Renting my house questions

[texas assasin]

My wife and I are kicking around renting the house we live in. I've never done this. So, all the input y'all can give us is greatly appreciated. Obviously, we would check renters history, background, references etc... What are pros cons process etc... We would probably only be looking to do this for about a year and move back in pending our financial situation at that point
Thanks in advance

[gingib]

where do yall live now?

Screen screen screen!

[ATXBowhunter]

If you move forward and find a renter, give them an "inventory list" and have them describe any defects, scratches, etc. For your part, take pics (or video) of the entire house. This will save you lots of aggravation if there is any damage to the walls, appliances, etc when they move out and you are arguing back and forth about who caused it.

[CabezaBlanca]

I would consider letting a property management company handle it for you. They can take a lot of the headache out of it for you.

I don't think I could ever own a rental property. I used to work for one, and seeing the way a lot of the places were left when they moved out was incredible. The property owner was out thousands in repairs. You can pretty much count on a complete repaint and new carpet when they are gone.

[zero-in]

I would consider letting a property management company handle it for you. They can take a lot of the headache out of it for you.

I don't think I could ever own a rental property. I used to work for one, and seeing the way a lot of the places were left when they moved out was incredible. The property owner was out thousands in repairs. You can pretty much count on a complete repaint and new carpet when they are gone.

Wholeheartedly agree with the above. We only have one rent house but chose to utilize a property manager. Keeps us out of the loop and to me the percentage of the manager's take is worth it! Same renters in house since we bought it and put it on the market going on 9 years ago. The rent is helping with my kid's college tuition!

[CrookedArrow]

One word..............

Don't

[ckamp52]

I only have one myself but have helped a buddy who has a ton of properties and I will say that I have been blessed with good tenants. I tend to only rent to older people. they tend to take care of things and not complain much

[jlp04c]

When you do, remember to change your insurance from a ho3, to a landlord (dp3) policy!

[texas assasin]

where do yall live now?

Screen screen screen!

Houston zip 77084

[texas assasin]

Wholeheartedly agree with the above. We only have one rent house but chose to utilize a property manager. Keeps us out of the loop and to me the percentage of the manager's take is worth it! Same renters in house since we bought it and put it on the market going on 9 years ago. The rent is helping with my kid's college tuition!

What's the name of management company you use? Maybe they service my area

[texas assasin]

I only have one myself but have helped a buddy who has a ton of properties and I will say that I have been blessed with good tenants. I tend to only rent to older people. they tend to take care of things and not complain much

Exactly my thoughts or only family's with couple kids

[wal1809]

Houston zip 77084

Oh hell no. 083 and 084, no freaking way, I know all too well both zip codes. If you are only going to be gone for a year you're gambling. It can go either way. Pick the right one and you win. Pick the wrong one and you're going to spend you earnings to get the house back in order. I would never rent the house I was living in, to an 083 or 084 zip code tenant. I am in the rental game. I buy houses and some get abused. You do what you can do to weed them out. Be it I don't live there, I don't get excited over the renter destruction. I set the deposit high and never EVER take less than an extremely high deductible. If they can't afford it, send them packing. If they can't afford the move in costs, they can't afford the rent. As soon as they start the "I can't pay you until Saturday" evict them.

[CabezaBlanca]

Houston zip 77084

Don't do that!

[texas assasin]

Oh hell no. 083 and 084, no freaking way, I know all too well both zip codes. If you are only going to be gone for a year you're gambling. It can go either way. Pick the right one and you win. Pick the wrong one and you're going to spend you earnings to get the house back in order. I would never rent the house I was living in, to an 083 or 084 zip code tenant. I am in the rental game. I buy houses and some get abused. You do what you can do to weed them out. Be it I don't live there, I don't get excited over the renter destruction. I set the deposit high and never EVER take less than an extremely high deductible. If they can't afford it, send them packing. If they can't afford the move in costs, they can't afford the rent. As soon as they start the "I can't pay you until Saturday" evict them.

I understand what your talking about. This area was nice back 12-15yrs ago. It's on a decline not horrible but far from what it was. I agree you either have the funds to move in or don't bother. So do you have certain docs you use would you mind sharing?

[texas assasin]

Couple other questions: Where do I find renters? I bet Craigslist would be a nightmare?? Would think it's only an invite to all thieves Do I compare what the market is offering in reference to deposit 1'st months last months rent?