In­form your­self about your lo­cal rental mar­ket.

The Capital - - SPORTS -

Sid Davis, a real es­tate bro­ker and author of “A Sur­vival Guide to Sell­ing a Home,” says that be­fore de­cid­ing to con­vert your res­i­dence to a rental, you should make sure the num­bers work for you.

As he notes, most large realty firms have rental depart­ments that can help you as­sess the rel­a­tive strength of your lo­cal mar­ket. Agents who list many ren­tals on the Mul­ti­ple List­ing Ser­vice can quickly es­ti­mate how much rental in­come your prop­erty could com­mand.

Ad­ver­tis­ing (on­line or in print) can also help, Davis says. Sur­vey the ads to see how nu­mer­ous they are for your type of prop­erty (sin­gle fam­ily, town­house or condo/apart­ment) and go­ing rents.

“You might even wish to run a test ad to check out your rental mar­ket. This is not un­eth­i­cal, so long as you don’t mis­lead any po­ten­tial ten­ants,” he says.

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