An Alternative Solution to Foreclosures on Second Homes

By: Marie R. Feguson

Many homeowners are on the verge of losing their home through foreclosures. There is a way to help prevent that from happening. If you can imagine renting your home and collecting enough money to help pay your monthly expenses, then you may want to consider becoming a short-term landlord. Most people are afraid to rent out their homes because they don't know where to begin. But, there is help for you. All you need is a good system in place and to be consistent in using it. Knowing who will clean up after your renters, unless you decide to do it yourself, and who will keep up with the maintenance is part of the planning process. Here are some guidelines:

1. Learn how to advertise your property inexpensively.

2. Create an interesting property listing that stands out even when the competition is great.

3. Screening your renters is an important process. It will impact on whether or not you will have a successful rental business.

4. Finding a housekeeper that is dependable may not be as hard as you may think. The cost should be factored into your rental fee.

5. If you are not handy with home repairs, ask your neighbors and friends for a referral to keep on hand. You never know when something could go wrong.

Don't let the banks take your house. You really do have other options. Do your research. Consider renting your home as a vacation home for short terms. If this option is of any interest to you and if you want more information on how to stop your foreclosure, please check out Marie Ferguson's book, "Breaking all the Rules: how to Rent Your Vacation Home. It is available at http://www.howtorentvacationhomes.com

Foreclosures
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