I am going to rent out our 1999 Mobile home we are currently living in, we need to know the steps(legal) to protect our property and everything else that goes along with renting. If you could give me some tips, information , ideas anything. (lengthly responds are welcome!)
also
We are thinking about $600.00 a month , its on private property in the country, no parks. Is that a fair price(to high to low)
Thank you for your help!
2007-10-22 08:13:30 · 5 answers · asked by My3kin 3 in Business & Finance ➔ Renting & Real Estate
It depends on how much similar properties are renting for in your area.
While you didn't include information about the amenities; bedrooms, etc, it will be important to price your property at or around the same price for homes or apartments in your city/county.
You also want to get a rental contract with the tenants and collect a security deposit. A rental contract can be purchased online. Make sure the contract clearly identifies tentant responsibilities and rights. Also clarify rules related to subletting, maintaining the property in liveable condition and other rules.
See this page for help on the contract:http://www.documatica-forms.com/usa/residential-lease/
Good luck.
2007-10-22 08:25:01 · answer #1 · answered by ken erestu 6 · 2⤊ 0⤋
I did that once and, believe me, once was enough. Trouble with collecting the rent, with being called for every little problem, or suspected problem, and worst of all having a tenant leave owing rent and after trashing the house was enough. After spending a bunch of time and money repairing everything I got rid of it. The biggest problem is with deadbeats. In most states it's almost impossible to evict them. Make sure you have a well written lease. Talk to an attorney on what form is best. Good Luck.
2007-10-22 15:33:10 · answer #2 · answered by mustanger 7 · 1⤊ 1⤋
Renting will hurt you, it is not there property they may not take care of it like you would.
And they know more loopholes then we do.
Good luck
Mark
2007-10-22 15:24:03 · answer #3 · answered by Anonymous · 0⤊ 1⤋
it depends on what state you are in...how close it is to commute to the city, if it includes bills or not, if it includes a washer and dryer, garage or not,howmany rooms it has and storage space etc..does the tenant have to mow or do you provide the mowing etc etc
2007-10-22 15:21:43 · answer #4 · answered by cristelle R 6 · 0⤊ 1⤋
no
2007-10-22 15:16:26 · answer #5 · answered by cold p 1 · 0⤊ 1⤋