Maybe It's Time to Become a Landlord

It just might be that time. If you need to sell your home and the buyers aren't coming, consider renting out your home so that you can make that move.

In some markets, home prices continue to decline so it isn't a good time to sell unless you have been in your home long enough to have equity. Unfortunately, too many homeowners are "under water".

Homeowners who decide to become landlords and rent out their property must make sure that the rent will cover the carrying costs. Having to pay each month to cover a shortage can be expected but generating extra cash is desirable.

Once rented, it is important to make sure that the property is maintained and hiring a property manager might be your best option.

Becoming a landlord is a viable option for those homeowners that can't sell due to the down market but not for everyone.