According to a recent Boston Globe article entitled Owners out, vacationers in, more and more Cape Cod residents are opting to move out of their homes for the summer to share in the lucrative summer rental market. However, as discussed in the upcoming Beliveau Law Group June Tax newsletter there are tax implications that you need to consider before renting out your home. There are contractual pitfalls which need to be considered as well. What are the ramifications if a renter either harmed your property or reneged on the agreement? We are happy to discuss the pros and cons of your entering into such a rental agreement. Please feel free to contact us.
Paul Mansur, Esq.