Anyone rent out property?

[92 5 oh]

i'm looking at renting out my house. i was speaking with my realtor and they mentioned that i can pay for a property manager who will collect the rent each month and deal with any questions or issues the renter has. it would be about $150 a month. does anyone do this? is it worth it?

thanks
steven

 

[ASMODEAN]

I rented out a trailer (doublewide on a 5 acre lot) about 9 years ago. If you can get 15% more a month than the note is or was I say go for it.

The only problem I had was the fact that the couple living in the house were slobs and kept pets when I told them they couldn't in the lease agreement. MAKE DAMN SURE you get a security deposit, first and last months rent and get someone to draw up a yearly contract! DO NOT let them talk you into paying month to month after the contract runs out!!!!!!!

Funny thing is now I have my dad living in the dblwide for half of what I was renting it for but he keeps the property cleaned up and pays ALL of the utilitys.

 

[Surrey]

If you are not willing to deal with the hassles that can come with renting, a property manager could be a decent option, it all depends on wether or not you feel it is worth the cost.

Renting a property is not a lot of work if you know the laws. (which I would assume change from state to state. Here in BC we have whats called "Residential Tenancy Act" you probably have something similar) Give it a read-through... Most people dont understand the laws surrounding damage deposits, evictions, and lease restrictions (such as pets)

 

[trail B2]

If it was in my town I would rent it my self.I believe the way to go is take about half what your giving to property management and discount the rent.If the property is a fairly good deal you can be a lot more particular about who rents it because a lot of people want it plus its not empty as much.Property management in my town has a bad reputation make sure you go with some one people don't mind dealing with if you go that route.

A man I worked for last summer gave me two tips put in the contract that if the rents late it goes up and give fast service on repairs for a professional relationship.I'm a trailer rent out back guy but he had a few rentals and was making money with them.

 

[gribly]

Yeah, we got a couple trailer parks and a few houses. Each park has a manager, that is necessary for a large setup. One place, though? I'd do it myself, as long as you are not a pushover. If you don't think you could handle asking for late rent money - don't do it.

 

[ozziemo27]

If you don't think you could handle asking for late rent money - don't do it.