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Anybody on here rent property?

SCP

By SCP,
in Huddle Lounge

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SCP Enthusiast

SCP

Posted
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We are looking at buying a new house and its going to be impossible to sell our current home for awhile. Considering renting it. The other rentals on my street are getting some good coin. Is it worth the hassle or should I get a property mgmnt firm to deal with it and just pay them their 10%?

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Anybodyhome Grand Master

Anybodyhome

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Read the fine print and make sure you know what's included in that 10%.

I rented my beach house for 4 summers until it was paid for and it was running me 16% (10 years ago). They did the cleaning between renters, repairs, emergency calls, inventory, etc. Well worth it when you're 4 1/2 hours away.

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Kurb Newbie

Kurb

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Whatever you do, don't rent from TR Lawing. My girlfriend's family has been without heat, water, electricity for 3 months and they are still having to pay 900+ dollars/month. Have called the rental company many times but they won't send someone to fix the problems. It's pretty miserable for them

Pretty sure that is illegal.

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Inimicus Mentor

Inimicus

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Whatever you do, don't rent from TR Lawing. My girlfriend's family has been without heat, water, electricity for 3 months and they are still having to pay 900+ dollars/month. Have called the rental company many times but they won't send someone to fix the problems. It's pretty miserable for them

Without water the county typically condemns the property as its unsanitary.

Your girlfriends family needs to call the code enforcement office.

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Inimicus Mentor

Inimicus

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We are prepping a house for renting. We moved out over a year ago and having sat empty for that long now it needs repairs.

When you go with a management company do they provide the lease or do I still need to pay a lawyer to write one? If the mgmt co has their own is that something I would have any input on or is it just something I have to let them handle?

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SCP Enthusiast

SCP

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We are prepping a house for renting. We moved out over a year ago and having sat empty for that long now it needs repairs.

When you go with a management company do they provide the lease or do I still need to pay a lawyer to write one? If the mgmt co has their own is that something I would have any input on or is it just something I have to let them handle?

Good questions. I guess I just can't go to legalzoom.com and write a lease.

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Guest

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Posted
Posted

We are prepping a house for renting. We moved out over a year ago and having sat empty for that long now it needs repairs.

When you go with a management company do they provide the lease or do I still need to pay a lawyer to write one? If the mgmt co has their own is that something I would have any input on or is it just something I have to let them handle?

In my case the lease to the renter was provided by the mgmt company.

Property mgmnt firms find you renters to I assume?

yes mine charged one month's rent as a fee to run credit/background checks, put the house on MLS, sign in yard, etc etc. It was bullshit but it got the job done.

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Zcustom Newbie

Zcustom

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I do! But I'm the lowly renter, not the landlord. I pay my rent on time every month and take good care of the place, rarely call for any fixes either. That must be why I've had landlords fighting over me as a tenant.

We'll be buying a house in the next couple years though, that'll be nice.

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