https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Fri, 17 Apr 2026 21:24:45 +0000 https://boards.hellobee.com/topic/success-renting-out-your-house#post-2476801 Sat, 27 Feb 2016 00:34:13 +0000 Kimberlybee 2476801@https://boards.hellobee.com/ <p>@youboots: We own our condo but one of our neighbor rents his unit out. The tenants had to put down a $2000 deposit for her 2 dogs. I thought that was pricey but the renters didn't think it was an issue at all. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2476790 Fri, 26 Feb 2016 23:29:33 +0000 sarac 2476790@https://boards.hellobee.com/ <p>Yeah, make sure that you have $5000 minimum, ideally $10000 in the bank for surprise repairs. We had what I thought was a decent amount in savings, and then got a call that surprise, the entire sewer needs to be replaced, tonight. $6000 dollar bill due the next day. Which was painful, to say the least. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2476789 Fri, 26 Feb 2016 23:21:35 +0000 youboots 2476789@https://boards.hellobee.com/ <p>We rented our house to a couple for 3 years through an agency before we gave them 60 days notice because we sold it. Turns out their cat had fleas. There was an infestation it had to be bombed and the carpet replaced. Other than that they paid on time and were good renters.</p> <p>I vote no pets. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2476786 Fri, 26 Feb 2016 23:13:10 +0000 Foodnerd81 2476786@https://boards.hellobee.com/ <p>@Littlebit7: good points. Our last apartment the owner lived in the buildings and thought he could DIY so many things that were way beyond him. We stuck it out because the rent was way below market value but it was annoying. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2476724 Fri, 26 Feb 2016 21:38:32 +0000 Littlebit7 2476724@https://boards.hellobee.com/ <p>This is sorta not what you were looking for but I'd like to offer this up from a renters perspective. We have always rented. I love renting. And generally we have always rented from owners, not from huge rental agencies. When we have a good landlord/owner, it is such a great relationship. I think we are great tenants. We care for the properties we live in. That being said, you must be aware that as a landlord, you have to be 100% committed. Either have a company to handle your property and manage it, or have a plan and finances to replace any appliance at a moments notice, have a plumber/electrician/handyman on call. Not the time for DIY. In our current nice newer condo the landlord has replaced kitchen lights, the dishwasher and now the stove (all high end appliances). Our last place had roof leaks, all three appliances die, and radiator leaks (prewar NYC building). But since we had a great relationship with the owners we stayed in each apartment for 6+ years and left on great terms. Our landlords ever gave gifts for our baby when she was born!<br /> And don't hike rent without good Reason. Nothing pisses off a renter more. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2476619 Fri, 26 Feb 2016 19:37:41 +0000 Foodnerd81 2476619@https://boards.hellobee.com/ <p>I'm happy to read these stories because that's what we are currently planning to do when we move. We live in a really hot housing market so it should be a good investment. We will likely use a property management company- dh talked to one who said as long as they are the broker who initially rents the condo (tenant usually pays the fee) they will act as property manager and only charge us when they have to do something, not a monthly fee. So we will see... </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2476613 Fri, 26 Feb 2016 19:26:45 +0000 sarac 2476613@https://boards.hellobee.com/ <p>We did, and the experience with the property management company was great. I would highly recommend going that route. We did have terrible renters, though. After a year there, they complained that 'black mold' was growing in the bathroom. When the landlord sent me a picture, it was clear that the tub had just never been cleaned in the year they'd been there, so of course it was moldy. They wanted us to replace the entire bathroom. We sold the house instead, but it was a real wakeup call to just how little a renter really cares for your house. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2475914 Fri, 26 Feb 2016 10:17:23 +0000 emilye519 2475914@https://boards.hellobee.com/ <p>Thanks! This makes me feel a lot better. I think we are going to talk with a property management company to see what our options are and go from there. We'd rather clear a little less and have the stress off our shoulders.</p> <p>I have heard so many horror stories about people renting out their houses that the thought of it was completely overwhelming, but it sounds like it's doable and so long as you do the front work that you should be okay. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2475886 Fri, 26 Feb 2016 10:04:57 +0000 Anagram 2475886@https://boards.hellobee.com/ <p>I also did all the renting/repairs myself. I didn't use a property management company, to lower costs and clear a little money each month. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2475883 Fri, 26 Feb 2016 10:02:59 +0000 Anagram 2475883@https://boards.hellobee.com/ <p>I bought a house before meeting DH, which I lived in for 3 years. After Dh and I married, we moved across the country for his job. The move was quite sudden and we were planning a wedding, so I decided to rent rather than sell when I already had my hands full searching for a new job, moving cross country, and planning a wedding.