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Old 07-25-2008, 10:38 PM
 
Location: Hamilton, OH
11 posts, read 51,640 times
Reputation: 16

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Hello everybody,

My wife and I currently live in Hamilton (Fairfield Twp), and we are planning on moving out, to another part of the country.
We own a 2,000 sq ft home in a suburban subdivision. We would rather not have to bother about selling our house for now, and would rather keep it in order to sell it at a more favorable time for the market.
But I have not seen many homes for rent. Is that very uncommon in the area ? Will I have much trouble finding renters ?
We would like to put it for rent for about 1,400 USD minimum.
Thank you
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Old 07-26-2008, 05:35 PM
 
Location: AmCit in Philippines
351 posts, read 1,686,075 times
Reputation: 223
We looked in to renting my parents' house, which is not selling. In this market, I think renting is a very viable option. If you're not already looking on Craigslist, do. There are houses for rent in Cincinnati.

A few points: Your rent seems to be a bit high for the size of the house. That said, the market drives the rate and you may be find someone (P&G transplant or someone with a company budget) willing to pay that.

If you plan to rent the house yourself, make sure that you fully research how renting works. There are tax implications and can be problems if you get a bad tennant. You might want to hire a managment company, if only to help in the vetting of possible tennants.

Huff Realty and Cres Property Management were two companies we talked to. In the end, we decided to keep the house on the market and to sell.

Good luck with whatever you do; it's a tough market right now.
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Old 07-28-2008, 09:40 PM
 
Location: Liberty Township, Ohio
122 posts, read 886,372 times
Reputation: 74
Quote:
Originally Posted by yumboltd View Post
Hello everybody,

My wife and I currently live in Hamilton (Fairfield Twp), and we are planning on moving out, to another part of the country.
We own a 2,000 sq ft home in a suburban subdivision. We would rather not have to bother about selling our house for now, and would rather keep it in order to sell it at a more favorable time for the market.
But I have not seen many homes for rent. Is that very uncommon in the area ? Will I have much trouble finding renters ?
We would like to put it for rent for about 1,400 USD minimum.
Thank you
It's easy to rent out property if you keep them nice and have affordable rents. Rents are determined by many things; the size of the house and other features (# of bathrooms, basement, fenced yard, garage, etc) and it's market value. Rule of thumb - rents are about 1% of the value of the house.

There will always be a need for rental properties, especially in this market where so many people have lost their homes due to foreclosure. It will be years before some people will be able to buy again.

Good luck!

-Linda
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