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11 registered members (BACK40, AMB, russellb, rrice0725, CAL, BRP549, CCC, Alb, Big Rack, kyles, sloughfoot),
1,201
guests, and 0
spiders. |
Key:
Admin,
Global Mod,
Mod
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Re: Renting a house. Need advice
[Re: taggedout]
#1796487
07/26/16 05:44 AM
07/26/16 05:44 AM
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Joined: Nov 2015
Posts: 14,089 Chilton County
MarksOutdoors
Booner
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Booner
Joined: Nov 2015
Posts: 14,089
Chilton County
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And be sure to drive by where they are living now. That is what your place will look like a month after they move in.
"The true soldier fights not because he hates what is in front of him, but because he loves what is behind him." -G. K. Chesterton
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Re: Renting a house. Need advice
[Re: taggedout]
#1796513
07/26/16 06:05 AM
07/26/16 06:05 AM
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Joined: Jul 2010
Posts: 9,166 B'ham
Goatkiller
14 point
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14 point
Joined: Jul 2010
Posts: 9,166
B'ham
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Remember to charge them an application fee to cover the cost of the report. Should be a local collections agency you can get to run their report for a fee.
And do what Marksoutdoors said. That is very true.
No government employees were harmed in the making of this mess.
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Re: Renting a house. Need advice
[Re: taggedout]
#1796525
07/26/16 06:12 AM
07/26/16 06:12 AM
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Joined: Feb 2014
Posts: 1,007 Roll Tide Town
Smoke_Diver
6 point
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6 point
Joined: Feb 2014
Posts: 1,007
Roll Tide Town
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Or you can post it on craigslist and rent it to Gary and SouthBamaSlayer.
-“No politicians, no salesman and very few friends allowed.” -Jbatey1- "I'd rather be a happy Bammer eating ribeye in a trailer than a miserable barner eating boogers in a mansion." -“If you gonna be stupid, you better be tough!”
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Re: Renting a house. Need advice
[Re: taggedout]
#1796531
07/26/16 06:18 AM
07/26/16 06:18 AM
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outdoorobsession
Unregistered
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outdoorobsession
Unregistered
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Heck yea...but get the cameras installed FIRST.
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Re: Renting a house. Need advice
[Re: Smoke_Diver]
#1796532
07/26/16 06:18 AM
07/26/16 06:18 AM
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Joined: Aug 2003
Posts: 3,995 pensacola,fl
dagwood
10 point
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10 point
Joined: Aug 2003
Posts: 3,995
pensacola,fl
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Also, keep in mind when you rent your primary residence, you will loose your homestead exemption. May not be a big deal in Alabama but I live in Florida and it can be. I rented my residence when I got remarried years ago and my payment went up about $200/mo.
jmlane
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Re: Renting a house. Need advice
[Re: slanddeerhunter]
#1796667
07/26/16 09:09 AM
07/26/16 09:09 AM
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Joined: Aug 2008
Posts: 5,342 mobile
charlie
12 point
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12 point
Joined: Aug 2008
Posts: 5,342
mobile
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It's two of the last 5 years you had to have lived there. There are a lot of other exemptions for partial tax write offs for capital gains as well such as moving for work, illness, divorce, etc. It's complicated and if it's a lot of money you should talk to a cpa. It may have changed but when I rented mine if you rent it over three years without you living in it , you will have to pay capital gains on it when you do sell
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Re: Renting a house. Need advice
[Re: JAT50]
#1796777
07/26/16 11:23 AM
07/26/16 11:23 AM
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Joined: Apr 2000
Posts: 12,246 Oxford, AL. USA
Big Game Hunter
Doesn’t Know His Code
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Doesn’t Know His Code
Joined: Apr 2000
Posts: 12,246
Oxford, AL. USA
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If the renters want to pay in cash you don't want them I only accept cash. No checks allowed.
IKNOWMYPHUCKINGCODEDAMMITYOUDICKHEAD!!!
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Re: Renting a house. Need advice
[Re: taggedout]
#1796784
07/26/16 11:27 AM
07/26/16 11:27 AM
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Joined: Apr 2000
Posts: 12,246 Oxford, AL. USA
Big Game Hunter
Doesn’t Know His Code
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Doesn’t Know His Code
Joined: Apr 2000
Posts: 12,246
Oxford, AL. USA
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You can have a credit check done but keep in mind, a fair % of folks that are renting don't have good credit. I'm not saying all have bad credit but from my experience, if they had good credit they'd buy a house.
If I were you, I'd consider a lease purchase. Take a fair amount down and figure them a monthly payment for 10 years @ 10-15% interest. Most of the time, they will never actually finish paying before moving out. You get the deposit, years of rent, and you get the house back and you start over.
Also, if the house is "theirs" they tend to take better care of it.
IKNOWMYPHUCKINGCODEDAMMITYOUDICKHEAD!!!
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Re: Renting a house. Need advice
[Re: taggedout]
#1796906
07/26/16 01:09 PM
07/26/16 01:09 PM
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Joined: Dec 2014
Posts: 5,034 Northport, AL
Phil_Army
12 point
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12 point
Joined: Dec 2014
Posts: 5,034
Northport, AL
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Here's what I would make sure of:
1) Monthly income needs to be greater than 3x the rent amount ($900/month rent x 3 = $2700/month minimum income). Get paystubs from employer and call the employer to verify that they work there and are in good standing
2) Verify their rental history. Call their previous landlords and see what kind of renters they were. If they can't provide that to you, make them pre-pay for the last month's rent with the security deposit and the first month's rent. It's more risky renting to people who haven't rented before or who can't provide landlord contact info.
3) Don't give them a key to the house until they transfer the utilities into their name and ask for proof (account numbers). If you give them the keys without doing that, you could get stuck paying their utility bills
Broker/Owner and Area Representative for 1st Class Real Estate 2018's #1 Real Estate Agent according to the Tuscaloosa News
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Re: Renting a house. Need advice
[Re: taggedout]
#1797399
07/27/16 02:38 AM
07/27/16 02:38 AM
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Joined: Apr 2000
Posts: 12,246 Oxford, AL. USA
Big Game Hunter
Doesn’t Know His Code
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Doesn’t Know His Code
Joined: Apr 2000
Posts: 12,246
Oxford, AL. USA
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Just remember one thing. It's a business and the house is an asset of that business.
IKNOWMYPHUCKINGCODEDAMMITYOUDICKHEAD!!!
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