I really don't like my house. I qualify to own both houses, it just seems risky to own both, and to become a landlord on top of everything else....
2006-07-08 12:22:34 · 9 answers · asked by Ren 5 in Home & Garden ➔ Other - Home & Garden
Well, if your house is livable, and you need the income, and would rather live in another house, yes, do it! But first, be sure you can come up with the down payment, and the cost to advertise your house under house for rent, in the classifieds. But if it's not livable, you have to make it so, before you can rent it out. I'll bet you an ice cream cone, you end up liking it, after it's fixed up, to be rented.
2006-07-08 12:27:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Jeffrey M is a moron!
How can over 50% of all households be rental and not be profitable. What does he think; there's and agency that handles all rentals as a charity!
You're on the right track. You stated that you qualify for both; meaning that you've put some thought into the situation and aren't just one of those people that are flippant about things and don't follow through.
Another good point was already brought up about someone to possibly manage the property for you. If you can find a competent leasing agency it's well worth, not what you spend, but the little extra you add to the rent to cover not doing it yourself.
I have a 44 unit building and I haven't been in it or seen it in years and I don't care to. All I need is that monthly statement and to know that everything is running smoothly. The x% management fee doesn't cost me anything because if it wasn't for them, I'd have to physically do it myself and like they say, "Time is Money!"
2006-07-08 20:00:19 · answer #2 · answered by LOL 2 · 0⤊ 0⤋
I am a landlord and believe me, it can be a pain in the butt. You'll need to screen well to make sure your tenant is able to pay rent on time. Check with past landlords to see what kind of tenant they were. You need a legal lease where you set the rules. If they are broken, evict.
2006-07-08 19:31:22 · answer #3 · answered by Classy Granny 7 · 0⤊ 0⤋
it rarely pays to rent out houses as the rent received most times is not even close to being enough to justify ownership
2006-07-08 19:32:17 · answer #4 · answered by jeffrey m 1 · 0⤊ 0⤋
Sure, if you can do it. Sounds like a good way to get someone else to pay for your house.
2006-07-13 15:53:17 · answer #5 · answered by Bowllynn 7 · 0⤊ 0⤋
Try to get an agency to do the work. Costs a bit but you can go on about your own bizz.
2006-07-08 19:26:06 · answer #6 · answered by Puppy Zwolle 7 · 0⤊ 0⤋
no u can never know 4 sure that the house is taken
2006-07-08 19:42:33 · answer #7 · answered by pretty181spoiled 1 · 0⤊ 0⤋
If thats what you really wanna do then go for it. Going for what makes you happy is your best bet.
2006-07-08 19:26:08 · answer #8 · answered by moonprincess1416 2 · 0⤊ 0⤋
yah go with what u want u might not be able to find it again
2006-07-08 19:26:22 · answer #9 · answered by justin 1 · 0⤊ 0⤋