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I've rented trailer homes and read about the subject. The major difference is that you have the home and you have the land, and those are two entirely separate things. One common arrangement is for someone to purchase the home and rent the land. Buying homes and renting them out to others without owning the land may be difficult, and you might need the consent of the landowner to do that. The laws regarding mobile home tenancy are often entirely separate from those that cover other dwellings, so you need real estate professionals that are experienced in this specific field.
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Oct 13, 2013 05:30
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| # ¿ Apr 29, 2024 05:35 |
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I live in an area with low rents in the US midwest, and anything above a dorm room has a full-size refrigerator, freezer, and oven. If you don't have those essential appliances most tenants will dismiss the place out of hand or ask for steep discounts. Having an onsite washer and dryer is pretty standard in any apartment complex except for the smallest ones, although most of them are coin operated. Edit: Also, newer appliances are a major selling point at all rent levels, and are a good way to differentiate your property. If you're renting lower end property, having a fridge that is less than 5 years old will allow you to raise your rent to cover it, since nobody wants to pay the electric bills for an old one that is more likely to fail and spoil all your food. Konstantin fucked around with this message at 18:54 on Oct 19, 2013 |
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Oct 19, 2013 18:44
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Keep in mind that making part of the deposit nonrefundable may be illegal, I'd just reduce the deposit and raise the rent by enough to make up for it. Also, interacting with tenants at work has downsides, since it may import drama if the tenant is behind on the rent or you happen to find out they are violating the lease in other ways.
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Mar 27, 2015 18:44
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A lot depends on what you're renting and the market. Craigslist is fine most of the time, but I'd avoid it in certain situations. If your property has specialized features, you may want to focus on a specific market segment. If you are in a very hot market, you may not want to have a hundred rental applications from random people to screen. A sign out front can be surprisingly effective, as people who see it already have some connection to the neighborhood, even if they are just driving through it. Plus, it informs the neighbors that the place is vacant so they can tell their friends.
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Dec 14, 2015 01:01
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Why not just amend the lease to reduce the rent and exclude the in law suite from the area you're renting, letting the landlord deal with finding a tenant? Seems a lot simpler, and you don't have to bother with the tax issues or dealing with a bad tenant.
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Jun 18, 2016 22:04
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My father recently became an involuntary landlord due to some old divorce issues that were never properly settled. He has some tenants, but wants to kick them out and move there himself in May. Currently he lives about 200 miles away, and has a property management company. There is no active lease, it's just month to month. How much notice should he give? Just the minimum 30 days, or should he give them a few month's notice? Obviously he wants to minimize the chance of a hostile eviction. State is MO.
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Sep 6, 2016 21:52
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You could always contact the landlord and ask to extend the lease. If they weren't planning to raise the rent they should agree to do so, since it gives them assurance that you won't move out with 30 days notice.
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Dec 26, 2016 04:34
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In general, tenants can't be expected to do anything beyond mowing just enough to prevent the neighbors complaining to the HOA or city. Even that might be too much to ask if the property isn't a detached single family home in a neighborhood where people take care of their lawns. Tear out the xeriscaping and put in the same grass everyone else in the neighborhood uses.
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Sep 8, 2018 02:48
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| # ¿ Apr 29, 2024 05:35 |
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I'd also get the sewer mains scoped on any older investment property. A collapsed sewer line could cause a lot of damage from backups, cost tens of thousands to repair, and leave your tenants without sewer service for an extended period.
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Jan 8, 2019 01:44
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