If you have a piece of Santa Cruz real estate and you’re trying to figure out whether to sell it or rent it, here are a few things to think about before doing either:
1. How much rent can you charge? Your rent will need to cover the costs, including mortgage, taxes and insurance. In addition, you’ll need liability insurance, as well as an additional 5 to 10 percent for unexpected maintenance. If your area’s typical rent amounts won’t cover your costs, you probably don’t want to rent.
2. Do you have other ways to cover a down payment? If you’re moving to another piece of property, but relying on the equity in your current Santa Cruz real estate for the down payment, you don’t want to rent.
3. Do you have the time? Becoming a landlord means