Although it might feel overwhelming, inheriting a home in Southwest Florida is a good thing. It just so happens that this is a profitable region for homeowners with rental properties. Even if you are not particularly interested in becoming a landlord, there are options for renting out an inherited home that won’t require a significant investment of your time.
When you inherit a property, you can occupy, sell or rent the home. Many people choose to rent it out because they already have a place to live and want to take advantage of the rental income. It’s a great way to supplement your existing income and you can even write off any expenses and repairs associated with the rental property.
Renting out an inherited property means you have an investment that will likely appreciate over time. By hiring a rental management company, you can enjoy the financial rewards of an investment property without having to deal with property management issues.
Another reason why people rent out an inherited property is because it can pay the mortgage while they wait until the real estate market swings in favor of sellers. It simply isn’t wise to sell a property during a buyer’s market.