Best way to find good tenant for house in Las Cruces.. (Albuquerque: apartment, foreclosures)

[NMRNEd]

We are purchasing a nice home in the 4 Hills area now, and will be relocating to Las Cruces permanently in a little over one year. Having made a few 'scouting' trips the past year, we've really come to appreciate all that the area has to offer.

Our question is this: Does anyone have suggestions or creative ideas on how to locate good tenants for 1 year in the interim? I realize that this is truly the $10,000.00 question for all investor-type people. We really aren't investors, and this will be "our" house in a year, so we don't want to lease it to someone who won't take care of the place.

The financing is such that we will be able to discount the rent to very competitive rates for the right tenant. We have been lucky enough to find just the right place and just couldn't pass it up.

We always have the option of using a rental management agency, but just wondered if there were perhaps any better ideas out there?

Also - this is my first post here - and I'd like to thank everyone for the kindness and willingness to share openly. I don't mean to sound all mushy, but it really does make me feel good about life in general when I read so many kind and caring people sharing...even if we don't all agree all of the time. Just turn on the TV for awhile and you'll see plenty of evidence where we DON'T all get along.

"Where's the best place to live" is a tough question, with different answers for different people. Sort of like "what's the best food to eat?" or "Where's the best book to read?" It depends on a whole lot of things, and the answers change over time. You guys have been wonderfully patient in sharing your experiences and beliefs.

Best wishes to all for the new year, and here's hoping that we all find THE PERFECT place where it is inexpensive to live, there are lots of high-paying jobs that we all enjoy, there is no crime, the schools are great, there is no traffic, there are no crowds, and the weather is beautiful year-round !!!

[TKO]

Simple. Check their credit. That is the system I use along with personal, well interviews, although that might sound a bit strong. I have never had a bad tenent that had decent credit. The times I didn't check, due to knowing the people through someone else, are the ones I regret the most, sadly enough.

I agree with your sentiments, places like this where strangers can share opinions and knowledge are one of the best things about the internet. Just amazing to me.

[RockyMtnr]

There is really no way to insure that you're going to have a good tenant - regardless of checking info. As mentioned, a credit-check. Then, a criminal check - if they are local, go to the cop-shop and get a "magistrate's check". Check landlord references also. If they can't give you a landlord reference, forget about them. Remember also that your protection will only be as strong as your lease, rules and the checks. Remember also that your actions as a landlord are governed by HUD & FHA (Fair Housing Administration) and both can be accessed online for further information.

[Cali-girl]

Hello!

I agree with Rocky, best to do the background checks to weed out people who may default on their rent. You don't want to have to do an eviction.

For short-term renters, you may wish to contact the housing office at NMSU and see if they will post a short-term rental for you.
The Housing Office number is: 505-646-3202.
(Visiting professors and grad students often need just a short-term rental) Graduate School number is: 505-646-2736.
Graduate School Administrative Offices & Departments is: 505-646-3526.

For out-of-town prospective tenants, it would be good to have online pics for them to look at. We went to realtor.com for rentals. Also the Las Cruces Sun-News was another source we checked into. My spouse & I are currently renting and our LLs were thrilled to get us since we have very high FICO scores (790+, no bankruptcies, no foreclosures, no late payments, etc.) and have outstanding references from previous LLs. What made the difference in our decision re which property to rent was the availability of online pictures of the residence's interior/exterior.

Thank you for your kind words re City-Data Forum.

~Cali-girl

[NMRNEd]

Thanks so much for the thoughtful replies. Since I've never been a "landlord" before, it's a weird feeling. I have always been the tenant, and appreciate the good advice.

It is a lot like the interviewing and hiring process for new employees, it seems to me. Everyone puts on their best 'face' for the interview and everyone can look good on paper. It takes a little while on the job for you to realize that the decision was a good one, or *ahem* could have been improved upon.

The internet is an amazing thing to me, still. The amount and degree of knowledge that is out there s just mind-boggling, and being able to tap into that wealth of knowledge just blows me away.

Best wishes to all for a safe and happy new year - and keep those good ideas coming !!!

John

[RockyMtnr]

Peace to you - and go over the lease with your new tenant inch-by-inch and row-by-row.
and now ... for a Nmxicnr, a few lines of "It's the New Mexican Air Force, Mesqualito riding a white horse, the New Mexican Air Force is flying tonight!"
Happy New Year
Rocky

[l2louie]

Hi,
I just happened upon your post today as I was looking for a house to rent. I don't know where the Four Hills area is, but if it is fairly close to the Las Cruces High School maybe we can make a deal. I will need a house from August 2007 thru January 2008 and I happen to be a great tenant :-). Interested?? If so, let me know what kind of arrangement you have in mind. You can write me at this address
reber8 at asia dot com (I wrote it out so no email trollers will spam me.)

[cloudcroft]

NMRNEd,

Do all the background checks you can -- that's a must -- but realize that you can still get someone who is a dope-dealer, drunk, sells all the furniture/appliances, has unruly kids/pets, makes holes in/writes on the walls, lets the landscaping die, trashes out the place/yard, and eventually skips.

On the other hand, some people have had credit problems are great tenants. I've known at least one "poor-credit tenant" who always left the rental in better condition than it was in the beginning.

Go figure.

It's a matter of individual character and integrity on the part of the tenant.

In the end, you will need to have a real. old-fashioned face-to-face interview with the prospective tenant and go with your gut feelings.

I agree with other posters above that finding a good realtor/property-management agent in Las Cruces to FIND the good tenant and look after your house is best if YOU won't be there to do it, but then, you have to find a GOOD agent...back to square one as per your question.

Good luck,

-- John D.

P.S. "4 Hills"...thought at first you were talking about Albuquerque...didn't know Las Cruces also had a neighborhood called that.

[NMRNEd]

Thanks, everyone, for all of your input.
All of it is good advice.

We are still looking for a tenant, but have listed with a property management company. The rental market is a little soft in Las Cruces right now, so it may be awhile. We'd rather wait for the right person than have to rent, re-rent, re-pair, etc. :-)

Four Hills is a small neighborhood towards the northeast part of town; even a park called Four Hills Park. One of those things you'd never know unless you'd been there!

Hope everyone is keeping warm and safe as this winter cools down!

John

[cloudcroft]

NMRNEd,

Thanks...never heard of it, but I've ever been out that side of town before. Re: houses, I mostly know the Roadrunner Parkway/Golf Club/Sonoma Ranch area of Las Cruces.

Albuquerque's Four Hills area is pretty small. Like yours, you might not even know about it unless you knew ABQ fairly well.

Hope Las Cruces gets better electric rates than here (my apartment is all-electric), but I think it does!

Good luck on finding the good tenant; if I were renting, that would be a priority.

-- John D.