sign in • sign up
web   discussions   tasks   blogs   photos

Apartment owners: would you rent your home?  email this discussion to a friend?

myLot reputation of 90/100. camomile07 (447)   ranked 952 out of 19,281 in questions & answers 2 years ago

A lot of people who owns an apartment or house where they are not living in are wondering if they should rent it. Many people decided to rent it so they get another income every month, ones to recieve a bit of money, others to pay the apartment from this money they recieve as they still don't have it paid. Other owners prefer to have it closed, because the are frightened and worried about if the leaser would not pay so what should you do in that case. Sometimes it's difficult to keep them out.

Do you have any property which you lease to another person to get another income? What's your experience about it?
Are they positive or bad? Or do you belong to those who prefers to keep it closed?

 

questions & answers
sponsors
77 Central Apartments
Immediate I-90 Access. 1,2,3 Bedrooms. Close Trails, Parks, Commuting
www.77central.com

leasing
Find A Car In Your Area. View New& Used Local Listings Now!
AutoTrader.com

Find Homes For Rent
Compare Apartment Homes for Rent. See Prices, Locations, and Reviews.
www.ConnectingNeighbors.com/Homes

User has not selected a best response.
tags:  rent, apartment, leasing, renting, getting additional income
 
1. myLot reputation of 99/100. phoenix8606 (2645)   ranked 2 out of 19,281 in questions & answers   2 years ago

hell0!
well, i don't have an apartment, but
I guess that if i have some someday
I would never rent it, because I actually
don't like when someone is in my property and
do what he/she or his/her family wants, because
i have bought this apartment with my own money and
the rentners can ruin it, and here in my country
people really don't like to keep that's what isn't
theirs :( and they just move out when they want
without any notifications!
so that's why I won't rent my apartment/house
if I have some, but maybe if I really need some money
and there is no other choice then I would]
probably rent it, but only till I have the money I need
and then will just stop renting it to strangers!!
.....


myLot reputation of 90/100. camomile07 (447)   ranked 952 out of 19,281 in questions & answers  2 years ago

Well, the money you receive renting it can be used to be arranged, once something might be damaged. But that's right, to rent something yours is always a risk because you never know who is comming in.

Anyway, once you rent an apartment, you usually make a contract where you estipulate the conditions. If the leaser damages something inside the apartment, usually he should take care of it and repair it or pay to someone to do it. Otherwise, if something get's wrong because it's already old (for example: fridgen has got a break down and doesn't work well or any more), so then the owner has to reemplace it.

But I can understand your point of view when you say that something which belongs you souldn't be rented.

77 Central Apartments Immediate I-90 Access. 1,2,3 Bedrooms. Close Trails, Parks, Commuting  www.77central.com
 
2. myLot reputation of 90/100. Cutie18f (2471)   ranked 2,586 out of 19,281 in questions & answers   2 years ago

In my case, I am the one who is always renting a house or an apartment. I may be delayed a couple of months in the rent but that is the longest. I try to pay my rent on time. If I own many houses or apartments, yes, I will rent it out for extra income but maybe it is necessary to screen those who want to rent.


myLot reputation of 90/100. camomile07 (447)   ranked 952 out of 19,281 in questions & answers  2 years ago

Yes, sometimes at more nowadays you have to be sure whom you rent your properties in case of having some. So it might be a good idea to proof the person first. But it's still a risk anyway.

leasing Find A Car In Your Area. View New & Used Local Listings Now!  AutoTrader.com
 
3. myLot reputation of 24/100. radjapulsa132 (166)   ranked 17,524 out of 19,281 in questions & answers   2 years ago

Thank god i had a home since 1999. i do not own property

Find Homes For Rent Compare Apartment Homes for Rent. See Prices, Locations, and Reviews.  www.ConnectingNeighbors.com/Homes
 
4. myLot reputation of 96/100. newtalent (676)   ranked 1,360 out of 19,281 in questions & answers   2 years ago

Well renting a primary home in Florida would put you at risk of losing your homestead exemption if you should have it, so I would look at the income versus the tax liability. The I would also be afraid of potential damages to the property, or the tenant not paying and having to still pay all the bills while I file eviction papers and get them put legally. It is a hassle for short term in my opinion.

Apartment Rentals Find Local Furnished & Unfurnished  yellowpages.com
 
5. myLot reputation of 75/100. dsplay5 (212)   ranked 4,935 out of 19,281 in questions & answers   2 years ago

I've lived in a rented apartment, and I had to make a contract with my signature down. I don't think someone will dare not pay the owner because then he'll be wanted from the police. Even When I was undersigning I had to pay the half of the first payment for the month. So if I had other houses/ apartments in addition, I would rent them all.


myLot reputation of 90/100. camomile07 (447)   ranked 952 out of 19,281 in questions & answers  2 years ago

Of course, as an owner of one or more apartment(s), you could rent them and get a nice and easy income. It's also very important to make a contract before renting an apartment, it's important for the owner but also for the person who rents it in case of having any kind of problems in the future. Because words can be taken away by the wind! You always have to take care of your rights.


myLot reputation of 75/100. dsplay5 (212)   ranked 4,935 out of 19,281 in questions & answers  2 years ago

Yes, you are absolutely right. Always contract with signature or nothing.