</p> <p>It was rented for the past 3 years with no issues UNTIL we got a bad renter this last August. He paid rent the first month and never again and we had to legally evict him. In the meantime, there was some water damage that he didn't tell us about, which made the problems worse. Although the eviction process and fixing the water damage was $$$ and stressful, in the end renting was still a good decision because I had other people putting equity in my house for 3 years. </p> <p>When I sold just a couple of months back, I was able to replenish our savings from the water damage/eviction costs, plus cleared 10 or 15 grand after paying realtor fees.</p> <p>I highly suggest you rent it above-board and report the income on your taxes, because then you can also deduct all the expenses (mortgage interest, property taxes, repairs, broker or realtor fees, cleanings, gasoline when you are visiting the property for maintenance, etc). </p> <p>Get a good, iron-clad lease and pay the $25 to run a credit report (or call and check past housing references) to save yourself a headache. Treat it like a business, and have some back up money set aside for the repairs that will inevitably have to happen. Things can and will break and will have to be replaced ASAP, so you should have savings to cover that (knowing you will be able to deduct later than year on your taxes).</p> <p>In the 3 years I rented my house, I had to replace the garage door opener, had to repair the fridge once, had to buy a whole new washing machine (it was old, so I knew it wouldn't last forever), and had the AC worked on once. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2475869 Fri, 26 Feb 2016 09:55:37 +0000 megjay18 2475869@https://boards.hellobee.com/ <p>we're renting out our condo in chicago after moving to st. louis, we tried to sell it but the market just wasn't good. we're paying a company to handle everything for us - finding the renters, the lease, any maintenance calls, monthly rent, etc. i think we're in the hole like $40 a month, but this is much better than paying the full mortgage and we're still taking money off our principal. and we don't have to think about it or do anything with it - just collect the check. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2475867 Fri, 26 Feb 2016 09:54:19 +0000 yoursilverlining 2475867@https://boards.hellobee.com/ <p>We do! When we bought our current home, we kept our condo and rented that out. It was a really overall painless process for us, which I know can vary. </p> <p>My (strong) suggestions:<br /> - Draft a very detailed and thorough lease (or have an attorney draft one)<br /> - Use a management company so you are an invisible landlord (unless you want to deal with 2am calls!). Your management company should also be properly screening prospective tenants (background check, credit check, etc.)<br /> - Read up some on your local tenant/landlord laws so you have a basic understanding of your rights, your tenant’s rights and what you need to do (i.e., are you required to keep their deposit in a separate interest bearing escrow account? Is one party legally responsible for utilities? Etc.)<br /> - Only rent out your home if you can afford to carry 2 mortgages. In other words – don’t do it if you HAVE to have that income to keep current on your mortgage. </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2475864 Fri, 26 Feb 2016 09:52:35 +0000 peachykeen 2475864@https://boards.hellobee.com/ <p>We did this with DH's pre-marriage home for 2+ years. Financially, it was well worth it in our area, but we did everything ourselves so we saved money that way. It paid for the mortgage and insurance with about a $400 buffer each month.</p> <p>However, we are in a similar situation where the house is 45 minutes from our current house, and it took a toll on our family when DH would have to go out there for management stuff. If you can afford to use a service, I think I would do that if we do it again.</p> <p>Make sure you are very careful putting together your lease documents - luckily we've been well-protected in that area but it is hard to find responsible renters and much of the rental laws are in favor of the renter, not landlord.</p> <p>We're currently getting ready to sell because the market is finally doing better in our area and I'm really happy to get our time with DH back! </p> https://boards.hellobee.com/topic/success-renting-out-your-house#post-2475806 Fri, 26 Feb 2016 09:30:29 +0000 emilye519 2475806@https://boards.hellobee.com/ <p>Hi Bees! Has anyone had any succes or any experiences at either way renting out their house?</p> <p>A little backstory, we just moved to a new area and bought a house less than a year ago, and at the time I wasn't working but since I've gone back to work because we need the money but the commute is killing us. There aren't any good daycare near our house so DD who is 1 has to commute with me and it's an hour to her daycare each way (sometimes more) although it's only 20 miles from our house traffic is brutal around here. So now we're thinking of renting out our house and moving closer. Anyone have any experience with renting out your home? </p>