Tips for New rental by owner

[TNGary]

We have determined to rent our home as it appears we will be up north for a while longer. It is a nice 3/2 designer stucco that has no homes behind it with a great golf course view(photo below) across Morris blvd. Seeking reasonable rent for long term lease (1-2 years) unfinished located between LSL and SS. I believe it will rent easily due to location, view and seeking reasonable rent as we prefer not to keep it empty.
With that said, as we are assessing renting by owner, one reason being not having confidence in one of the rental companies I have been working with (trying to). We have looked at the site often linked that list homes for rent by Villagers . Would appreciate any feedback from an owner who has used that service, being the Villagers rent by owner service.
1) where have you obtained a binding rental agreement document?
2) how do you administer the credit check?
3) how do you show the home if your out of town?
Any other tips are much appreciated.
Thank you

[Toymeister]

PM sent. In general ignore all comments from anyone who has not rented their home.

[asianthree]

First you need a home watch that is your ears and eyes. All other documents are on line and easy to navigate. You will find many who rent their home full time, Without using a property management company.

[Abby10]

Sent you a pm.....

[Md girl]

First off know that unless u rent for 6 months or more u will be paying a 9% tax to the state. I know people who don’t pay it but when ( not if) they get caught they also pay a penality as well as all taxes owed. Don’t know how the state knows but they do. We had just stated renting and within 6 months we got our friendly letter from the state.

[Back9]

Thank you MD Girl.

Can you give a few more details? e.g. Is that 9% of total? or 9% of Sales (i.e. a sales tax)?

[Back9]

Yes, ... also, part of Villages Community Watch is the Home Check program: $5.xx/week for a walk-around-the-house 3x per week. Wish I knew about and would use in addition to the check-inside-the-house services.

[retiredguy123]

First off know that unless u rent for 6 months or more u will be paying a 9% tax to the state. I know people who don’t pay it but when ( not if) they get caught they also pay a penality as well as all taxes owed. Don’t know how the state knows but they do. We had just stated renting and within 6 months we got our friendly letter from the state.
In addition to the Federal income tax on any profit you make.

[TNGary]

This is the OP. Thanks for all of the great replies and PM's. Some have requested more photos for a better perspective. I have attached more photos. If I did it correctly. I have two more questions as new to this:
1) Fair Value? Does $1,600/month sound reasonable,
2) Are many folks looking for a two year lease as that would fit better with our time frame?
Please advise and thanks to all for the comments,,
sorry for the photos not being oriented correctly, tried to correct with no luck.

[retiredguy123]

We have determined to rent our home as it appears we will be up north for a while longer. It is a nice 3/2 designer stucco that has no homes behind it with a great golf course view(photo below) across Morris blvd. Seeking reasonable rent for long term lease (1-2 years) unfinished located between LSL and SS. I believe it will rent easily due to location, view and seeking reasonable rent as we prefer not to keep it empty.
With that said, as we are assessing renting by owner and have looked at the site often linked that list homes for rent by Villagers. Would appreciate any feedback from an owner who has used that service, being the Villagers rent by owner service.
1) where have you obtained a binding rental agreement document?
2) how do you administer the credit check?
3) how do you show the home if your out of town?
Any other tips are much appreciated.
Thank you
Unless you are an experienced landlord, you may want to make sure you are doing the correct thing with a house that you intend to live in a year or so from now. I think it will be difficult to find a reliable tenant who wants to furnish a designer house and set up all the utilities, and maintain the property, and then be evicted in a year. Just my opinion. Good luck.

[TNGary]

Sent you a PM Abby10

[Md girl]

It’s 9% on whatever rent u take in. Plus your house changes as a rental and a whole new set of tax rules apply.