lead to security deposit disputes and difficulty proving tenant-caused damage.
How to Avoid It:
- Conduct thorough move-in inspections with the tenant present
- Document property condition with detailed photos and videos (date-stamped if possible)
- Use a comprehensive room-by-room checklist signed by both parties
- Perform regular inspections (with proper notice) during tenancy
5. Mishandling Security Deposits
The Mistake: Improper management of security deposits is one of the most common legal pitfalls we see. Washington state has specific requirements, and violations can result in penalties up to double the deposit amount.
How to Avoid It:
- Hold security deposits in a separate trust account (not commingled with personal funds)
- Provide tenants with the name and address of the financial institution holding the deposit
- Return deposits within Washington's required 21-day timeframe after move-out
- Provide detailed, itemized statements for any deductions
Key Takeaways: Renting Out Your House Successfully
- Thorough Preparation Creates Profitable Rentals
We've found that investing time and resources in property preparation yields significant returns. Properly maintained homes in Duvall can command 10-15% higher rents and attract quality tenants who stay longer. Remember that first impressions matter—clean, updated properties with curb appeal rent faster and for more money than those in merely acceptable condition.
- Strategic Pricing Maximizes Your Return
Pricing our Duvall rental correctly from the start is crucial. We recommend researching comparable properties, utilizing online estimation tools, and considering our home's unique features. In today's market, a well-priced Duvall single-family home should rent within 2-3 weeks. If our property sits vacant longer, it's likely overpriced for its condition or location.
- Tenant Screening Is Your Most Important Protection
We cannot overemphasize the importance of thorough tenant screening. The time invested in verifying income, checking references, and reviewing credit and background reports pays dividends through on-time payments, proper property care, and fewer legal issues. Remember that in Washington state, evicting a problematic tenant can take 3-6 months and cost thousands of dollars.
- Legal Compliance Prevents Costly Mistakes
Navigating Washington's landlord-tenant laws requires attention to detail. We've outlined the essential requirements for security deposits, property condition documentation, maintenance standards, and fair housing compliance. Staying informed about these regulations protects us from penalties that could eliminate years of rental profits.
- Systematic Management Reduces Stress and Improves Results
Whether we self-manage or hire professionals, implementing systems for rent collection, maintenance, inspections, and communication creates a better experience for both us and our tenants. The property management tools and software we've recommended can dramatically simplify these processes while improving consistency and documentation.
Renting our house in Duvall, Washington can be a rewarding financial strategy when approached with proper preparation and knowledge. The current rental market in Duvall remains strong, with continued demand from families and professionals seeking the area's unique combination of natural beauty, strong schools, and proximity to employment centers.
Whether we're renting our house temporarily while waiting for market conditions to improve or beginning a long-term investment strategy, the principles we've outlined will help us maximize returns while minimizing stress and legal exposure. We wish ourselves success in our rental property venture!
