If its a nice enough house in a nice enough area consider Aribnb or vrbo or both. I've never done it but if I had to do it over I would consider it instead of a long term rental.

For the long term rental...understand the eviction laws in your state. It varies state by state. Eviction laws in Louisiana actually favor the landlord and its not that hard to evict someone. As others have said...you got to be a flat out jerk. No excuses...get your money or they'll take advantage of you. That being said the cost of turning over a property is probably 4k each time. So working with a good tenant with a long history of good payments isn't always bad.

Lower rent with a long term tenant is better than higher rent and turning it over every 6 months. I wouldn't do a lease for less than 12 months...I always had them under an rental agreement because if they go month to month in Louisiana the eviction process gets longer.

That's my 2 cents. Its a great 2nd income. But I think you could make more as an Airbnb with less wear and tear on the property.

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Posted by trident

Member since Jul 2007

4780 posts

Posted on 8/2/22 at 8:31 pm to tigereye58

quote:
Aribnb or vrbo

St Tammany doesn’t allow that

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Posted by Jag_Warrior

Virginia

Member since May 2015

4281 posts

Posted on 8/2/22 at 9:43 pm to tigereye58

quote:
As others have said...you got to be a flat out jerk. No excuses...get your money

I agree with the overall sentiment of your post. I really do. I just pulled this part out because since I’ve been here, I’ve seen quite a few people express it that way: “being a jerk”.

Now, there are most certainly some gen-U-wine a-hole landlords. But is the mortgage company being a jerk by sending you a default notice if you stop paying your mortgage? No, they’re running a business. And when a landlord sends pay or quit notices or has to evict because of nonpayment or property damage, it’s no different. He’s running a business.

But just as many businesses do in certain situations, there’s nothing wrong with attempting to resolve an issue, where possible. But when I hear the people on here get on a rental property owner for evicting someone (“don’t be a dick, man! give ‘em a break!), it sorta gives me flashbacks and sets me off a little. None of that is pointed at your post though. I know what you meant.