Rent Out Your House and Travel: How to Fund Your Travel

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Want some time away from ordinary life? Why not rent out your house and travel? Having someone pay your rent or mortgage payment gives you the freedom to travel with your family and then return to the familiar when you’re ready.

Rent Out Your House and Travel: How to Fund Your Travel crooked-house-on-the-beach

HOW TO RENT OUT YOUR HOUSE AND TRAVEL

This site is all about helping people find ways to travel with kids. In this series of posts, I’m trying to address many of the strategies and techniques for funding family travel. Some I’ve tried. Others have been implemented by traveling families I know (many of whom have been interviewed on the Epic Education Radio family travel podcast).

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Rent Out Your House and Travel How to Fund Your Travel

I’ve already talked about how to save money for travel, and how to sell all of your stuff.

The thing is, not everyone wants to sell everything for a life of indefinite travel. Sure, some families want to drop everything and go. However, many more families would prefer to have a unique travel experience for a set period of time and then return to the jobs, schools, and routines of the life they know best.

Both paths are valid, and both paths are possible.

Some people want to return home in order to keep that connection to their neighborhood or community. Other people want a break from their lives before moving onto something (or somewhere) new. Then there are many families who simply want to take a family gap year or a sabbatical from their job and have every intention of returning.

If any of these options sound like you, and then this post is for you. You own your home. Maybe you’re still paying for it. Here are some of the steps you can take to rent out your house and travel. It’s going to require some work on your part, but doesn’t anything worthwhile?

Rent out your house and travel the world

The goal: find tenants for however long you plan to be away. That way, your rent or mortgage is paid, and in many cases, you’ll also have money to travel with. Then you can return back to something familiar when you’re ready,

Many, many guests on Epic Education Radio are doing this.

The Johnson family did it. So did Bliss Broyard and the Denning family. Renting your home is often just one component of financing a gap year travel plan, but it can be a significant one. Rodrigo and Gretchen rented their house and sold stock to fund their gap year. The Fassbender family used the money they had saved to buy a bigger house to travel and simply moved back into the same house.

How to rent out your house and travel

Some homes find renters easier than others of course, but there are so many people that don’t even consider the idea of renting their house to travel when it may be a viable option. Here are a few tips for renting your house.

Get the place properly appraised

Check with a real estate agent, or simply look on rental sites and places like Craigslist to see what places similar to yours are going for.

How transient is your town?

Are there any large companies in your area? The kind of companies where people move into your city to work? For some people, it might be a good idea to contact that company, as they may have an HR division or other kinds of employee relocation programs that help incoming staff find a place to live.

Announce your rental to the right people

Craigslist, newspapers, and specialized real estate websites can help, but so can your own neighbors, colleagues, and Facebook friends. If you want to rent out your place and travel for only a year or less, it might even be better to find someone in your own social circles.

Provide the right details on your listing

Are you close to schools, parks, shopping, public transportation or an important road through your town? List them all. Add the exact dimensions of each room and of the entire property. What appliances come with the place? List all of them. If your rental period is temporary, an existing refrigerator and washer/dryer can be a deal-maker.

Avoid generalities

Don’t say “In a good neighborhood.” Name the neighborhood. Don’t write “walkable” or “close to [desirable location].” Write the actual distance. “Walkable” is subjective.

Take great pictures of your property

If you can’t do this, then find someone who can. If you want to rent out your house and travel, then the house needs to look as attractive and authentic as possible.

Images of your property are one of the main things that attract people. Potential tenants won’t sign a lease on images alone of course, but they may never even visit your place if your pics of the property look crappy.

You also want to take accurate pics of the place before any new tenants move in. This gives you a record of what the places looked like before you left on your travels.

HOW WILL YOU RENT OUT YOUR HOUSE AND TRAVEL?

We need your insight. What techniques will you use to rent out your house and travel? Or have you rented your house or rented your apartment for travel already? How did you find tenants? Give us your advice in the comments below, or contact me directly.

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