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You wrote the key word that motivated me to respond. "Pristine"
Your home will never be pristine again if you rent it out. I agree with the other posters. While your renters may not be extreme as the stories posted here, tenants will never care for the home like the homeowner does. They do not own it, they do not take pride in it and they have absolutely no reason to maintain it well.
We thought about renting our home too, and it was a similar size as yours. Ultimately, we decided against it for the above reasons.
Erin makes some excellent points. If you rent this house out to others, it will NOT be in pristine condition when you get it back. This is especially true when you consider the size of your home. The type of people wanting to rent a place that big are bound to have a kid or two. You need to accept that there will be some wear and tear if you rent out this house - and possibly some damage that requires repair. Even the best people have accidents.
I still think that the tennants you want will not want you to stay with them - even if it's just a couple of days. More than likely, they won't feel comfortable telling you that they don't like it, either. I think you just need to accept that if you rent out the house, you don't get to sleep there again until your tennants are moved out.
Yes, I agree with all of you. We also looked into a management company and came to the same conclusions after speaking with several of them that you found out. They don't care, have nothing invested, so there is no incentive for them to rent the house. I think it's a racket to get your money to sign with them.
We also thought about just moving down there now and renting our NY home, but I have to consider our sons in all of this. It would be difficult to pull them out of school mid stream. There simply is no easy answer.
Thanks again everyone for your input.
Yes, I agree with all of you. We also looked into a management company and came to the same conclusions after speaking with several of them that you found out. They don't care, have nothing invested, so there is no incentive for them to rent the house. I think it's a racket to get your money to sign with them.
We also thought about just moving down there now and renting our NY home, but I have to consider our sons in all of this. It would be difficult to pull them out of school mid stream. There simply is no easy answer.
Thanks again everyone for your input.
That's why we thought we had a shot because our "property management" company didn't even take any kind of setup fee's. However, even though they won't see a dime until it's rented, they still do not seem motivated to get it rented. If you were to rent out your NY home, you would still have the same issue in reverse. We thought about this ourselves, but our insurance company would not cover the NY property as a rental supposedly, and we really need some equity from the NY home to help us get the NC home going, so we are stuck trying to sell the NY home now and paying 2 mortgages in the meantime.
For us, we don't have any children in school (they are all over 21 now), so our situation is a bit different than yours and I feel for you guys. Best of luck, hope it all works out for you.
Just a question, but doesn't the equal housing act come into play at all when renting homes? I guess I always thought that if you rented a property, there were certain criterion you had to adhere to, like good credit, past rental history etc. And if the person who who wants to rent your property had those "qualities" you had to rent to them? I don't understand where the "pickiness" comes in?
what if I decided I didn't want to rent to one particular race, or college student, or a single gay male whose friend might overnight with him and I didn't like that...
Someone enlighen me...and please understand, I just made those scenarios up...I just never understood when people said they were "picky" about who they rented to.
Just a question, but doesn't the equal housing act come into play at all when renting homes? I guess I always thought that if you rented a property, there were certain criterion you had to adhere to, like good credit, past rental history etc. And if the person who who wants to rent your property had those "qualities" you had to rent to them? I don't understand where the "pickiness" comes in?
what if I decided I didn't want to rent to one particular race, or college student, or a single gay male whose friend might overnight with him and I didn't like that...
Someone enlighen me...and please understand, I just made those scenarios up...I just never understood when people said they were "picky" about who they rented to.
This is why you need to have criteria set up to ensure you are not descrimination against race, color, religion, sex or national origin [or on disability and family status]. You should interview several prospective tenants and if any red flags go up, let them know why the are declined (income, credit are common disqualifying factors).
Just a question, but doesn't the equal housing act come into play at all when renting homes? I guess I always thought that if you rented a property, there were certain criterion you had to adhere to, like good credit, past rental history etc. And if the person who who wants to rent your property had those "qualities" you had to rent to them? I don't understand where the "pickiness" comes in?
.
I think it may only apply to units of four or more-I'm not sure it applies to a single home. I may be incorrect in my understanding though.
All I know is, we faced discrimination based on our family size, when we tried to rent a SFH, here in CT. It was quite blatant. We actually had less issues with that when renting in our current apartment complex.
I don't know how we went from simple questions to assuming I am am being discriminating??? That is why we have housing laws, to help prevent that.
I don't think saying that I want to rent to someone who I feel reasonably comfortable won't trash my house means I would treat anyone unfairly. That being said, we have decided to let our cousin and her partner live in the house for free in trade for just taking care of the lawn for us until we can be there. Thank you everyone for your input.
Don't do it! Everyone I know regretted renting their property. Whether it was a trailer, condo, house. The property is abused and its very difficult to evict bad tenants.
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Do not rent any home!!!
