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Home Forums Landlord Advice Is renting my house really profitable?

Is renting my house really profitable?

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4:31 pm
December 3, 2008


Anita

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Hi Troy-

Thanks for your emails on renting do's and dont's.  I have a question on my rental that I thought you may be able to help with.  If not, no big deal, just thought I'd try.  I'm trying to figure out whether I'm losing money or making money on my rental with all the costs involved (rent, taxes, home owners associations, insurance, etc.).  Is there a formula that factors everything in to see if it's worth it to rent?  I'm renting because I couldn't sell, but it would be nice to know if I'm actually breaking even at least - it doesn't feel like it though.

Thanks,

Anita


4:51 pm
December 3, 2008


Troy

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Anita, that is a great question.  I suggest contacting your accountant or CPA.  They would be best a determining if you are making or losing money.  They can look to see if you are receiving tax breaks as well.

 

Thanks,

Troy


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