Renting our your home
- Thread starter DallasRed
- Start date
Turn it over to a real estate agent, then they can worry about collecting the rent and damages(if any) or repairs. Just an idea, might be worth what they charge for handling it. JMO
Jigglepuff
Chin Jiggla!
Also.....don't accept Section 8.
desertrat
0_0
I rented mine in AZ for about fours years. It was a good deal taxwise. I went out once a year (tax deductable) to check on it. Get someone to manage it for you if you have a friend there that would do it. All they have to do is drive by once in a while and be an intermediary. Pay them 5% of the rent (deductable). If something needs doing they make the calls, etc. Get references for renters and give someone you feel would take care of the place well a break on the rent. You can get lease forms etc. online. Oh, I also have managed two rentals for friends.
GWguy
*
Don't know if it still applies, but you used to be able to deduct travel expenses on your taxes to check up on your rental property.
Personally, I wouldn't do it. Just wouldn't want to be an absentee landlord on a property so far away. But I know many that have done it and did not regret it.
Personally, I wouldn't do it. Just wouldn't want to be an absentee landlord on a property so far away. But I know many that have done it and did not regret it.
JustTheFax
On the Right Side.
It may be a better idea to rent it out rather than try to sell it now. Property values will go back up and the appreciation combined with the deductions now will be worth it in the long run.
sweetpea15
New Member
i had my home rented out for 8 years and i listed my house for base housing. that way i got the military families. Never had a problem. They took care of the house like it was their own.
I'll have to look into that...Dobbins isn't that far from my house..NAS Atlanta is gone...
Thanks
onebdzee
off the shelf
DON'T use a rental agency!!!Me and my ex rented our house in Va while we went to Japan....what a disaster....we hired a rental agency to do all the stuff for us(collect deposit and rent, fix all repairs, etc)....the first person they rented it to didn't have the full deposit, then she didn't have her rent....she moved out after a month and a half....the agency didn't even know she was gone....they did nothing but try to rent it again
Which they did....this woman had her full deposit and first months rent....then never paid again....the agency took the "the checks in the mail" excuse for 2 months worth of rent
Of course they got their "fees" for renting it, but they didn't do anything when the renters bailed on the lease...All I got on the phone(long distance from Japan) when I talked to the rental manager was "if you want to go after them for the remainder of the lease, you have to do it yourself"....After 6 months and 2 renters, we got $123....minus 6 months of mortgage payments
flyingdog
Member
Hmmm, I suppose the question you have to ask youself is why you are renting it out? If it is because you know you could not sell it in today's economy then okay. But if you are doing it to try to make a bit of money, then I would say just sell it. By the time you get done with having it sit empty by renting it and then all the time you put in managing it, even with an agent, I can't imagine it being worth it.
That being said, we have been renters the last 3 years and like to think we are great. Never a prob with rent and treat the place like it's our own. Then again, we are moving out, so now he still has to deal with renting it and it is a tough market...we've had at least 12 folks come by and look.
Good luck to you!