4 BR 3 BA $875 Rent 2 Own Hundreds of Locally Available Homes Any Credit Qualifies. Always Free!  OwnerWiz.com/No-Downpayment
 
6. myLot reputation of 98/100. jugsjugs (6366)   ranked 51 out of 19,281 in questions & answers   2 years ago

My husband and i were only on about this a few months ago and we were saying that perhaps in a few years we may rent our house out and either rent a smaller one or even buy another house.This way there would be extra income aswell as we could down size and become owners of two houses.


myLot reputation of 90/100. camomile07 (447)   ranked 952 out of 19,281 in questions & answers  2 years ago

That's an easy earned income always if you have the right person in. The person who rents your house has to be a correct person who takes care of what's yours and he or she has to be a good payer and always in time.

Luxury Buffalo Apartments The Granite Works (Allentown), W/D In-Unit, Gated Parking, $895/up  www.graniteworks.com
 
7. weeny2010 (11)   2 years ago

if i own an apartment or house ,i may be very pleased to live with the one that likes my house.but the one must be match my condition.and so we can decorate our house together according to our own favour.That will be a dwelling place with fine sweet.


myLot reputation of 90/100. camomile07 (447)   ranked 952 out of 19,281 in questions & answers  2 years ago

But sometimes it might not be easy to share home with another person and more difficult it could be if the other person is a stranger (a person you don't know yet). So you should be very careful with this.

Preferred Mobile Homes Specializing in Quality Affordable Homes Call 616-534-3400 Today!  www.PreferredMobileHomes.com
 
8. myLot reputation of 97/100. lelin1123 (9052)   ranked 141 out of 19,281 in questions & answers   2 years ago

I have never leased or rented out my homes. I have my home on the market to sell right now. I thought for a moment of renting it out but I have heard to many horrible stories. You have to remember a tenant will never take care of an apartment as good as the owner. They don't care because it doesn't belong to them. The other thing is if something happens that they stop paying rent and you try to get them out they will trash the apartment. I have seen picture of diasters and have heard the stories. Holes in the walls, garbage and their belongs thrown all over the apartment. Its just not worth it to me. Unless you know the people family or friends I would never rent or lease my home or apartment.


myLot reputation of 90/100. camomile07 (447)   ranked 952 out of 19,281 in questions & answers  2 years ago

Bad experiences of course, but it depends on the person you rent it to. That a person rents an apartment or house, doesn't mean that he or she does not take care of your property because he or she isn't the owner. If the renter does not take care, it's because the person is irresponsible with almost everything. So someone who wants to rent a property has to be very carefull with whom you rent it to.

n Spain, many people couldn't pay their properties any more and had to give up their properties. Because of the financial crisis, more people are renting an apartment instead of buying their own one (as they used to before any crisis). As many renters stopped paying because they lost their job, the spanish government dictamined a new law which helps to the owners to take out of the apartments faster the non-paying renters. New helpfull laws for owners which should help them rent their properties instead of keeping them closed.

Furnished Apartments Stay Comfortable When You're Away From Home. Find Corporate Housing Now  reliantworldwide.com
 
9. myLot reputation of 94/100. mavieserrano728 (397)   ranked 1,202 out of 19,281 in questions & answers   2 years ago

We live in an apartment type of house and we already tried to have it rented for extra income. It was a hassle because the price that was actually not enough for their consumption especially the water. They also tend to modify whatever we have in the kitchen such as our stove. We were very dismayed because we really had no choice at that time because my and my partner does not have work. So when they paid their rent in advance, I started to work already and after 4 months, we informed them that we will increase the price, they decided to leave. We were not affected at all. In fact, we felt very relieved.thumbup


myLot reputation of 90/100. camomile07 (447)   ranked 952 out of 19,281 in questions & answers  2 years ago

In those case, possibly a good option might be (I listened a lot of people already doing it) to includ the services like water and electricity with a limit. As I don't know the rates they charge for there where you live, I will give an example: some owners put into the contract something like 'serviceses (water and light) included until sixty dollars a month (50$). If the bills are over that amount, renter has to pay the difference.' You always have search all possibilities to assure your situation so that you won't loose.


myLot reputation of 94/100. mavieserrano728 (397)   ranked 1,202 out of 19,281 in questions & answers  2 years ago

If we have to add a separate meter, then we will end up spending. We don't actually prioritize it as of now. We are thinking of it as a potential extra income probably in the future.


myLot reputation of 94/100. mavieserrano728 (397)   ranked 1,202 out of 19,281 in questions & answers  2 years ago

I mean after we have experienced with the first one who rented the room, we thought that we were not ready yet and have to take some time to really think of it as a potential source of income.

