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Daryl, Other/Just Looking in Miami Beach, FL

Things to consider before renting a house/real state?

Asked by Daryl, Miami Beach, FL Sun Mar 18, 2012

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Know your credit, income, and occupation
2 votes Thank Flag Link Sun Mar 18, 2012
Know your credit, income, and occupation
0 votes Thank Flag Link Sun Mar 18, 2012
Don't treat your tenants as friends, it will backfire. Maintain professional and courteous relationship, it will help you when things will turn for the worst.
0 votes Thank Flag Link Sun Mar 18, 2012
Hi, First make sure you want to be a landlord and fully understand what is involved. I recommend staying local rather then being an absentee landlord, unless you have someone local that can manage the property. be sure to fully read and understand the landlord/tenant laws pertaining to your area. Lastly keep in mind wear and tear for the property, tenants don't always call when things break.

Chris
0 votes Thank Flag Link Sun Mar 18, 2012
If you are a landlord, make sure the property meets all local building codes/acquire permits if necessary; consider consulting with an attorney in order to inform yourself on any local laws, rules and regulations regarding renting and hadling of leases; who will perform any repairs/maintenance/handle emergency calls/collect rent; make sure your insurer knows the property is occupied by tenats, etc.
0 votes Thank Flag Link Sun Mar 18, 2012
It depends if you own the home and want to rent it or are looking to rent. if you are the owner you want to make sure your quailify you tenant and check their references. Visiting them where they live will show you how they will treat your place. If you are looking to rent, i would make sure you are renting from the real owner and do not mail or wire money out of state or country as it may be a scam
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sun Mar 18, 2012
Things to consider:

1. your renters will probably not take care of the house as well as you would

2. the value of the home might go down because it is rented

3. you will have to spend money, at some point, to fix it back up if you decide to sell later
0 votes Thank Flag Link Sun Mar 18, 2012
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