So you bought a second home and decided to rent one of your homes, but you donât know if you should do it. The first step in figuring out if you should rent the house is to figure out your expenses, also known as the nut. The nut is the cost of keeping your house going, which includes mortgage payments, utilities, repairs, taxes and any other monthly cost.
The second step is to figure out a rent price. This price must be a competitive price for the area. It should be more than your ânutâ and you should be making a nice profit, however, it should be a price appropriate for your area.
