Looking to rent our place out, fully furnished, for one calendar year -- what's the right plan?

[Anonymous]

My wife and I just got dual fellowships to move overseas for all of 2019 (leaving Dec 2018, return Jan 2020). We've got a beautiful mid-century modern home in Mt Pleasant, 2Br 1.5Ba, and ideally we'd rent it out fully furnished and not at a huge loss or anything (total cost of the mortgage + PITI is $3k a month, and basement units here seem to rent for $2k unfurnished, so I'm hoping we'll do alright). What's the right way to do this? We were talking to a couple of State Dept folks, because it sounds like the State Dept reimburses really well, but that ended up falling through. Should we be talking to American/GU/Howard to see if they have any visiting fellows looking for DC housing, or what?

I know I can just post the place on Craigslist, but it seems like given our specific circumstances there have to be additional options beyond that. Thanks for any advice!

[Anonymous]

Try posting on Militarybyowner.com perhaps. There's also some site I learned about on here geared to academics on sabbaticals, but I forget the name. Hopefully someone else might remember.

[Anonymous]

It’s been mentioned here before, I think it’s sabbaticalhomes.com

[Anonymous]

Learn the law about the rights your renters will have before you pursue this.

[Anonymous]

Anonymous wrote:It’s been mentioned here before, I think it’s sabbaticalhomes.com

This is what I would do.

[Anonymous]

I throw mine on zillow for rent by owner and a realtor who specializes in relocations and expats

[Anonymous]

Store your household goods for a year and rent your house unfurnished. It will rent faster and you will be able to keep the sane tenants for a year.

[Anonymous]

Anonymous wrote:Learn the law about the rights your renters will have before you pursue this.

Which is why someone on a sabbatical is perfect--you know they will move at the end of the term.

[Anonymous]

Won’t you need a management company in case something comes up while you’re gone?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Learn the law about the rights your renters will have before you pursue this.

Which is why someone on a sabbatical is perfect--you know they will move at the end of the term.

Unless they are offered a better paying job.

[dblasz]

State department is the way to go for sure- they get a high stipend and are usually looking for furnished rentals.I am a realtor and have rented out several furnished properties, and its almost always to State Department. I would recommend listing either with a realtor or engaging a property management company- Nest or Atlas Lane for example. Many of the larger real estate companies have established relationships with corporate relocation programs as well, I know my brokerage does. You can probably roll in the cost of a commission/ prop management services into the rent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Learn the law about the rights your renters will have before you pursue this.

Which is why someone on a sabbatical is perfect--you know they will move at the end of the term.

Unless they are offered a better paying job.

That doesn't happen often, though--that's not how academia works. I have never heard of a professor decide at the end of the sabbatical not to return to his/her position and then refuse to leave the rental where he was staying. There are some unusual stories, to be sure (I live in a college town so it's common both to have visiting professors and their families and for people to go away for the year and have a place to rent out) but not anything at that level.

And yes, definitely rent it furnished. Renting it unfurnished makes it far more likely that you might end up with a tenant who tries to stay.

[Anonymous]

I think landlords are protected from DC's crazy tenant laws if the landlord wants to move back into the unit at the end of the lease (but you should check that with a lawyer).