Centre Realty, LLC

🏠 You need to take care of a few things before you can turn your home into a rental property.

🔑 Here are the steps involved.

Step 1 – If You Have A Mortgage, You May Need To Wait

If you purchase the home and tell your lender that you’re going to live in it and then done, they may foreclose on the home if they find out. Check with your lender to find out if any waiting periods exist before turning your home into a rental.

Step 2 – Find Out If You Qualify For Another Mortgage

It’s important to find out if you qualify for another mortgage or not before converting your primary residence. While the rental income may help you qualify, your lender may not even consider it.

Step 3 – Got An Hoa? Check With Them First

If the home you want to convert to a rental property is governed by a Homeowner’s Association (HOA), you may not be able to convert it. The HOA may have rules against it, so be sure to check with them first.

Step 4 – Update Your Homeowner’s Insurance Policy

If you need to make a claim after you’ve converted your home into a rental property and you haven’t updated your homeowner’s insurance policy to a landlord policy, your claim will probably be denied.

Step 5 – Learn The Tax Laws That Apply To You As A Landlord

While it’s a good idea to hire a tax advisor for your investment property, it’s a good idea to learn the laws yourself so you can make an informed decision as to whether turning your home into a rental is a good idea or not.

Step 6 – Get Yourself And The Home Ready

Take a look around the house and identify any repairs or upgrades that need to be made. Don’t go overboard with the upgrades but keep the property on par with other rentals in the area.

Barbara Parks | Centre Realty LLC
[email protected] | (803) 319-6817
8033196817

6 Tips To Convert Your Home To A Rental Property Barbara Parks

🌳 Whether you lack ample outdoor space to sow a garden or you simply crave the crisp flavor of fresh veggies in the winter, you can grow a garden indoors.

👌 Here’s how to create the ultimate home garden anytime inside the house.

How It’s Done

Step 1 – Find a cool spot in your home and assemble your grow lights. A basement works well for an indoor garden as the cool temperatures encourage a continued harvest.

Step 2 – Plant seeds according to package directions. If planting seedlings, repot if roots show through the drain holes.

Step 3 – Place grow lights about two inches above the plants. Use a timer to turn lights on and off as necessary. Growing plants need about 16 hours of light a day.

Step 4 – Water two times a week or when the soil feels dry.

Step 5 – Harvest fresh veggies.

Barbara Parks | Centre Realty LLC
[email protected] | (803) 319-6817
8033196817

How To Create The Ultimate Home Garden Barbara Parks

🏘️ 5 Tips For Finding A Neighborhood You’d Like To Live In

📭 They say a house is like a spouse. If that’s the case, that means the neighborhood surrounding your house is like your extended family.

1. Are There Children In The Picture?
If you have children or are planning to have children in the near future, it’s important to research the school district in the area.

2. Do You Prefer An Established Neighborhood Or A Newly Built Community?
Often, both types of neighborhoods are governed by home associations with strict rules and standards.

3. What Does Your Current Neighborhood Lack?
When searching for a new neighborhood, consider the things your current neighborhood lacks. For instance, if you’ve always wanted to live near a body of water, put that at the top of your list.

4. Do You Like To Walk Places?
If you’d prefer to drive rather than walk, however, living a little further away from town may not bother you at all.

5. What Types Of Things Don’t You Want In A Neighborhood?
For example, if peace and quiet are on the top of your list, you’ll want to steer clear of neighborhoods near college campuses or those with lively bar scenes.

Barbara Parks | Centre Realty LLC
[email protected] | (803) 319-6817
8033196817

What Neighborhood Do You Want To Live In? Barbara Parks