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I bought a small house in my town in a decent area right before the housing bubble burst. Now 5 years later, I can't sell it for what I owe on it. So, I rented it out. I remarried and have more children now than I did when I bought the house so living in it wasn't an option. We've had one tenant who was great at first. We did a 1 year lease with him and collected a security deposit. The poor guy decided to buy a house while still in his lease with us. He is still paying rent but has moved out. I went over to the house to do a quick clean up and discovered the water and electricity is off. It clearly says in our lease that he is to keep the utilities on until we re-rent the house in which case his lease could be terminated and he would be off the hook. We are only renting it for what we owe on it. Since he moved out, we've shown the house several times and approved a couple of people but no one is biting yet.
I can't imagine doing this for a living. I rented for years before I bought this house and always took care of the property I rented and fulfilled my lease agreement. Ugh!
Answer by Dardenella at 1:18 PM on Aug. 22, 2012
My parents own 23 rentals. One day it will be mine and my sisters. Oh, joy (insert sarcasm). I have helped my dad with the rental units from time to time. Have you considered having a rental management company handle this property for you?
Answer by JeremysMom at 1:19 PM on Aug. 22, 2012
Answer by slw123 at 2:31 PM on Aug. 22, 2012
Answer by booklover545 at 11:38 AM on Aug. 23, 2012
Answer by tasches at 6:57 PM on Aug. 23, 2012
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