Our tenant just moved back to Maryland after renting one year. Great tenant! Always paid early and let us know if something was wrong. Now I’m preparing the house for a new renter. Have to get the house professionally cleaned, yard done, and do some minor repairs. Of course I’ll take if out of her deposit.
I wish we could sell the house, but the economy still sucks. Sometimes I think about keeping the house forever. Having a rental property is great residual income, and it would be ideal to have in retirement. However, if we could just get a long-term 20-year renter, that would be absolutely wonderful. Oh well, such-is-life in the world of being a landlord.
Are you a landlord? How is it working for you?
Preparing House for New Renter
June 7th, 2010 at 12:43 pm
June 7th, 2010 at 12:51 pm 1275915062
It just depends on the tenant. We had the perfect one for three years, but found out only after he left with three days notice was he wanted by the State's Attorney Office for a missing $3 million from a pervious job - and they threatened to subpeona and freeze my bank account information should I not cooperate with them tracing HIS financials.
My present tenant is pertpetually two weeks to one month late. She's been there three years and struggles to be timely. Sadly, her rent isn't always the first priority (but as husband points out "we always work with her"). Her last two rent checks bounced - so now we require cash only. In this economy, we don't want to have to sell it yet (though it would be extremely nice) so I suppose we'll continue to work with her and hope that she'll get caught up eventually.
June 7th, 2010 at 12:57 pm 1275915476
June 7th, 2010 at 03:16 pm 1275923787
June 7th, 2010 at 05:51 pm 1275933113
June 7th, 2010 at 10:54 pm 1275951256