Residential Property Management/Rental question


I have a couple questions. My situation is that I am planning a move from Alabama to the NYC area very soon. The question is what I want to do with my house in Alabama.

I own this property. And I'm thinking about putting it up for rent. I have never done this kind of thing before and I want to make sure I'm covered. Not sure how much I want to ask for rent. Would my homeowners insurance cover anything regarding the property?

I'm not sure what to ask. I guess I need some guidance.

Hello Ryan,

First I must state that I am not licensed to do business in your state and cannot give legal advice.

Your home owners insurance should cover your entire home but you must tell your insurance agent that you will be renting it out. Your coverage will commonly not cover the tenants effects and tenants must get Renters Insurance, it is about $20 a month. Cheap.

If you chose a Property Management company that is BBB rated A or B, and they are a member of NARPM, the National Association of Property Managers or a similar organization... you stand a better chance of dealing with a good company.

I own six homes and even though there can be ups and downs, the tenant is paying your mortgage payment for you and eventually your home is paid off. If your home is already paid off, this is a good supplemental income in my opinion but you must get someone reputable and duly licensed to collect your rent.

I hope this has helped. Wishing you the best with your move to NYC.  

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Donald J. Leske II


Advocate for Landlord & Tenant Rights. Based in Washington State as a Licensed Real Estate Broker and Property Manager. I am a Landlord but I am not a Lawyer. Ask any question dealing with the rental of residential properties, including; 1. Evictions. 2. Maintenance & repair issues. 3. How to set a fair rental price. 4. When to hire a property manager. 5. Selling and how to determine value. 6. Basic tax questions and Legal issues ok, but most will be referred to a professional in that field.


I have 30 years experience in Property Management with about 560 clients, plus I own my own Real Estate Brokerage ( with expanded experience & training in Short Sales, Foreclosure negotiations and rental property management. I write an informal online Real Estate News Magazine and am a member of NARPM, National Association of Residential Property Managers and have been quoted by News Agencies.


Rated and reviewed Editorials, Advice and short Articles at Trulia, Active Rain and All Experts online. Advice Contributor contributor
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ABR Certified, State of Washington Licensed Agent & Broker. Past member of BBB, Chamber of Commerce and Board of Realtors.

Awards and Honors
2003, 2004, 2005, 2006 Presidents Gold Award for high achievement, John L. Scott Realty. - "Shining Star Award" 2006 - 03/04/05/06 All Star of the Year Award for excellence.

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