From Homeowner to Landlord

If you're trying to sell your house, get in line.

At the end of August, there were close to 4.3 million homes on the market, according to the National Association of Realtors . So what do you do with your house? One choice is to stay put. But not everyone has that option. Perhaps your family is relocating because of a new job, or a baby necessitates a larger home. If you have no choice but to move, there's another way to make that property work for you: rent it out.

Renting has its upsides, including regular income in the form of rent checks. In the short term, deciding to rent your house rather than sell it will help you avoid the current traffic jam in the real estate market. ...