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Re: Rental Property
[Re: Tigger85]
#3022773
01/25/20 06:08 AM
01/25/20 06:08 AM
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Joined: Aug 2014
Posts: 13,880
Mobile, AL
SouthBamaSlayer
Gary's Fluffer
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Gary's Fluffer
Joined: Aug 2014
Posts: 13,880
Mobile, AL
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Get as big of a deposit as you can (preferably two months rent), it is a 100% guarantee that they will damage your property. Not sure two months rent deposit is legal in AL. You are correct. You can only collect a deposit equal to a month's rent. It's all about how you deal with stress. Vet the renters best you can. Should be able to find some quality people as many are coming into Huntsville for business. And that’s a law? What a crock of chit. Who cares if a property owner wants 6 months rent as deposit? If no one can afford it, he won’t rent it out. That’s just capitalism.
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Re: Rental Property
[Re: AU7MM08]
#3022784
01/25/20 07:07 AM
01/25/20 07:07 AM
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Joined: May 2007
Posts: 5,150
Satsuma, AL
Robert D.
12 point
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12 point
Joined: May 2007
Posts: 5,150
Satsuma, AL
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My parents have a rental property here in Auburn, their tenant base is vet students.
I tell them, someone spending that money putting Dr in front of their name isn't likely to trash the place, so far I've been right. I've got my mothers old house in Shalimar FL above Ft Walton. It has a steady base of Military renters from Eglin AFB or Hurlburt. The family in it now has been in it a couple three years. I'm considering a owner finance sale to them. Nice folks. My Mom had rented it for several years prior to her passing and I've rented it two years now. No complaints. Coastal Realty in FWB manages it. If it needs a significant repair I get notified and have the option to fix it myself or they'll hire someone. So far so good. I wouldn't buy another to rent unless it was super cheap, but if I had another dropped in my lap like this one I'd rent it too. There are horror stories to everything. Rental is a business like any other. How you manage it will determine 80% of the outcome.
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