Thinking about...

renting out our condo if we can't get a buyer before we want to purchase a new house. My question is, how do you go about finding a responsible tenant? Our fear is that we will rent it out to someone and they will destroy it and we will have to put more money into it before selling? Help ladies! Thanks

Re: Thinking about...

Credit checks. Credit references & lots of prayers!

Re: Thinking about...

a huge background check. it might be tedious, but you'll regret it if you don't! when DH and i rented the place we're living in now, we had a million aspects checked (notarized letter stating employment and salary, statements from utilities companies saying that we paid bills on time, credit checks). it seemed a little extreme, but think about what they could lose financially if they don't check all of those things.

Re: Thinking about...

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Posted by miamimerger

a huge background check. it might be tedious, but you'll regret it if you don't! when DH and i rented the place we're living in now, we had a million aspects checked (notarized letter stating employment and salary, statements from utilities companies saying that we paid bills on time, credit checks). it seemed a little extreme, but think about what they could lose financially if they don't check all of those things.

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EXACTLY!!! A whole life story basically is what you want Lauren. Its not that bad though. As a landlord you need to seriously cover your tushie. Its hard & you dont want to start dealing with evictions etc cause then you stand to lose alot of money and time.

Re: Thinking about...

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Posted by VickiR510

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Posted by miamimerger

a huge background check. it might be tedious, but you'll regret it if you don't! when DH and i rented the place we're living in now, we had a million aspects checked (notarized letter stating employment and salary, statements from utilities companies saying that we paid bills on time, credit checks). it seemed a little extreme, but think about what they could lose financially if they don't check all of those things.

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EXACTLY!!! A whole life story basically is what you want Lauren. Its not that bad though. As a landlord you need to seriously cover your tushie. Its hard & you dont want to start dealing with evictions etc cause then you stand to lose alot of money and time.

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It can take a LONG time to evict someone

Re: Thinking about...

You can use a property management company. They handle everything!! I highly suggest it to avoid the headache.

Re: Thinking about...

be careful......a good credit report and references can still make a bad tenant. I have had horrible neighbors as far and noise and stuff and on paper the landlord said they looked perfect.

I would not rush into renting the place. It has only been on the market for a few weeks. Why not just wait a bit to see what happens with selling it. Plus trying to sell it when you have a renter is a tough situation....they wont care about if the place is clean for showings.

In this market a place can sell in days or years so I would just sit back and wait it out for longer than a few weeks.