How to Convert a Primary Residence to a Rental Property

Today we are covering how to convert your primary residence to a rental property. Make sure to check out DoorLoop today: https://go.doorloop.com/free-demo-res...

Converting your primary residence to a rental property comes with several great benefits, but there are also some things that are important to know in making that shift.
Some of these things include the pros and cons, how to actually make the conversion, tax tips and laws that are important to keep in mind, and some other frequently asked questions. We’ll cover each of those points below, but let’s start with why you’d want (or not want) to convert your primary residence into a rental property in the first place. Learn more by reading our blog: https://go.doorloop.com/residence-ren...

0:00 Welcome
0:56 Why convert a primary residence to a rental property?
1:17 Pro: Tax deductions
2:07 Pro: Claim depreciation expense
3:07 Pro: Diversify your cash flow and supplement your income
3:43 Con: Managing a rental takes work
4:32 Con: You’ll need to budget for property-related expenses
4:55 How to convert your primary residence to a rental property
7:36 Frequently asked questions


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Disclaimer: This video was produced by DoorLoop and is the intellectual property of DoorLoop. The creator featured in this video is an employee of DoorLoop. All information presented in this video is subject to change and may have changed since the time of filming. These videos are for educational and entertainment purposes and are not offering legal advice. Opinions expressed in our videos do not reflect DoorLoop's stance as a company.

Category: Property Management