Thread: Renting Issues

Well,why are you that afraid to get your house rented? Is not hard to get a good tenant,you just have to set your rules and standards prior to your house maintenance. But be sure also that the property is in a good condition before renting it out, for better income.

The maintenance of the house is the most important fact0r t0 c0nsider t0 have g00d tenants. I guess, the contract of lease is y0ur assurance that the tenant w0uld be liable f0r any l0ss/damage to your pr0perty.

Firstly don't be afraid of people as it can be difficult for you be find an tenants at all and secondly, buying the cheap property is not the way as you are going to have a lot of problem wit it. I mean repairing and all this stuff.

Having a good tenant is not difficult,but make sure before you accept them,checked first their personal background by asking them about their job if have by this you'll have idea if your tenant can pay or not,and asking them about their last home,what's the reason why are they looking for another house? and make their answers as the basis before you accept them.

I understand your delema. A bad tenant can be a real nightmare.

You should request a bond from the tenant, before moving in. This is a refundable amount of money, and there are rules about how much it should be, who it is paid to and how to retrieve it.It is the legal contract.

If you are investing on a relatively small scale and can afford the time to interview the prospective tenants yourself, then you limit the number of problems, assuming you're a good judge of character!

Nevertheless, get as much of a security deposit as your local market dynamics will support.

The first thing you have to do is make sure you buy a house in an area where there is high demand for rental properties. Get the local newspaper and read the ads for rental houses.

Are there an unusually high number of rentals avavilable compared to the population?
Are the same ads there from 3 months ago?

Call some rental agencies and pretend to be a renter and see how much inventory they have.

If you try to rent out a house in Detroit right now, you will have a hard time finding any renters let alone good ones.

You need to get approval from the tenant to keep your house in good condition and for this you need to outline all the terms and conditions crystal clear and straight forward. You need to get that signed. good luck anyways. but keep in mind that house will not remain in good condition provided you go for proper check and balance on regularly basis.