Renters?
#41
Super Member
Join Date: Mar 2008
Location: AZ and CT
Posts: 4,898
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All this sounds a bit negative, but it doesn't mean bad things will happen. You need to protect yourself 'just in case.' We've only had 1 tenant skip out on us and leave a mess in the 35 years we've been renting out.
Last edited by JoanneS; 04-05-2014 at 01:16 PM.
#43
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Just had to put my two cents in...not all renters are irresponsible . Having been a home owner for over 20 years, my husband and I lost everything due to medical reasons between him and my mom. Out of pocket expenses were $3k a month just for my Mom's cancer medications. My DH had quadruple bypass surgery, an abdominal aortic aneurysm , renal stent, cardiac cath, and vascular surgery all in a 5 month period. Things were very bleak but faith carried us through. When we lost out home ( bad economy and houses not selling) we needed to be renters ....luckily we found a great home and a great landlord. We take care of the home as if it was our own. Please give thought to those individuals who may have been down on their luck for reasons outside their control. Some people deserve a second chance.
#44
Member
Join Date: Dec 2012
Posts: 50
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We opted to rent our home when the market went south in late 2009. It was to be our retirement fund as the mortgage was almost paid off at the time.
Long story short: We have paid more in repairs than we have earned in rent. Unless you live very close to the original house: do not do it.
Long story short: We have paid more in repairs than we have earned in rent. Unless you live very close to the original house: do not do it.
#45
Member
Join Date: Dec 2012
Posts: 50
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You are not the norm in my experience. I wish you had been our renters. We had three sets before we closrd the house to renters. Even though our house was almost paid off we almost lost it in foreclosure when our renter kept paying just enough to lead us to believe they were sincere in wanting to catch up on the rent. This went on for too many months. Never again.
#46
Super Member
Join Date: Jul 2010
Location: Lebanon Missouri
Posts: 2,668
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You can also talk to their neighbors. Ask if they were good or bad neighbors. Now a days it is very easy to check out peoples arrest records. The worst kind of tenants are those that have drug priors and domestic dispute calls/arrests. We were landlords for several years and the only bad tenant we had was my husbands brother. He felt that being family he did not have to pay rent. As new landlords make sure you are explicit about repairs or painting etc.. Also get a hold of your area's Landlord and Tenants handbook. This will help you out in writing up your lease agreement. And get 1st and last months rent and a deposit up front. Saves you a lot of headaches when they move on.
#47
Senior Member
Thread Starter
Join Date: Mar 2011
Location: Sun City, AZ
Posts: 400
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Update: Our house was on the market for only four days, and we received a full-price offer! Although I'm sure there are good renters out there, I am very happy that we won't have to rent our home. Thanks, everyone, for your input and advice!
#48
Super Member
Join Date: Jun 2011
Location: Michigan. . .FINALLY!!!!
Posts: 6,726
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That is wonderful news! You beat our recent sale of our home in 8 days!!!! The market is good right now (according to our realtor)
#50
Super Member
Join Date: Aug 2010
Location: My Sewing Room
Posts: 1,180
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My home in Oklahoma is currently occupied by renters. They have been wonderful. They always pay, and if they are late, they pay the penalty without complaint. I have visited the home on occasion and found it to be in great condition. There are bad renters out there, but we got lucky. Just be sure your realtor screens them carefully.
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