What is my goal? Is it cash flow? long term investment? retirement income?
What is my costs? Is there a mortgage? Taxes, HOA (if any), insurance, Property management fees and maintenance. Will you have a home warranty(always recommended). What is the current condition of the property? Does it need improvements?
And the big one, what is the market pricing of the similar properties.
What entity do you have it in? an LLC? S corp? do you even know what can work for you?
There are many more things to consider. Property ownership is a great way to increase your wealth and it is important to set it up in the beginning and know what you are getting into. If this is your first property, I do suggest a qualified property manager to oversee everything from marketing the property to screening tenants. Many of my clients are retired and live part time out of the country just collecting checks every month.
I can do an evaluation on your property and a cost sheet for your expenses.
Let me know if I can help in any way
Realtor, Property Manager
8625 S Eastern Ave
Las Vegas, NV 89123
I am a premitted property manager and I can safely say if you hand over the home to someone like myself you will get more rent which in turn pays my fees and as a result you will have zero hassles and I will handle everything from start to finish and in between.
Renting your home should be a painfree and profitable experience and I can assure both with my help.