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We have been working with a client who has now decided that their snowbird home will become their only home and now the question becomes what to do with the one in Wisconsin. They have done a beautiful kitchen remodel...have a great attached sunroom overlooking their pool with a deck...a nicely finished lower level...great location and it had been home for many years. They wanted to discuss all their options.
What IF...they rented out the Wisconsin home what did that look like ? Having been landlords and sold single family homes that were taken care of by property managers, we could counsel them from experience...ours and other clients.
Yes, the home would provide additional income and while in southeastern Wisconsin, there are few single family homes for rent, we were able to give them an approximate rental income range. Typically, leases are for not less than one year and no...renting the home furnished is not a plus because it means storage of the tenant's furnishings and that is not a popular long term option in this market.
There is landscaping that must be maintained and a pool besides. Yes, that can be written in the lease and equipment supplied...cross your fingers that ... more
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