[USER]

Tell me about your experiences/advice renting out your primary residence for half of the year or so?
We are wanting to live abroad for about 6 months out of the year when we reach FIRE.

Our house is in a very desirable neighborhood. Our thought was that we could rent it out the months we are gone, because we have no desire or need to sell this house.

Obviously if we are on the other side of the globe we would want a property manager, but what other considerations would you pass on?

[Elizabeth]

With the “rights” of tenants anymore I wouldn’t take a chance on this unless it was someone you know and trust to pay the rent, not destroy it or refuse to move out when you want.

[Amanda]

If you will be leaving it furnished, look into renting to traveling nurses. They usually want 2-3 months and are more reliable than the average renter.

[John]

not direct experience but I planned to do the same. A coworker of my wife’s did it and the renters trashed her house.

That was the end of that idea

[Nicole]

We’re planning on doing the same but we’re just getting a PM and renting it full time because how much we will get for the place if we want to come back for a few months here or there we can afford a cheaper downsized furnished rental or extended stay hotel or stay with family for a low fee etc.

[Lucy]

We did exactly that 7 years ago, spent 6 months traveling Asia/Australia with our 2.5 and 6 yr old children. We hired an experienced Airbnb property manager.

We locked up our master bedroom and used it as storage for all our personal items.

Parked our cars in my mom’s garage. Had our mail forwarded to a friend but made sure most things were e-statements, bought travel/medical insurance and auto pay for all bills.

You won’t regret going overseas. It’ll be an amazing experience.

[Corey]

I think renting out your primary home will be tough if you plan on coming back.

Because it’s “your” place you will have emotional connections to it.
You will be more affected when things go wrong or get broken.

If you’re going to rent it out I would advise removing all of your things. Painting a neutral color.

Rent for a year minimum and see how that goes.

Maybe when you come home for those 6 months yo could travel the US?

But also finding people to rent for 6 months is sometimes difficult unless you can rent to traveling nurses or doctors or have a large business nearby and rent to traveling businessmen

[Bethany]

Consider home exchanges, there are websites dedicated to this. You could use someone else’s home while they use yours.

[Christina]

A neighbor did that while they traveled abroad for 6 months. The renters refused to move out and ended up squatting.

My neighbor had to rent another home to return to and buy new furnishings and clothes because they couldn’t evict the tenants.

They are in an expensive upscale neighborhood and the squatters are professionals and have money. You just never know.

I have another friend who rents her house out every year for 4 months to the same tenant and that has worked out for her.

I have rentals and feel a PM is a must.

I personally don’t rent out my own primary or vacation homes that have personal belongings.

[Dena]

Make sure you put in the lease the tenant is responsible for repairs less than $500.

The most common issue that fits this bill is plumbing issues & often times it’s the tenants hair, baby wipes, etc.

that cause the clog. Trust me, you will thank me later!

[Jen]

Depending on where you live you would lose homestead exemption on your home. Then you pay higher property tax and capital gains when you sell with no exclusions.

[Steve]

Get a good property manager and create owners closets where you can.
I just let my property manager know which months I plan on traveling and they book it out.

Switch to e-statements for most of your mail and get a medium size PO Box.

The post office does a horrible job forwarding mail so try to minimize what goes to your mailbox.

[Author]

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