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Does anyone have a rental property?

Is it a pain to rent property out to others?

 
Renee3K

Asked by Renee3K at 4:39 PM on Apr. 13, 2011 in Money & Work

Level 20 (8,734 Credits)
This question is closed.
Answers (4)
  • My parents have 20 rental units that will one day be mine and my sister's. My dad is trying to show us some of the ropes now. The best thing to do is to go to the court house to find out if the applicant has ever been evicted before and to call to make sure they have employment. Even with doing that he said that 1/3 of the renters will be awesome (they pay on time and keep to themselves), another 1/3 will be okay (they may pay on time or maybe a few days late but they may give you problems such as keeping the yard cluttered), and the last 1/3 will be horrible renters ( pay late all the time, behind on rent, or not pay at all). He told me the key is to weed out as many of the horrible ones as possible. Don't let them get too far behind in rent, go ahead and do the eviction process as soon as your state allows, etc. Cont...

    JeremysMom

    Answer by JeremysMom at 5:05 PM on Apr. 13, 2011

  • Not if you select your tenants and maintain your property in good condition.
    older

    Answer by older at 4:46 PM on Apr. 13, 2011

  • Cont.. Soon you will have some very good renters. Some of my dad's renters have been like family because they have lived there so long. Good Luck!
    JeremysMom

    Answer by JeremysMom at 5:05 PM on Apr. 13, 2011

  • Its harder to do this long distance. We're 3 hours away and we've had problems with our tenants.
    jmpj8107

    Answer by jmpj8107 at 11:03 AM on Apr. 14, 2011

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