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Finding the right renter - Renting my everyday home
Posted on 1/16/19 at 8:13 pm
Posted on 1/16/19 at 8:13 pm
So, long story short my wife have agreed to move across country for work for a little over a year. We are planning to rent our 3 bedroom house out. The only catch is to rent only the 2 guest bedrooms and 1 bath. We plan to lock our master and use it as storage. This will save us from having to move a ton of furniture and renting a storage unit.
Our issue is finding the right person, we don’t want to rent our home out to just anyone. We would hate to come back to a destroyed home that we have put a ton of effort into renovating.
What says the MT board? Where should we start with finding the right person to rent it out to?
Our issue is finding the right person, we don’t want to rent our home out to just anyone. We would hate to come back to a destroyed home that we have put a ton of effort into renovating.
What says the MT board? Where should we start with finding the right person to rent it out to?
8
Posted on 1/16/19 at 8:19 pm to GeauxTime9
You could start by asking family and friends if they know anyone. Maybe a neighbor has a suggestion.
I've been in rental business most of my life. And tenant selection is primary.
It would be nice to find a young couple without pets. I have had success with teachers. I would not suggest students, but would not rule it out entirely.
Avoid someone who is in an extreme hurry to rent, as they may be getting booted from a current landlord. Look at their credit and get an idea who you're dealing with. Avoid sob stories.
That's for beginners.....
I've been in rental business most of my life. And tenant selection is primary.
It would be nice to find a young couple without pets. I have had success with teachers. I would not suggest students, but would not rule it out entirely.
Avoid someone who is in an extreme hurry to rent, as they may be getting booted from a current landlord. Look at their credit and get an idea who you're dealing with. Avoid sob stories.
That's for beginners.....
This post was edited on 1/16/19 at 8:20 pm
Posted on 1/16/19 at 8:33 pm to GeauxTime9
quote:
Renting my everyday home
Oh. Okay. Happens all the time. People move and rent their former home.
quote:
We are planning to rent our 3 bedroom house out.
Excellent. Three bedroom houses are very common and great for most families.
quote:
We plan to lock our master and use it as storage. This will save us from having to move a ton of furniture and renting a storage unit.
Well. That’s a twist. I can’t see how you’ll be able to find someone you trust enough to rent this house or find someone willing to take on that weird situation.
Posted on 1/16/19 at 10:21 pm to GeauxTime9
This sounds like a bad idea. Has tax (possibly both real estate and income) and insurance implications. The likelihood of them doing some damage of some sort is fairly high as well.
Posted on 1/17/19 at 5:52 am to Dawgfanman
Yea, that's going to be hard to do. If your set on it, you could look at renting to a company that needs temp housing for professionals.
Try AirBnB ?
I would probably just find a family member to house sit. Let them live there for free in exchange for taking care of it. I think you would come out ahead if you could get them to pay utilities and keep the yard up.
Try AirBnB ?
I would probably just find a family member to house sit. Let them live there for free in exchange for taking care of it. I think you would come out ahead if you could get them to pay utilities and keep the yard up.
Posted on 1/17/19 at 6:44 am to GeauxTime9
You’ll come out better hiring top shelf movers to put your furniture in climate controlled storage and rent out the house as 3bd 99/100.
Hire a property manager. You got enough shite going on moving across country for a year work assignment.
Hire a property manager. You got enough shite going on moving across country for a year work assignment.
Posted on 1/17/19 at 7:19 am to GeauxTime9
It would probably be wiser to rent the entire house and put everything else in a storage unit. Having the entire house for rent would net you more money to cover the storage and hell you could even pay for someone to move if you really don't want to do the work. Renting part of a house with your shite still in it you care about seems like a bad idea.
Posted on 1/17/19 at 8:56 am to GeauxTime9
Hire good movers and put your stuff in storage, don’t put it in a room.
Might also be a good time to sort through crap and throw old unused stuff out.
Might also be a good time to sort through crap and throw old unused stuff out.
Posted on 1/18/19 at 6:28 am to GeauxTime9
I know lots of people who do this. In some cases they leave the house furnished and rent it as is. People who live in two places part of the year often do this inititially to get some mortgage paid down.
Posted on 1/18/19 at 8:57 am to GeauxTime9
It's just a house and furniture. Sell it all. Buy new stuff when and IF you come back. The last thing you want is something constantly dragging you back to your original house. As landlord, you are still responsible for upkeep.
Also, you don;t want anything tying you down from the next adventure. Y'all are already making the just cross country. What if another better opportunity arises in another city somewhere else?
Also, you don;t want anything tying you down from the next adventure. Y'all are already making the just cross country. What if another better opportunity arises in another city somewhere else?
Posted on 1/18/19 at 9:05 am to CoachChappy
quote:
It's just a house and furniture. Sell it all. Buy new stuff when and IF you come back. The last thing you want is something constantly dragging you back to your original house. As landlord, you are still responsible for upkeep
Selling your house, moving, renting for a year including getting all the shite you need to live there, and then moving back and buying again all in a year sounds like a fricking nightmare. I'd pay good money to avoid having to do that.
Posted on 1/18/19 at 9:10 am to Mingo Was His NameO
quote:
getting all the shite you need to live there
What really do you need? A bed, couch, tv? It also depends where you are moving to. If you are spending 1 year in a city, explore the city, don't sit at home every night.
A young couple with no kids has the world by the balls. I wish my wife and I would've been more up to moving around.
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