My husband and I love being landlords, and our newest niche is allowing leases from tenants who are willing to rent sight unseen. Even though we are willing to allow it, I found out from calling around that most companies will not allow these type of leases. For us, it is another way to serve our customer base as 5 out of 8 of our leases over the past two years have been from renters willing to sign a lease on our house sight unseen. Since my … [Read more...]
How to Rent Your House in One Showing
Renting your house out is the most stressful part of being a landlord. I've learned a lot in my time as a landlord and I want to share my tips with you. Here are 5 tips to get your house rented fast at market price. How to Rent Your House With These 5 Easy Tips: 1. Price the House Right: If your house is over-priced by even $50.-$75. then your showing numbers will be greatly reduced and the prospective tenants will not be as serious. 2. … [Read more...]
How to Choose the Best Lease Term
There are many different types of lease terms and they have different pros and cons. Here are a few examples... Three Lease Terms to Choose From: 1. Month To Month (M-to-M): Pros: A short term lease allows either party to break the lease with 30 or 60 days notice depending on the lease. Cons: Tenants can break the lease at any time with proper notice. This is a problem if there are definite moving seasons in your areas. Ask … [Read more...]
The Solution to a Broken Lease: The Buy-Out Clause
Tenants breaking the lease was one of my most common "issues" and seem to occur regularly. The default legal language does not allow for any penalty for breaking a lease beyond holding a tenant to the lease until a replacement has been found. The Problem: Landlords, by law, are required to re-list the house and show the house in a good faith effort. I have never lost a day of rent so I was always penalized. It made me very upset that … [Read more...]
Should You Rent or Sell Your Home?
Not sure if you should rent or sell your house? Take this quiz to find out! Rent or Sell Quiz: Can you afford to cover maintenance on the house or other sudden expenses? Are you willing to treat the house like a business and not a home? Can you hold onto this house without being prevented from qualifying for future houses? Are you willing to hold onto the house for long term? Do you like other people paying your mortgage? Are … [Read more...]