Selling an investment rental property subject to an existing lease can be accomplished, but it is more complicated than a standard sale. First and foremost, you have to understand the landlord-tenant law in your state and understand your tenant’s rights. For example, in Virginia, you have to notify the tenant of your intent to sell, … Read more How to Sell Your Property with an Existing Tenant in Place
Homeownership is the number one American Dream. Many people of all ages dream that they will one day own their own home. Although the financial crisis of 2008 and the current economic crisis created by COVID-19 has proven that homeownership is not always a safe bet. However, I have yet to meet anyone who swears … Read more 10 Things to Consider Before Buying a House
Homeowners insurance is essential because it protects your most significant purchase and most valuable asset. Homeowners insurance is designed to help you cover the repair costs when your home is damaged by a covered peril, recover the costs of stolen personal properties, and pay for the replacement cost of your home if it becomes necessary. … Read more How to Review and Update Your Homeowners Insurance
Once Summer comes, the utility bills start to rise as the air conditioner is turned on. To save money on our utility bills, we often employ several strategies that also increase the energy efficiency of our home. If you are concerned about your utility bills this summer, here are 7 ways you can cut costs. … Read more 7 Ways to Cut Your Utility Bills This Summer
A pre-approval letter is a letter issued by your lender to indicate that they have reviewed your income, assets, and credit; and has conditionally approved you for a specific loan amount. The pre-approval letter will also show the type of loan that you will be using and the conditions that you will have to meet … Read more What is a Pre-Approval Letter?
A Private Mortgage Insurance, or PMI, is a type of insurance that protects the lender (not you) if you default on your loan. All lenders require that you pay for PMI with less than 20% down payment on most loans. You see this as an extra cost on your monthly mortgage payments. Typically, you can … Read more What is a Private Mortgage Insurance (PMI)?
As a Realtor, I have dissuaded potential homebuyers from buying more than once. Yes, it is not good for my pocketbook, but it is the right thing to do. If you’re in the position to buy a house, buying may not be the right thing for you (see why below). For the most part, I … Read more Renting vs Buying: Which One is Right for You?
Can you rent out your property without using a real estate agent or a property management company? Absolutely, you can! In this article, I will tell you the exact steps you need to follow to rent out your property on your own. Of course, I will be highlighting some of the advantages and disadvantages along … Read more How to Rent Out Your Property Without an Agent
Due to the recent pandemic, people spend more time inside their home. Keeping your family healthy has become a top priority in most households — this means keeping everything as clean as possible. In addition to keeping surfaces clean, you should also pay attention to the quality of the air you breathe. In this article, … Read more How to Improve Indoor Air Quality of Your Home
So, you have outgrown your current home, and you are thinking about keeping it as a rental property. Converting your current house into a rental might not be a bad idea, but there are several things that you need to take into consideration. Depending on your situation, you might be better off selling the current … Read more Should You Keep Your Current House as a Rental?