I have a house paid $195000 with mortgage $710 per month. The property tax is around $500 per month and the insurance is $100 per month. Now I need to relocate to another state. If I sell now, I will lose around $15,000.
I find a PM who can rent the house out for me for around $1700 per month. The PM charges 8% fee and $50 for mowing.The PM also charges 50% of first month rent.
I also have a family who wants to rent the house. They want to sign two-year contract with $1500 rent per month. They want to do it without PM and take care of mowing themselves.
What option should I take? Thank you very much for your suggestsions.