Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

How Real Estate Agents Help Homeowners Rent Out Their Houses

by Luke Fields

Most real estate agents focus primarily on helping people buy and sell houses, but did you know that you can always turn to a real estate agent if you need help renting out your house? If you are a homeowner and decide to buy a second home to move to but want to keep your first house as a rental property, you could contact a real estate agent for help with this.

Why Contact a Real Estate Agent?

People that want to buy or sell homes often call real estate agents for help, but people that are looking for rental properties will also call real estate agencies. This occurs because many people know that real estate agents know about rental properties and are able to help people find a rental to move to. If you want to rent out your house, a real estate agency could likely be a great place for you to find a tenant for your property.

How Does This Work?

When you use a real estate agent for help with this, the agent will handle most of the work. Now, it is important to know that not all agents assist with rentals, but you can usually find at least one or two agents at an agency that will help with this. When you have an agent helping you with this, the agent will not only find a tenant for your house, but the agent will also show the house, work through the lease with the tenant, and make all the other necessary arrangements needed. One of the benefits of using a real estate agent for this is that you will likely find a great tenant. Responsible individuals are usually the type of people who contact real estate agencies for rentals, and this may give you a better chance of landing a great tenant.

Is There a Commission?

As with any service offered by a real estate agent, there will be a commission, but the commission varies. Some agents will only charge a one-time finder's fee, which covers all the work of the deal. Other agents may charge a monthly fee for every month the tenant stays in the rental. You can negotiate the commission with the agent, if you want, to ensure that it is affordable for you.

If you are interested in renting your house out and do not know where to begin, you should consider talking to a real estate agent for help.


About Me

Do You Need Private Mortgage Insurance?

Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.