 What do you think about the new big brother housemates and the house? |
| Big Brother 9 has finally started again but what do you think about the new crazy and really weird house mates, also what do you think about the new house personally i think it's great the ... |
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 I stopped rent to my landlord as waiting weeks for boiler to be fixed now she's kept my things is she allowed? |
| I have a 4 year old son & was left for about 10weeks without any heating & hot water I have since moved out but she refuses to give me my furniture because of the outstanding rent that i owe.... |
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 Landlord looses money order? |
| On dez 22nd i gave my apartment manager my rent check for january because i was going on vacation and wasn't going to come back till jan 7th. Today he comes to me and says that the office can... |
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 Is it weird to be worried that we'll buy a haunted house? |
| I don't know why, but this is seriously a secret worry of mine...... |
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 Whats going to happen in 3000? |
are there going to be-
-more tornadoes?? huricains, Rain, lightening ,
... |
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 Is it true that if i have a house i cannot sell it to a family member way below its value? |
Additional Details
there is still a mortgage on the house. i was told by a realtor that i could not do it.... |
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 Landlord has sold house with me as a sitting tenant where do i stand? |
| ( UK Scotland ) landlord has sold house and new owners want in within 2 weeks can he put me out onto the streets also i havent had notice to quit in writing, just told me verbally to move out is ... |
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 Whose responsibility is it to have a fire extinguisher? |
| i was just curious. i rent and we do not have one. i did not know if it ws the land lords to provise one and the tenants to make sure it woks or what. thanks!... |
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 Can a Landlord tell a tenant that they can not put up an above ground pool even if it has a locking fence? |
| My landlord threatens to evict people if they put up a fenced in pool for their family. I want to put up a 24'x4' pool and have a fence for it with a locking gate. There is no written lease ... |
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 Why is everyone obssessed with home ownership given that since we are all mortal we are all really just? |
caretakers of the dwelling anyway!?
This especially irks me because the winners are the banks and bld soc's who make ££££'s in interest and the fact demand outstrips supply ... |
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 Whilst renting from a private landlord should I have access to all cupboards? |
| There's a walk in cupboard in my bedroom that is locked. I asked the landlord for a key but she refused as she said it is used for storage of her stuff. If I'm paying rent for the house ... |
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 Where do you look first when buying/selling a house? |
| There are so many options when looking to buying/selling a house these days... I would love to hear from everyone as to where they begin their home buying/selling journey. Do you already have an ... |
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 Can landlord enter my house if I don't want him to? |
| He wants to sell the house and my lease isn't up until Oct. 10, 2006.... |
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 My landlord wants to sell my house but I am happy here? |
and I'm not in a position to apply for a mortgage at present. But my question is:
What sneaky tips and tricks can I deploy to put potential buyers off? It has to be something that I ... |
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 Does this sound like an ok deal to you, or are we being robbed? |
| I asked a similar question to this earlier, but this is a little more detailed. Our house comps for 115. We listed it at 94, so hopefully it would sell pretty fast. Any way, a couple of weeks ago we ... |
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 Do you think my landlord would mind if.......? |
i put another lock on ther door?
there is already a lock (the one with those really old looking long metal keys)
i would just feel safer with another lock on there-not one which ... |
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Krystal | Should I sell or rent my existing home? |
I'm planning on buying a new home in the next couple of months, would like to rent this one out but not sure if it's a good idea. |
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David Beasley
|
In a buyers market, you will have unfavorable terms in selling your house. These are:
- 4-6% commissions to realtors
- 6% paid to the buyer in closing costs and down payment assistance... that is a minimum of 10% of your equity
- it takes 180 days+ to sell a home at the top of the market
- you are competing with desperate sellers low balling the market (pre foreclosure or foreclosed homes)
Reasons to rent:
- Income tax write offs include
1) mortgage interest
2) costs to advertise, update/repair
3) HOA fees if any
4) gas to go do ANYthing related to the rental
5) Depreciation!
- Someone else is paying for your equity
- You will likely not pay any taxes at all!
