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Old 06-07-2014, 09:47 AM
 
1,549 posts, read 1,955,646 times
Reputation: 1668

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Quote:
Originally Posted by RoadWarrior12 View Post
Can we make this post a sticky and just refer back to it every time one of those "investment home" threads pop up?
Ding ding ding ding ding!
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Old 06-07-2014, 09:49 AM
 
7,742 posts, read 15,128,422 times
Reputation: 4295
carpet can run about 15/sq yard (so around 2/sq ft) at the low. So your realtor's #s are high. At those numbers I could get hardwood installed. Around 7/ft for wood.

Next time vet your tenants better. Actually run a background check and call their former landlord.
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Old 06-07-2014, 10:27 AM
 
109 posts, read 161,705 times
Reputation: 191
I feel bad for you, but I think I feel more bad for your neighbors, unless the house was located in an overwhelmingly rental area.

What were you thinking? You can't be an absentee landlord and expect that any tenant is going to take care of your home, nor can you expect the "property management company" to do anything.

This is why people who live in owner-occupied neighborhoods don't want rentals. This right here.
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Old 06-07-2014, 11:45 AM
 
19,722 posts, read 10,124,301 times
Reputation: 13090
Quote:
Originally Posted by mackenziep View Post
I feel bad for you, but I think I feel more bad for your neighbors, unless the house was located in an overwhelmingly rental area.

What were you thinking? You can't be an absentee landlord and expect that any tenant is going to take care of your home, nor can you expect the "property management company" to do anything.

This is why people who live in owner-occupied neighborhoods don't want rentals. This right here.
Exactly. We are going to sell this fall. When we bought 20 years ago, the whole neighborhood was owner occupied. Now most are rentals. The landlords don't maintain their property.
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Old 06-07-2014, 12:22 PM
 
269 posts, read 428,311 times
Reputation: 272
Sounds like you have a terrible Realtor. He/She has over quoted you seriously on prices to the point where it sounds like he/she is trying to pull a fast one on you. The average cost of carpet for a house that small is closer to $3500 and in a rental you'd be better off with a faux wood floor. And, did he/she vet these tenants at all?

In the future, I would include lawn care for your tenants and factor the cost into the rent.
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Old 06-07-2014, 01:33 PM
 
Location: Austin, TX
16,787 posts, read 49,068,148 times
Reputation: 9478
Quote:
Originally Posted by RoadWarrior12 View Post
Can we make this post a sticky and just refer back to it every time one of those "investment home" threads pop up?
The renting forum is really a better place for these kinds of questions. http://www.city-data.com/forum/renting/

But you can always post a link to this thread in the "Welcome to Austin" thread.
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Old 06-09-2014, 08:19 AM
 
2,093 posts, read 1,926,342 times
Reputation: 3639
Quote:
Originally Posted by mackenziep View Post
I feel bad for you, but I think I feel more bad for your neighbors, unless the house was located in an overwhelmingly rental area.

What were you thinking? You can't be an absentee landlord and expect that any tenant is going to take care of your home, nor can you expect the "property management company" to do anything.

This is why people who live in owner-occupied neighborhoods don't want rentals. This right here.
Bingo! I saw this all the time where I lived.
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Old 06-09-2014, 10:33 AM
 
Location: Round Rock, TX
1,317 posts, read 4,057,863 times
Reputation: 766
Threads like these are why I'd NEVER be a landlord.
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Old 06-09-2014, 10:39 AM
 
Location: Great State of Texas
86,052 posts, read 84,481,831 times
Reputation: 27720
Quote:
Originally Posted by mickey65 View Post
Threads like these are why I'd NEVER be a landlord.
Sometimes it really depends on the situation.

I know someone that has a condo in south Florida and only rents out to snowbirds during the season while they and their family use it during the off season. They have rented to the same snowbird couple for over 5 years now and never had any problem. The rent pays the taxes/insurance/HOA fees with a little left over for them.

So it really depends because there are opportunities to be made with renting.
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Old 06-09-2014, 12:38 PM
 
10,130 posts, read 19,879,750 times
Reputation: 5815
Quote:
Originally Posted by mickey65 View Post
Threads like these are why I'd NEVER be a landlord.
Posts like this are why I screen my own tenants and don't use a realtor. I'm sure if I had a great realtor I could trust it might be different, but in my experience the ones that come to bring me a tenant are not terribly interested in what happens after they sign the lease. I have to deal with the tenants for at least a year or more, so I am a lot more careful when it comes to who will be living there.

If you do it correctly, being a landlord is not a bad thing. But it is a job (albeit part time), it's not always easy and people shouldn't expect it to be so.
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