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    johns10's Avatar
    johns10 Posts: 3, Reputation: 1
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    #1

    Feb 1, 2008, 02:59 PM
    Renting a home owned in one state while residing in another
    I own a home in Nevada but will be setting up residency in another state. I want to rent the home in Nevada. What are the ramifications or issues I need to be aware of? Thank you.
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #2

    Feb 1, 2008, 03:24 PM
    The most important is to find a tenant who will pay and not tear up the place. You will need to develop procedures to locate tenants and to get rid of tenants. Also, you will want a written lease. Here are some ideas: Landlords & Property Management - Resource Center
    johns10's Avatar
    johns10 Posts: 3, Reputation: 1
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    #3

    Feb 1, 2008, 03:47 PM
    I will be getting a property management company to handle details. I guess I'm interested from my stand point, do I need to do anything special having two addresses and such.
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #4

    Feb 1, 2008, 03:52 PM
    What do you mean, "having two addresses"? You should have all important mail forwarded to your new address, right? You wouldn't want your important papers mailed to your old address, even if you own the property, because you may never see them.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #5

    Feb 1, 2008, 08:29 PM
    You will not have two addresses, once you move, you merely own a investment or rental propety and have a new address. You will have income ( hopefully) to declare on your taxes.
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