In my experience, it pays to sell in a rising market and it pays to rent in a down market. You will want to have 2-3 months of mortgage payments for that house in the bank as reserves. You will need a cushion when it comes to vacancies/cleanup/advertising.
I love Craigslist to advertise. I tend to get more saavy tenants that way.
Best of luck! |
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Giraffes<3
 |
I don't know too much on the subject, but if it were me, personally, I would sell. People can ruin the home and you have the fix it up. If it is worth it, sell your house now. If not, wait a while and maybe rent it in the meantime. Maybe not a full year lease, but a month or two. |
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V C
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If you put it on the market right now, chances are unless it's very well priced in a great area or you're lucky it will sit for a long time.
I'd rent it, but on a short lease, and then check out the market, or vice versa. |
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Doctor Deth
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if you try and sell, you'll probably get a lot less than you would have 2 yrs ago or less than you were expecting - can you afford 2 mortgages? it might take awhile to even rent the house |
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bekah_2009
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i think you should just sell it..altho it is ultimitly up to you..but when u sell a house you dont have to deal with waiting on getting the rent every month..the renters saying oh we dont have the money and worry about a contract. if u sell the house u will have the money upfront to pay for the one u are buying also..i think selling is less of a hassle. Try and sell it without a relator too... |
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maira c
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I JUST BOUGHT MY NEW HOME...WE DID CLOSING TODAY. I THINK YOU SHOLD RENT YOUR PLACE OUT CAUSE RIGHT NOW ALMOST ALOTS OF PEOPLE ARE BUYING FORCLOSURE HOMES BECAUSE IT'S BYERS MARKET... YOU WOULNT BE GETTING THE MONEY YOUR HOUSE IS REALLY WORTH. ME AND MY HUSBAD ARE INVESTERS SO WE NOW SOME WHAT ABOUT THIS. |
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RICHARD
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Normally in this market I would lean to renting it out.
This way you still build your equity.
Plus provide positive cash flow.
Just be sure to check on your insurance. and local laws. |
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Missy
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i rent, have been for the last 10 years. make sure if you are going to rent you have a very detailed lease and rent to the right person. it is a good idea cause you can make your new mortage payment with the rent that will be paid to you. make sure you do realize that you are responsible for the house and if anything breaks, you must fix it. if you are goint rent, make sure whoever you rent to you are calling all their references and their past landlords. you don't want anyone in your house that is going to mess it up. |
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BigHammer
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With the current housing market, you can make better money renting for a while. However, being a landlord has many responsibilities. You could get calls at all hours of the day/night. You will be responsible for fixing anything that breaks down. You need to find responsible tenants so they don't destroy your home.
If you live close and are a good handyman, I'd say rent until the market hits an upswing. |
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steph
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With the housing market in the shape that it is now houses are not going for as much as they use to. So I think if it was me I would see how renting works out. Just make sure you get a security deposit and make them sign a lease or something. |
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bud68
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That would depend on your personal financial situation and the local real estate market. You have to make the judgment. |
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pink!
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rent it will pay your mortgage or extra money coming in!
i think you mena you already own a place and are buying a new place right?
well like i said previously if thats the case rent what u have now |
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godged
 |
First, make sure your mortgage allows the house to be rented out. Some mortgages require that the home be owner occupied, and if you move renters in, they will call the note due in 30 days.
Being a landlord is tough, make sure you have the stuff to be one. Tenants can be very hard on property and a pain to deal with. You will need enough from the rent to cover PITI, reserves for repairs and such. So check the local rental market to make sure you can rent it for what you need to get out of it. |
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Kim Y
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Check with a Real Estate professional in your area to see how the rental market is at this point in time. You will need to do a little research with some comps in the area to see if rentals are feasible.
