Updated about 2 years ago on . Most recent reply
Moving from AZ, want to keep home as 1st LTR
Hello! My wife and I bought our first home in San Tan Valley in Oct 2021 and are likely going to be moving this fall. We will be moving to Kentucky, too far away for me to manage the rental. I have no clue where to start or what to look into but a trusted advisor recommended I start with a local forum here. 1521 sq ft, 4 bed 2 bath.
I also am very curious on the details of LTR with a pool? We have a nice 10000 gal pool that I maintain myself and I can think of a few potential issues with that. Extra insurance? I’d have to pay for quality pool maintenance, too. Any advice helps!!!
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@Brad Gross What you are essentially looking for is a Property manager. Property managers are set up to take the property over, complete any preparations, market the property, screen tenants, put a quality lease in place, complete the Move-in, collect the rent, manage repairs, do inspections, move-outs, etc., for an owner. (Full disclosure: I am one and live in Queen Creek).
Regarding the pool, the good news is demand is high for rentals with pools. The downside is you need to be more cautious to protect yourself and the pool. Protecting yourself starts with proper measures to safeguard someone from accidentally getting into the pool, fences, door locks, window locks, etc. (Safety measures). As an owner, you will also want a good insurance policy. Most have an umbrella policy to give you solid coverage. Placing the property in an LLC is another way to provide protection. I have all pools professionally maintained by a pool service. Yes, this is a cost to the owner but when you weigh the risk of having a tenant not properly care for a pool it's worth it. Pool service right now is $125-$150 a month. Of course, your house with a pool will draw higher rent to offset this cost.
Good questions!