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  1. #1
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    Default Anyone renting out a property??

    I'm using a property company to "manage" the place...screen the applicants, etc....my thing is it's not just some income property....it's the home we lived in for 18 years, where my kids grew up and part of my legacy to them so it's pretty special to me. We ended up upgrading (carpet, ceramic tile, granite) 6 years ago and last year the air condition, hot water heater, washer/dryer, roof had issues so they are brand new, not to mention a full coat of fresh paint (even in the closets), new laminate flooring on ground level, etc...so while I want my renters to pay on time it's EQUALLY important that they don't trash the place...credit only tells one part of the story, and believe you me I've seen trifling rich folk and Section 8 folk who keep their places immaculate. I just want someone who CARES! So....the lockbox goes on this weekend and the listing goes up...I'm nervous and excited but will be relieved as it's been tough carrying two mortgages. And I'm ready to enjoy the new house, shoot!

    I've heard all the horror stories, anyone have positive ones....did you visit the place once or twice a year just to make sure the renters are taking good care of the place? Any special clauses I should include in the rental agreement? No smokers or pets, folk said I should take that out but dangit, only if it lingers too long...most rentals in the community get scooped up in less than 45 days, and nobody has the upgrades that I do so hopefully it will be an impressive find.

    Give a girl some pointers please!
    Last edited by Savvyone; 05-03-2017 at 05:01 PM.
    "The soul takes flight to the world that is invisible, but there arriving she is sure of bliss and forever dwells in paradise." - Plato


  2. #2
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    Default Re: Anyone renting out a property??

    Someone who works in my district owns multiple properties and I think he rents them by room; last I spoke to him, he was looking at buying another (NICE) house. I have a married friend who owns a nice house and rents out the old one; the rent covers the mortgage while they get to keep it.
    I have another friend who rents a townhome and the landlord occasionally has someone come in with a camera to take pictures of the property (giving my friend legally adequate notice beforehand, of course). The HOA of that community went up, but the rent never did, even though the landlords of the other townhomes increased rent. I'm wondering if it was because he wants to keep my friend as a stable, reliable tenant.
    Good luck! I'm sure you've done this but if it were me, I'd want to know the laws on evicting people due to unpaid rent, etc. and other landlord-tenant laws so that I could deal with any potential conflict as swiftly as possible. If you go forward with renting, I'd love to hear updates and learn about what you've experienced!

  3. #3
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    Default Re: Anyone renting out a property??

    I definitely will! Yeah, when I get a stable tenant I'll want to hold onto to em too!
    "The soul takes flight to the world that is invisible, but there arriving she is sure of bliss and forever dwells in paradise." - Plato


  4. #4
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    Default Re: Anyone renting out a property??

    still no for rent sign up yet....everytime I think I'm close something goes on the fritz, we can add new toilet to the list...I'm pretty exhausted, was hoping to have it out of my hair before vacation next week, here's praying....
    "The soul takes flight to the world that is invisible, but there arriving she is sure of bliss and forever dwells in paradise." - Plato


  5. #5
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    Default Re: Anyone renting out a property??

    Contractor coming to re-do laminate floor and hunny bunny put in a new toilet...vacation starts tomorrow, DAYTONA! Can't wait to soak up some sun and just decompress from the past year...bank account was on hostage buying new house and now it's being drained by the old one....this time last year I was living fine one check took care of all the bills and the other was fluff....have to spend money to make money, hoping to have an AWESOME testimony of this dual homeownership thing in a couple years!
    "The soul takes flight to the world that is invisible, but there arriving she is sure of bliss and forever dwells in paradise." - Plato


  6. #6
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    Default Re: Anyone renting out a property??

    My property is rented out. I also have a property management company that handles everything. Placement, rent collections and and repairs. It's going well so far. I've had a tenant since February 2017.

  7. #7
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    Default Re: Anyone renting out a property??

    thanks Mirah that's encouraging! Finally got everything done, transferring to the property mgmt company this week and hopefully it goes quickly, carrying two mortgages the past 6 months has been brutal!!
    "The soul takes flight to the world that is invisible, but there arriving she is sure of bliss and forever dwells in paradise." - Plato


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  9. #8
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    Default Re: Anyone renting out a property??

    mgmt co took pictures yesterday, can't wait to see the listing!
    "The soul takes flight to the world that is invisible, but there arriving she is sure of bliss and forever dwells in paradise." - Plato


  10. #9
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    Default Re: Anyone renting out a property??

    Listing and photos ARE UP across multiple sites on the internet, ECSTATIC!!!! And mine does look A LOT better than the others in my neighborhood guess so since we virtually replaced errythang, I'll see how long it takes for someone to bite and update then!
    "The soul takes flight to the world that is invisible, but there arriving she is sure of bliss and forever dwells in paradise." - Plato


  11. #10
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    Default Re: Anyone renting out a property??

    we have an applicant, mgmt. co is verifying that everything checks out....
    "The soul takes flight to the world that is invisible, but there arriving she is sure of bliss and forever dwells in paradise." - Plato


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