Rent out rooms or the whole house?

[Chris Gladstone]

I maybe leaving the area for a few years and need to rent out my personal residence. It is a sfh 1250 sqft 3 bed 2 bath my first home. The same house in my area rent for 1250 a mo. Bed rooms tend to rent for 550-650. This seem like a no brainer my wife is concerned about find three good tenanted vs one. With management fees I would be 100 or so out of pocket just renting it. It on a 15 year mortgage with a good interest rate. What other advantages or disadvantages to these two possibilities? Thank you for your time. BP family

[Thomas S.]

What is the value of the home and what are your future personal life plans.

It may be more beneficial to simply sell. Renting is not always the best scenario in your situation if the home was not purpose purchase for a rental. Renting could cost more that it is worth, tenants tend to be very hard on a property so if moving back it will require some renovation and you may also face PM issues and tenant issues/evictions.

If you intend to be a landlord do so as a investment plan not as a stop gap solution to relocating. Being a landlord/investor is not fun and games and far from passive or easy.