How To Rent A House Out

[WiseGuy]

I'd love to hear all advice about selecting, buying, then renting a home.

 

[govols74n]

I'd love to hear all advice.

Become a UT coach....you'll be renting it out in 3 years.

 

[malinoisvol]

Keep a lawyer on retainer.

 

[YankeeVol]

It f'n sucks.

 

[governmentmule]

get a good contract made up first,especially the part about getting em moved out in a hurry, if they have quit paying

 

[TNsnyper20]

It f'n sucks.

Pretty much my experience.

 

[governmentmule]

get a good contract made up first,especially the part about getting em moved out in a hurry, if they have quit paying

hmmm are you the rentee or the renter ?

 

[smashmouth98]

find good tenants.

Do background /credit checks & call their references.

same renter for over 4 years. knocking on wood.

 

[n_huffhines]

Management company, IMO

 

[YankeeVol]

Management company, IMO

Don't use RPM. They were terrible. At least in Columbia SC

 

[McDad]

I'd love to hear all advice about selecting, buying, then renting a home.

I rent property. Residential and commercial.

1. Gain experience on someone else's dime before you invest your time and money. Work for a management company, or manage a complex.

2. Know your state laws.

3. Avoid mortgages; or only carry moderate loan to value ratios.

4. Research the market for your area and property type by looking at lots of properties for rent.

5. Know the demographic of your target tenant.

6. Get EVERYTHING in writing (application, contract, addendums, repairs, notifications).

7. Screen aggressively.

8. Abide by the contract regardless of circumstances (and there are many on the tenant side).

9. Keep great tenants happy...make it hard for them to move.

 

[Otis07]

Don't do it

 

[gasguy98]

I'd love to hear all advice about selecting, buying, then renting a home.

One word:
DONT