Home Forums Hunting & Shooting Hunter's Campfire Have you ever rented out your home, and would you do it again?

I'm heavily considering purchasing a home. The time is about right, and I can now afford a good home in my area. Thing is, I am planning on moving in a year or two. Need to get out of here, and back home to AZ, or maybe NM, ID, WY, MT, or AK since too many Kalifornia azzhats are moving into my home state and destroying it. I'll have options and am researching them now.

I am pretty set on moving, but, a recent big promotion postponed my move date of this past summer, and the very real possibility of another in the near future leaves me with the possibility of sucking it up, staying for another 10 years, and working toward early retirement possibly, or being able to bank enough serious dough to go into business for myself in someplace I'd love to live.

So, I feel I should buy while the time is right, but if I do leave, that would leave me either rushing to sell, or holding onto it as along term investment, and renting the place out. Once I do leave this state, I have zero intention of returning here to live.

Looking for other's experiences leasing out property you owned. Worthwhile venture, or complete waste of time if I don't plan to return?

Dave, I had a property in AZ that I rented and actually made some money on. The problem is ALWAYS, what will it look like when I "reclaim" my property? If I read it all correctly I would suggest you stick with what you are doing, banking the surplus money and wait to see what happens out that way. You know it is somewhat volitle. Do what is best for you.

Dave,

When we moved here we kept our old house as a rental for six years. I did pay a property manager a fee to handle the rental and repairs as required and it really worked out pretty well for me. A significant tax break and when I did sell it (when the Bush Tax plan reduced cap gains) I made significantly more money on it than if I had sold it when we moved.

I would do it again.

Allen

I've heard so many times about the Kalifornia Pr&cks..........

You guys should lobby your state to open a season on them!!


That'd discourage 'em!

We did when we spent a year in NM, never do it again. Most people that rent don't care what they do. Had to replace 3 year old carpet & flooring through out plus lots of clean up. This was a "reputable" tenant, HAH!

I rented out my Mom's home when she had to go to a nurseing home. I thought it might help some in paying the tab.

Would I do it again? Not in a million years. I'd rather just torch the place and be done with it. Maybe I just had bad luck with low class, goofy tenants but it was nothing but a headache and net expense.

BCR

Years ago, my parents rented out their house. When they kicked out the renters, they had to re-sheetrock the entire house, even the ceilings. The SOB's had knocked holes in every wall and ceiling panel. Dad said it looked like they'd used a hammer.

DaveR, Yes I've rented my home, and yes I would do it again, but only under certain circumstances.

The main circumstance is that I would not do it without going through a GOOD tough rental agency. We had a great one.

I might consider renting if I lived right next door, but in my case I moved too far away to keep an eye on the place.

Friends of mine have horror stories of renting their homes, having them totally trashed and taking a year or more to evict a professional rent beater who knew the law perfectly and used every loophole.

Good luck whichever way you go.

Yes. NO!!!

From what many of you say I was very lucky to have had no damage or significant wear and tear when I rented mine for six years.

I may have gotten lucky but I also payed a property manager 10% and she inspected every couple months and was draconian in her vetting of renters.

Worked for me.

An ex girlfriend of mine rented out a house she owned about
5 years ago, the first lady she rented it to was a POS and
the police raided it because her boyfriend was dealing out
of the house. The second family she rented it to is still
there and she has had no complaints since they moved in.

Last time we visited to inspect our rental I felt like I had become slum lords, renters are SLOBS, then we had renters that divorced and left the house a mess and sued in small claims to get back the security deposit, that took another trip out there, then when we wanted to sell it that turned into a dispute with the property manager (who had been OK for 6 years)... I was glad to sell it.

When my daughter and her friends rented a house near her university the landlord's property manager turned out to be a REAL bunch of IDIOTS, so we've sorta seen both sides of the transaction

I think owning rentals is good for the handyman type who loves fixing things and lives nearby

Poole

We rented our home in Orange Park for about three years while we transferred to D.C. & later Newport, RI. As others stated, we used a tough rental company (two retired Navy Chiefs) and they did a great job for us, plus the renter was a single mom school Principal/administrator We were lucky. jorge