Apartment Finder Do Not Settle on any old Apartment. Search Apartments for Rent Today.  RentalSpaceNetwork.com
 
10. myLot reputation of 97/100. sid556 (18646)   ranked 3,126 out of 19,281 in questions & answers   2 years ago

I don't own property but I am friends with some people that do own. The lack of payment is only a small part of the problem. My friend rented an apartment to one couple who not only did not pay their rent and it cost him money to evict them, they totally trashed the place. They were there for maybe 6 months. It cost him a lot of money but he went in and re-painted and put in new carpets and repaired all the damage. It was a really cute apartment. He rented it to a young couple whom he did a background check on. They had decent jobs and seemed to be reputable. They broke up within a couple of weeks after moving in. They guy stayed on and held parties and completely destroyed the place...holes in the walls, burn holes in the carpets, graffitti drawn on the the walls in magic marker all throughout the place. It was beyond belief. It took him weeks and weeks and much money to fix the damage done. The money put into it was far greater than the rent. Of course, he took the kid to court which cost him money and the kid was ordered to pay restitution. Still, that doesn't mean the kid will pay and even if he does, it will be very slow in coming. No consideration was ever given to my friend's financial ability to put the place back up to standard but every consideration was given to this kid's ability to pay back the damage that he deliberatly caused.


myLot reputation of 90/100. camomile07 (447)   ranked 952 out of 19,281 in questions & answers  2 years ago

That's of course a bad experience. I also rent an apartment so can understand their problems, even until now I had good luck and still didn't passed through a similar experience like this. So I wish them good luck and hopefully they get everything paid once the court orders it, even if it may takes plenty of time. Beside that, I usually take photos of the apartment 'before' and 'after' renting it, so when renters are leaving, I can proof changes through the photos. Of course, it won't stopp them with a bad behaviour, but you already have something in your hands to proof their attitude.

House For Rent In Looking For House For Rent In? Find It Nearby With Local.com!  Local.com
 
sponsors
Apartment Rentals
Find Local Furnished& Unfurnished
yellowpages.com

4 BR 3 BA $875 Rent 2 Own
Hundreds of Locally Available Homes Any Credit Qualifies. Always Free!
OwnerWiz.com/No-Downpayment

Luxury Buffalo Apartments
The Granite Works (Allentown), W/D In-Unit, Gated Parking, $895/up
www.graniteworks.com

similar discussions
Would you rent a room in your home?
To make ends meet if you had a empty room would you rent it out? I am wondering at this point what...
my first 1000 neopoints
Ok this evening i reached my first 1000 neopoints.So i think i can rent 3 referrals now.The...
Landlord is really pissing me off.
He's going on and on about trivial things lately and it's really driving me up the wall. I don't...
My friend got evicted!!
She wasnt paying her rent, and she had several complaints from other renters. I got a call...
I would rather rent a home all my life than build or buy one!
Yes. I have learnt this the hard way. Unless I had a big inheritance I could use or I bought big...
Mad at roommate
Right now I'm mad at our roommate. My husband cousin she lives with us. This weekend out rent was...
Should parents charge their adult children rent?
You kid just reached eighteen, or your adult child is coming home again because they graduated...
moving... places.
i've seen this movie of hillary duff before, it's about moving from one place to another every time...
What is a direct and rented referral?
I have been surfing through the net and I was wondering how can you get a referral. what is a...
Willing to live in a rented house for all your life?
I got curious about the thoughts that how many people could endure to live in a rented house for...
sponsors
Apartment Rentals
Find Local Furnished & Unfurnished
yellowpages.com
4 BR 3 BA $875 Rent 2 Own
Hundreds of Locally Available Homes Any Credit Qualifies. Always Free!
OwnerWiz.com/No-Downpayment
Luxury Buffalo Apartments
The Granite Works (Allentown), W/D In-Unit, Gated Parking, $895/up
www.graniteworks.com
Preferred Mobile Homes
Specializing in Quality Affordable Homes Call 616-534-3400 Today!
www.PreferredMobileHomes.com
Furnished Apartments
Stay Comfortable When You're Away From Home. Find Corporate Housing Now
reliantworldwide.com
Apartment Finder
Do Not Settle on any old Apartment. Search Apartments for Rent Today.
RentalSpaceNetwork.com
House For Rent In
Looking For House For Rent In? Find It Nearby With Local.com!
Local.com
return to mylot
We are loading a word from our sponsors. No thanks, cancel loading.