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siffleuse319
LIF Infant
Member since 8/08 189 total posts
Name:
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Question for Homeowners with a Rental Apartment
How stable has your tenant history been? I'm looking for a home with an apartment to help supplement the mortgage. But I've heard that the rental market is also struggling. I would not need to rely on the rental income to make the house payment, but it would certainly make this easier.
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Posted 11/25/08 8:35 AM  |
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Prudential Douglas Elliman Real Estate
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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: Question for Homeowners with a Rental Apartment
I can't imagine the rental market is struggling
there are barely enough rentals on LI to begin with
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| Posted 11/25/08 8:39 AM |
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siffleuse319
LIF Infant
Member since 8/08 189 total posts
Name:
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Re: Question for Homeowners with a Rental Apartment
I would think so too. But several people I know have been without a tenant for months, despite the active listings. I'm only one person, so I was wondering if this is a consistent trend that others are experiencing too.
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| Posted 11/25/08 8:43 AM |
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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: Question for Homeowners with a Rental Apartment
interesting....
I haven't rented an apartment in a home on LI in ten years but I remember them being hard to find
when I moved back - I lived in a building- which I know for many people isn't affordable
I would list it with out a broker- most people don't want to pay to find an apartment- we found our current one on craigs list and I saved $3K buy doing it that way (in Queens they charge 1.5 months rent)
if I had to pay the 1st months rent, sercurity and the fee- that would have been $7K with out the movers
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| Posted 11/25/08 8:47 AM |
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NoStressMom
My Heart and Soul
Member since 5/05 11122 total posts
Name:
D
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Re: Question for Homeowners with a Rental Apartment
another bit of information if you can not afford the mortage on your own becareful you do not want to depend of tenant helping you or paying for that matter. We had a issue that our tenant didn't pay for 2 months thank god we were able to afford it on our own.
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| Posted 11/25/08 9:04 AM |
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LBBCHGRL
LIF Infant
Member since 1/08 199 total posts
Name:
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Re: Question for Homeowners with a Rental Apartment
I think that it depends on the area that you are in. We have a rental apt and have had no problem filling it. I think the most money that we lost was 1 month and that was because we were being picky in choosing our tenants. We live in Long Beach if that makes a difference.
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| Posted 11/25/08 1:37 PM |
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nicrae
He's here!
Member since 12/06 9289 total posts
Name:
Mommy
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Re: Question for Homeowners with a Rental Apartment
We have one and have had no problem filliing it.
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| Posted 11/25/08 1:44 PM |
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KPtoys
I'm getting old
Member since 5/05 8688 total posts
Name:
Karen
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Re: Question for Homeowners with a Rental Apartment
We have a rental upstate. Filling it wasn't the problem, paying has been
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| Posted 11/26/08 10:11 AM |
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legallyblonde
LIF Adolescent
Member since 8/08 850 total posts
Name:
K
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Re: Question for Homeowners with a Rental Apartment
As a homeowner with a tenant, let me say this. If you can afford the house without the tenant, DO IT. No matter how great the tenant is or how you know them, there will always be some type of aggravation. I would never recommend that to anyone. Oh, and we had no trouble getting a tenant.
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| Posted 11/26/08 7:32 PM |
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