In a Rush to Cut and Run? Learn to Love the House You're In.

If you turn over your property to your lender, it will have a severely negative impact on your credit history and credit score. If you're foreclosed on, it may take years before any lender is willing to grant you a mortgage to buy another property.

So if you can figure out a way to love the house you're in, at least until the time you can sell it or rent it, you'll be a lot happier.

Q My husband and I are German and own a house in Fairfax County. As we will have to go back to Germany for a few years starting this summer, we are planning to rent out our house. We have some questions about the lease. Our house is on a half-acre lot, with a swimming pool, hot tub and septic tank (which will be emptied this summer).

Should we have the landscape and the swimming pool maintained by companies instead of leaving it to the renter? The cost for these services is quite high and, in addition to the local real estate taxes, we may not get it back with the rent we're able to get.

If we decide to leave the maintenance to the renter, what kind of rules would you recommend to put into the contract? Is there a model contract we could use?

We have a lawn mower. Should we leave it here and rent it out with the house or sell it? Should we talk about the septic tank in the lease? Should we leave instructions for how to use a septic tank?

If there is damage caused by the tenants, how should we deal with it?

A close friend of ours is a real estate agent and will take care of the leasing process, as well as the property as our property manager. We know there are property-management companies. How are the costs calculated for such a service?

ALong-distance rentals are often problematic. You're going to be living in Germany, thousands of miles from your home in Virginia. Normally it's not a great idea to keep a long-distance rental for an unlimited time because you're not going to be there to check on it. But it sounds as though you're preparing as well as you can.

First, you need an agreement with your friend, the real estate agent, who will be acting as the property manager. The agreement should detail how much the friend will be paid and what services he or she will provide.

Will she check on the property weekly or monthly? Will she send digital photos or video of the exterior and interior of the property? Will she run ads, find tenants, screen them, and arrange credit and background checks? Will she collect rent checks and deposit them for you?

More important, what happens if your friend is unable to fulfill her end of the bargain? (While you may still be friends, she could get sick, move or leave the business.) Or what if she's taking your money but not doing a good job? What mechanism do you have for firing her and finding another property manager?