Home
What's new
Latest activity
Authors
Store
Latest reviews
Search products
Forums
New posts
Search forums
What's new
New posts
New listings
New products
New profile posts
Latest activity
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
Cart
Cart
Loading…
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Search titles only
By:
Menu
Log in
Register
Navigation
Install the app
Install
More options
Change style
Contact us
Close Menu
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
HAVE to rent my house out... Advice? What am I getting in to?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="FISHTAIL" data-source="post: 13851225" data-attributes="member: 19212"><p>Yeah, what this guy said. Plus, whomever said your insurance will go down on the property must be lucky, because I own a rental, I also have USAA and my insurance on the rental property tripled when I moved out. It went up because I wasn't there, and some unknown folks would be. It also doesn't cover anything other than pretty much fire. Nothing even close to the coverage the house had before when I was in it.</p><p></p><p>I'd love to sell mine, but we are to far underwater to sell...we are still down about 30k or so on the house, plus closing costs, realtor fee's, etc. So I'm stuck with it for a while longer. I'm also local to mine, so while I do pay an agent to find/vet my tenants (cost's me 1/2 a months rent, but it's because we bought our new house through our agent) I do my own property management.</p><p></p><p>It can be a hassle for sure, but I've been extremely fortunate with very good tenants the last couple of years. Most of the stuff I've had to go fix were legitimate land lord type things..so, I'm thankful for that. Given your situation, I'd definitely opt for the property management company. Make sure you ask around to find a good one though, I've heard horror stories about lousy management companies from friends.</p><p></p><p>Also, do what you can to make sure you have at least 6 months of backup rent in savings. 18 months if you really want to be safe. If someone declares bankruptcy under you, it can take upwards of 18 months to get them out, during which time they probably won't be paying rent. Expect it to be vacant for a couple of months between tenants on occasion too. </p><p></p><p>Finally, Good luck.</p></blockquote><p></p>
[QUOTE="FISHTAIL, post: 13851225, member: 19212"] Yeah, what this guy said. Plus, whomever said your insurance will go down on the property must be lucky, because I own a rental, I also have USAA and my insurance on the rental property tripled when I moved out. It went up because I wasn't there, and some unknown folks would be. It also doesn't cover anything other than pretty much fire. Nothing even close to the coverage the house had before when I was in it. I'd love to sell mine, but we are to far underwater to sell...we are still down about 30k or so on the house, plus closing costs, realtor fee's, etc. So I'm stuck with it for a while longer. I'm also local to mine, so while I do pay an agent to find/vet my tenants (cost's me 1/2 a months rent, but it's because we bought our new house through our agent) I do my own property management. It can be a hassle for sure, but I've been extremely fortunate with very good tenants the last couple of years. Most of the stuff I've had to go fix were legitimate land lord type things..so, I'm thankful for that. Given your situation, I'd definitely opt for the property management company. Make sure you ask around to find a good one though, I've heard horror stories about lousy management companies from friends. Also, do what you can to make sure you have at least 6 months of backup rent in savings. 18 months if you really want to be safe. If someone declares bankruptcy under you, it can take upwards of 18 months to get them out, during which time they probably won't be paying rent. Expect it to be vacant for a couple of months between tenants on occasion too. Finally, Good luck. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
HAVE to rent my house out... Advice? What am I getting in to?
Top