I am trying to rent my home. This is the first time I am trying to do this, and I would like to have some help from people who have been there. Does anyone have a good rental contract that they can send me? I am renting from the state of Texas, so I do not know if they do it differently. I have to move out of state because of the military, so I will not be able to be around the property. I know that a property manager would be the best bet, but I do not think that I can afford that. If you got any ideas or suggestions, please let me know. lampasashome@hotmail.com Thanks again!
2006-10-26 15:01:09 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I understand your problem. But here is a little heads up: You can have the best contract in the world, if you are not there to enforce it, the contract does you no good.
Being in the military, it is doubtful that you will be able to return to your property on short notice to take care of any emergencies (either maintenance or tenant related). My honest and heartfelt suggestion to you is to shop around for a good property management company.
Most property management companies charge a percentage of the rent collected as their fee (usually around 10%). For this fee, they will rent your home out, screen the tenants, schedule needed repairs, etc. Your contract with them can be as general or as restrictive as you agree to.
The advantage to a propery management company is that there will be some one there to handle any problems that may arise while you are stationed elsewhere.
Check with your headquarters to see if there is any one comapany that they may recommend. See if any of these companies will give a military discount. (I only charge 7% for full time military)
Finally, if costs is really that big of a concern, ask for a higher rent but give some perks that are not usually found (ie: pets allowed)
e-mail me if you need more info.
2006-10-26 17:57:43 · answer #1 · answered by CMR2006 3 · 0⤊ 0⤋
A bad tenant can do about $15,000.00 damage to a home in half an hour without tools.
Rental property is a good investment. Spend the money for a professional to manage it.
2006-10-26 22:38:04 · answer #2 · answered by open4one 7 · 0⤊ 0⤋