i want to rent my house out whats the cheapest way?

Question

i`m going away to work an i`ve split from my girlfriend,i just spent every penny on my house but i don`t wan`t trash moving in to wreck it,my x and her cosin sed they need somewhere to live,so i`ll go thro a solicitor to sort it out,any idea which way to go about it?

i should add i`m renting the whole house and i am getting a solicitor to sort out the 6monthly contract

Answer 1

don't do it dude unless you get seriously good references, a whacking great deposit and months rent in advance off them, make sure you have rules about smoking in house, whether they can paint , furnishings etc, take full inventory, I just found out the hard way. We rented our first house out to people we thought we knew, they owed a £1000 in rent arrears, we kept chasing and they done a bunk on Friday. Our lovely house is a wreck, front door smashed in, cooker stolen, lamp stolen, garden trashed, all carpets and flooring stolen, damage to walls, I am sick as a parrot because I trusted them and didn't take a deposit because we thought they were friends as we knew their mum. trust no one mate. You also, according to where u live, have to have fire safety inspections, take responsibility for repairs (they have parties and smash windows and you get to foot the bill and repair them) get called out whe nthe heating gas water or electriticty goes off, if you have any sense you have to get insurance to cover what the tenants might wreck and make sure its ok with your mortgage company- stress itself. We lost thusands over it and now need to spend thousands more repairing the property and selling it lately rather than leave it empty to get wrecked in a tough area of liverpool..if you do let your cousin move in, set down all the ground rules before and incorporate them into your tenancy agreement. Good Luck

Answer 2

I really would strongly recommend you do not rent to your ex and her cousin, the reason being as they will expect and you will feel obliged to offer a deal, plus should there be any problem it will be super awkward to kick them out. With a unknown tenant you wont have that emotional component to be levered with.
Secondly, I would strongly advise going with a letting agent. You pay them a small fee and they run checks on employment, credit and references. They will hold a deposit and inventory and issue a proper tenancy agreement. Not having a letting agent is a false economy because without one you are more likely to have problem tenants who will allow your home to deteriorate, not pay the rent on time, etc. Plus with you going away to work you will have the reassurance that every thing is ok and you wont be having the tenant ringing you up every five minutes to tell you the toilet isn't working or the washing machine has flooded - the agent deals with all that. What ever you do, insist on a Direct Debit for rent payment and then you wont get all the 'oh I'm a little bit short this month' rubbish. I know I sound very pessimistic, but trust me, the more firmly you arrange things before you let it out the less stressful it will be for you and the nicer to come home to when you do. Best of luck!

Answer 3

1. Take a two or three pictures of every room, the yard and the outside. Have them developed immediately to date them.
Place them in a file for the future, should you need to show the move in condition of the property.

2. Get a VERY HEALTHY Security Deposit.

3. Get First and Last UP FRONT.

4. Get an thorough, signed lease signed by all parties, should you need to go to court later. The lawyer or managing Realtor can do this for you probably, depending upon your state.

5. Have someone, in town to keep tabs on the property. In Florida there are Realtors that manage properties for people living out of state. They probably screen the tenants for you. Of course they make a percentage. But it would be worth it to keep your property in excellent condition.

6. DO NOT RENT TO FAMILY OR FRIENDS. UNLESS YOU ARE AWARE OF EXACTLY HOW CLEANLY THEY LIVE AND HOW WELL THEY PAY THEIR BILLS.

7.Check with previous landlords as to how the potential tenant left that situation (financially and in cleanliness).

8.Get a Tri-merge credit bureau report (from all three bureaus) Just to be safe.

GOOD LUCK.

Answer 4

Go to an estate agent who will be liable for the property being
maintained and the collection of rent.A percentage fee going to
them.Do you really think your x will look after it ok with her cousin
What if once signed she has her new guy move in and refuses to pay rent.Court proceedings to get them out take a few months
and shes laughing at you when she ends up paying £10 a week.
If your lucky.But if you trust her you can get a solicitor to write up
a tenancy agreement and she pays rent to an agent or bank
account you open or give.Cutting out the middle man saving you money.

Answer 5

Go to your local council and let the housing association use it. They will sort the tenants etc and will be responsible for collecting rent etc and sorting any damage. You will also be doing a family a favour.

I would advise against the ex unless you split on very good terms. But if you do go down that route itemise everything, photograph everything, and legalise everything.

Answer 6

For some advice please do not rent out rooms. It could be alot of problems. I would rent out the whole house and up the renting amount. The Higher the amount, the better your chances of not just getting anyone. Hope this helps.

Answer 7

that can be a rough gamble. you are having your ex and her family member rent-are there any hard feelings there?will your house be trashed when you get back. I would definetley have a contract drawn up-you can get them at office depot with as leasse agreement too. I would consider renting to a stranger with god references first. good luck.

Answer 8

rent out the rooms to people you know preferably so you know it doesnt get trashed and they look after it!

Answer 9

Post it in CRAIGSLIST very popular site and you will get results for sure. I use it all the time to buy randam stuff

and it is FREEEEE!!!

Answer 10

bad move
hire a security firm to keep a look on it