For example:
If your home's mortgage is 1000/month, your sq footage is 2000, you look as to rentals in the area of 2000 sq foot and see if they are renting for approximately 20% greater than your mortgage payment. If they are renting for 1200 or greater per month, then it is feasible to entertain doing. You can always elect to have a RE Brokerage manage your property for you, but their fees can be steep, and I have found that when I inquired to a broker to do that for me several years ago, they gave me very poor numbers. They told me (1993) that homes in the area at my 2000 sq foot would only rent for $800/month. Well, I researched and found for my immediate neighborhood, they were renting for $1100-1300 at that time. I placed my own at at $984 per month, and had over 120 responses. I wondered later if the Broker that I was trying to work with was thinking that they could pocket the difference, as well as charge me the monthly "maintenance" fee on top of that. Anotherwords, tell me they'd rent it for $800, charge me $80/month maintenance, then rent it out for $1000. They'd make $280 per month...but since we didn't go that far with the paperwork, I have no way of knowing if they would have been able to pull something like that, anyway.
I became the Landlady, and the people did right by me when I was managing them. When my husband took over (now my ex husband), he wanted to be "pals" with them, so he told them our financial situation, and the true "due" dates before the mortgage we were paying would be due. By putting all of our cards on the table, these people turned coat on us, and ended up "eating" up the security deposit, then didn't pay the last month's rent which, after all of the late pays and such that were not paid, and clean up of home & repair, we were out $3000. So you HAVE to be a firm, professional manager and not be buddy-buddy with them. Lay down the law of who pays for what, NEVER allow them to eat into the security deposit, and don't allow them to even be late. It will become a habit. Good to have a neighbor "spy" for you too, about parties or any damage that may come about, or if the tenants start to mess up the yard, not mow, and such,as the city or your HOA can come down on YOU for that.
See a Real EState Attorney for documents to draw up and consultation. That one time fee to them will save you a lot of headache.
All in all the Landlord thing went well when I was the Queen of Mean, and would do it again, just with ANOTHER spouse!
060508 12:20 |
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Alterfemego
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Well the market in most area's is kind of tough right now. And if you don't HAVE to sell, I wouldn't put it on the market. Renting is fine, but keep in mind you now own investment property and to borrow for another primary residence will take only a portion of the rental amount into consideration. You might want to consider talking with a financial advisor before proceeding, just so you don't make a mistake that could cost you thousands of dollars.
Best of luck! |
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Josie826
 |
As you are well aware, the housing market is awful right now. People are taking terrible losses on their homes; a good time for buyers, bad time for sellers. I would rent the home with the knowledge that you will now be a landlord and be responsible for problems that may happen at the rental unit. You also have to be prepared to evict bad tenants, maintain the lawn and yard around the house, unless the tenant is willing to do it. If you get a good tenant, it will probably be a wonderful thing. If you get a bad tenant, it will be a nightmare. Its up to you if you want the hassle.
-Edit- You could always rent or lease with the option to buy. |
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Kirsten
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If you can afford two mortgages at once, it's a great idea to hang onto the one you're in and lease it out. Property values usually have nowhere to go but up, and the cost of the mortgage payments on the house you're not living in could be covered almost completely (if not completely) by the rent the renters would pay. Financially it could be a really great move because in a few years you could find yourself with two paid-off homes, and one of them would be makign you some decent money.
Just keep in mind that there are a lot of things that go along with being a "landlord" if you decide to go down the rental/lease route. Usually you have to supply appliances, ensure fire hazards aren't created, deal with conflicts with surrounding neighbours in the event that the people you have move in are noisy, etc.
Good luck! |
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bumblebee
 |
Since the market is at an all time low, I would rent it out and wait for a better time to sell. |
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Mohsen B
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yes sure |
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This Jersey Girl ♥♥♥
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I'll rent it! my husband and I want to buy a home so badly so we can have kids even rent a home. *sniff* okay anyway your best bet is probably to sell the home. If you are going to rent it you will definitley want to get previous references from people and have a strict lease. You can benefit from renting it, that extra income I can imagine would be very helpful just be a nice landlord and remember renters are human beings too. Good luck in your decision. p.s. I fully agree with V.C. |
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Bunnie D
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renting sucks an absurd amount of money out. if you have the funds buy it, the market is good for buyers. if you need to move later you can rent it out for a profit. if you don't have the funds interest rates will be killer. |
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