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SupportACop
Momma's Boy & Lovin' it!!
Member since 5/06 2579 total posts
Name:
C
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Owning and Renting
We are in the process of buying a home which has a studio rental. The renter still wants to stay at DH and I thought it would help us out to let him stay. Does anyone else rent in their home? Is it worth it? We never owned a home yet rented anything to anyone....ANY advice or suggestions??? TIA
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Posted 12/29/06 8:15 AM  |
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2PreciousBlessings
The Perfect Pair
Member since 5/06 19861 total posts
Name:
Best Wife & Mommy
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Re: Owning and Renting
For us we never wanted to rent. That is why we bought a one family house. We did not not want to bother with tenants and the problems that comes iwth it. However, if that is what you guys wants to do then you should definitely go for it. Make sure you way the pros and the cons.
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| Posted 12/29/06 8:19 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Owning and Renting
make sure you draw up a new lease.
We didn't want to have tenants either...but if we loved a house that had a studio apartment already with a tenant, I dont think I would pass it up.
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| Posted 12/29/06 8:23 AM |
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angnick
Life is So Wonderful!
Member since 8/06 6663 total posts
Name:
Angela
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Re: Owning and Renting
we currently own a two family and we are in the process of purchasing a one family.
in my opinion, the headaches are worth it. we are building equity on a home and letting other people pay for it.
how nice would it be for you to charge 800 a month lets say for someone else to live in your house.. you can use that money as automatic savings!
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| Posted 12/29/06 9:15 AM |
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curliegirl
He's here!!!!
Member since 3/06 10128 total posts
Name:
Gina
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Re: Owning and Renting
Renting our 2nd floor is probably the best decision we (well, DH) made.
We get 2/3 of our mortgage paid and get to save tons of $$ as well.
Soon, we will have to kick them out with the baby coming, but it was nice while it lasted.
I wouldn't be opposed to moving to a bigger house with an apartment. It's all about who you rent it to, and with a tenant already in place, you can't go wrong!
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| Posted 12/29/06 3:06 PM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: Owning and Renting
We have a house w/ a studio apartment that was already there. At first I was so nervous and so against renting it, but it is working out great! It all depends on the person and we did a thorough search and are very lucky with the person we found.
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| Posted 12/29/06 3:40 PM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: Owning and Renting
Posted by angnick
in my opinion, the headaches are worth it. we are building equity on a home and letting other people pay for it.
how nice would it be for you to charge 800 a month lets say for someone else to live in your house.. you can use that money as automatic savings!
I agree!
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| Posted 12/29/06 4:16 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Owning and Renting
I'm not crazy about it- but my DH thinks it's a good idea
but if the house already had an apartment it would be hard to aruge with him about it
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| Posted 12/29/06 4:17 PM |
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Ronkonkomonga
LIF Adolescent
Member since 5/05 544 total posts
Name:
We Three Kings...
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Re: Owning and Renting
I would do it in a minute - but we have a neighbor who likes to call the town on us at every opportunity (my favorite was when we got a summons for bundeled sticks that were placed too close to the street)
Make sure you are zoned for the rental - or that you have nice neighbors that have better things to do than watch who is coming and going from your house.
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| Posted 12/29/06 6:19 PM |
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jes81276
summer fun!
Member since 3/06 4962 total posts
Name:
Jaime
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Re: Owning and Renting
Posted by SupportACop
We are in the process of buying a home which has a studio rental. The renter still wants to stay at DH and I thought it would help us out to let him stay. Does anyone else rent in their home? Is it worth it? We never owned a home yet rented anything to anyone....ANY advice or suggestions??? TIA
I think it would make things easier for you bc then you don't have to put an ad/screen a potential new tenant. If this tenant is a good one (I would assume he is bc otherwise the sellers would hopefully let you know) With moving into a new house, it is just one less thing you have to worry about, and that extra income will be there already as soon as you move in. I think it is an ideal situation for both you and the tenant.
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| Posted 12/29/06 6:59 PM |
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mtg1970
We love summer!
Member since 5/05 1063 total posts
Name:
Teresa
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Re: Owning and Renting
We bought a 2 family house a couple of months ago with a 1 bedroom rental on the 1nd floor. IMO it is worth it for us as it helps us tremendously with the mortgage. Just make sure to have a lease signed. We did a credit check, employer check and even a prior landlord check. Just need to be thorough and careful as to who you rent to.
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| Posted 12/29/06 7:22 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Owning and Renting
We used to rent the upstairs untill our tenant left "without notice". Left half of his belonging, ruined the 2 year old carpet, and even left his dirty dishes from his last meal in the sink.
We thought about re-renting but for many reasons/circumstances, it is not rented now and we use the upstairs for storage at this point.
My opinion on renting:
Pros:
- additional income
- left is never empty when going on vacation
Cons:
- loss of privacy
- damage to your house (wear and tear)
- additional noise
- Role of a landlord (fix things, be there if they lock themselves out of the place, etc..)
- Provide parking space
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| Posted 12/30/06 9:15 PM |
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