 Can a landlord rent a house and have it for sale at the same time? |
I currently rent a house, but as soon as i moved in, the landlord put it on the market for sale. So, i have to have various people trapsing round my house all the time.
Can the landlord ... |
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| It's a short sale and the fence is iron with a rolling gate. They want to take the fence with them when they leave.... |
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 Should we buy a house or wait??? |
My husband and I have been waiting 2 years to buy our first home. It has taken so long because our credit was too low. Now it is just enough to get us approved...
BUT my husband just put in ... |
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This room would be $500 a month including utilities. What should I be aware of
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 Owned my house for 10yrs. Then g/f moved in. Then remortgaged and in joint names. Now she wants half!!!? |
| I owned my house for 10 years. I met a girlfriend and after a few yrs she moved in. All was well. Then I remortgaged and she was going to start paying half the mortgage with me so it got put in joint ... |
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 Why in the hell would you people pay so much for homes? |
| I live in Texas and watch shows about people trying to sell their homes. I just saw the ugliest pos house that was only 1400 square feet sell for 499,000. What the hell could the person be thinking,... |
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 When potential buyers come to view my home, should i let them out of my sight?? |
| When people come to view the house i am selling, do i briefly show them round and then naff off so they can look for themselves, or does that just mean they might look under the rug and find the ... |
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ecogzie | I rent a house out, and the rent does not cover the mortgage but the house value has increased. should i sell? |
I have rented a house out for the last three years,the rent does not cover the motrgage but the value of the property has increased,is it worthwhile sustaining this loss or should I sell the property |
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Hasski
 |
I am in the same position. I have just let a property I knew would not cover the mortgage, however the capital apperciation is considerably higher than the shortfall. So as long as you are able to fund that shortfall from income (eg salary), and the capital gain is higher than said shortfall. KEEP IT!
Two things to consider when calculating shortfall;
- Are you able to raise the rent at next renewal?
- Is your mortgage rate fixed? If not, can you tolerate a 0.5% increase as it looks 110% certain it will happen before 2008 |
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bostonianinmo
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Compare your negative cash flow to the increased value of the home. That way you can decide if you're getting a good return on the investment or if your money could do better elsewhere. Don't forget the tax advantages to rental property either. Factor in the tax breaks and you may find that your negative monthly cash flow isn't so bad after all! |
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Paul C
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With property prices going up on average £45 a day in the UK i think you would be mad to sell, raise the rent AND try to remortgage for a better deal, you now have equity in the property to use as a larger deposit which will get you favorable rates, property investment is about long term gains these days. |
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spadezgurl22
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when they renew their lease raise the rent. if the tenants do not want to pay it then put it on the market. |
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Paul Rules
 |
Why not raise the rent to cover this? Ensure the correct period is given before the increase is implemented and then problem solved. |
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Sandra
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Why would you continue to sustain a loss? Raise the rent or sell. |
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Marky
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It all depends whether the gain is greater than the loss!!
Also, look into the tax implications when you come to sell, becuase if you own another house (inlcuding one you might live in), you will have to pay tax on the increase after 3 years.
Bascially, if you rent out a proprety for 4 years and it goes up £100,000, you will have to pay Capital Gains TAx on £25,000 (first 3 years free) |
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onesa
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Increase the rent if the property has sentimental value and you barely need the proceeds of immediately selling it. It is also having a passive income if you are not spending so much on its maintenance. |
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halestrm
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OK, sometimes a loss is a good thing, depending on what else is going on tax wise. If the loss is not substantial, it lowers what you pay in taxes. When you sell it, depending on the money you make, you now have capital gains, which will be taxed. If you can afford to continue to take the lose, I would suggest you crunch some numbers. Look at your past taxes and work them without the house. What is your bill in the end.
Rather than do it yourself, go to a CPA. They can do all the work for you and let you know what is going on. Remember, you are gaining an asset that should continue to increase in value. It could be that the tax savings is worth the retaining asset. |
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vix
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Well it all depends on how much you will gain from selling and whether it's a great loss.
Could you remortgage and get a better deal perhaps? How about raising the rent (particularly if the tenants are coming to the end of their lease or are looking to move out). |
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sclass_benz
 |
Raise the rent or sell, why take a loss every month? |
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Flossy
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If the value of the house has increased, surely even if the rent doesn't cover the mortgage, its still a good investment. Lets face it, its unlikely that the house price is going to go down, so I'd keep hold of it. Who knows, in another 12 months it might have gone up again!
Why don't you put the rent up? Surely if you give enough notice then you will be able to do that? |
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debbie2243
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always ask the mortgage price and the taxes and insurance costs for the house..you must pass that along to the renter to make a profit.
why would you let someone be on your property if you are losing money each month?
Personally I rent out houses and the profit is not worth the destruction and aggravation we incur each month.
If they stop up the toilet...the service call alone is $75.00 and why would you not make them pay for this? It was their fault. Take it off of the deposit.
a leaky roof now translates into thousands to put a new roof on.
the furnace goes out...more thousands out of your pocket. |
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Mustbe
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Raise the rent....never, rent lower than your payment.
I would not sell if value is going up. |
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PATRICK
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greed source of all evil |
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claire
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why doesnt your rent cover your mortgage???, thats the whole point of renting out. seriously thing about putting the rent up before you thing of selling. if you keep it for another cple of years thing how much money you will have made then |
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eriverpipe
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Sell... buy to let was OK for a while but is a mug's game now... |
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iceman
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Well how about increasing the rent?
3 years is a long enough time where a rent increase is probably due. And the renters will understand that if the value has increased. If they dont like it, time to look for new renters. |
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Stand
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OF COURSE you should either raise the rent or sell. I would say sell if the value has gone up recently. It may go back down just as quick. |
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