If you are thinking about renting out either your primary residence or an investment property, we've put together a “Top Ten” list of important things to consider before putting your home up for rent. Keep in mind that state and local laws can change from place to place, so whether your property is in Sarasota, Florida or Seattle, Washington, you should do your homework. Also, if you plan to rent out a condo, check with your condo association regarding rules and policies regarding rentals; in some cases it may not be allowed.
1. Get proper insurance.
If you decide to rent a home that was either a primary residence or a vacation home, the insurance policy you currently have will no longer apply. Make sure you talk with your insurance agent and get the