Do you rent or sell?

Elizabeth26 · #1 09-19-2007, 04:09 AM

I don't know if I really want to be a land lord because it comes with a lot of work. Do any you guys rent out any houses or apartments? Can you share some of your experiences?

beangel40 · #2 09-20-2007, 03:45 PM

I guess the answer really depends on the person who has the home weather of not they want to rent or sell and yes you are right being a landlord is a huge resability you have to make sure everything is kept up to code and that you have the proper insurence for covering your own investment in my own point of view i would sell the stress of having to make sure the people i rented to didnt destory or damage the property i rented to them . hearing all the complaints and grivences would drive me crazy.

stephpoet · #3 09-20-2007, 05:32 PM

Land lording can be a LOT of work. However, it helps you really have a growing investment with little expense to you. I would give it a try.

beangel40 · #4 09-20-2007, 06:42 PM

yes having property is a great investment but renting to prospctive renters is a hassele how can you have income unless you have multiple propertys to rent you have to make sure the house payments are made the house insurence the property taxes and have money for any and all repairs to the rental property one home dose not a income make

Elizabeth26 · #5 09-25-2007, 08:18 PM

I think that I would try being a landlord but I would like to flip a couple of houses before renting a house. Also, I don't see renting that profitable unless you have more than one property.

bartongrl1 · #6 09-25-2007, 10:21 PM

I agree with you on that one. I wouldnt rent either unless I had several properties. Yes, you can get a security deposit when the people move in, but a lot of times the damages done out weigh the amount of the security deposit.

I know that I am not cut out to be a landladay. I dont have the patience that it would take to deal some renters. So for that reason, selling would be my option of choice.

Elizabeth26 · #7 09-25-2007, 10:37 PM

Quote:

Originally Posted by bartongrl1

I agree with you on that one. I wouldn't rent either unless I had several properties. Yes, you can get a security deposit when the people move in, but a lot of times the damages done out weigh the amount of the security deposit.

I know that I am not cut out to be a landladay. I don't have the patience that it would take to deal some renters. So for that reason, selling would be my option of choice.

I wouldn't mind renting to elderly people. I have a problem renting because I don't want anyone damaging a property that I put a lot of work in. I was talking to one of my friend and she was suggesting that we buy some rental properties in our hometown. I told her I would consider the idea but it's a little more complicated then just buying some properties.

bartongrl1 · #8 09-25-2007, 10:58 PM

I had rented one property that I had, and I would never do it again.

The lease said 1 pet allowed. They had 13. And the damage was awful. The faucet in the bathroom had been leaking and we were told 6 months later, consequently my husband had to replace part of the floor and some drywall.

Elderly folks would be a better option, in my opinion. They tend to stick with the lease better, I think.

Elizabeth26 · #9 09-25-2007, 11:02 PM

Wow, I can't believe someone had 13 pets. Did you sell the property?

bartongrl1 · #10 09-25-2007, 11:19 PM

No, we didnt sell. After we finally got the family out of there, and had completely gutted the bathroom and adjoining hallway because of water damage and looked around and saw so much more that needed done, we tore it down. It just wasnt worth the expense of fixing it up.