Comments on: Is it a good idea to rent your house or to just sell it?

By: Isabella Caylee Marie Richards!!

Isabella Caylee Marie Richards!! — Wed, 22 Apr 2009 19:49:54 +0000

rent it, sell it a couple of years later, you will get much more and will be better in the long run

By: schwildcat1977

schwildcat1977 — Sun, 19 Apr 2009 08:03:55 +0000

If it is that dated then it will be very hard to sell it with out putting a lot of work into it first.

With renting you can get some money out of it without absolutely having to do any updates as long as everything works properly.

By: Irvin W

Irvin W — Sat, 18 Apr 2009 04:52:03 +0000

Usually I’d say in a market like today to rent it out for awhile until financing becomes “friendlier” making it easier to sell. This, however, doesn’t sound good at all. It’s very unlikely your mom is going to be able to even begin to manage this house properly. There are certainly management companies out there but….

I’m assuming she owes nothing on the house. If it’s that dated perhaps this will be attractive to an investor willing to go in and fix it up and resell it or rent it out. I’d say put it on the market, sell it and put the cash in the bank. There’s just too many bad things that could happen (and likely so) for her to rent it out.

BTW, I rent out quite a few (mainly college rentals) so I’m not “anti rental property ownership”. I just think she’ll be better off cashing it in and “moving on” as someone above said.

Best of luck!

By: glendaokoeguale

glendaokoeguale — Tue, 14 Apr 2009 20:22:05 +0000

She can do both. I would find a good tenant to rent it out to (preferably a short term lease), that way she would have some form of income and also put it on the market for sale.

By: the d

the d — Sun, 12 Apr 2009 02:09:13 +0000

i was once a landlord and i would prefer to rent a to a family.

However, it can be good way of going about things.

90% of your problems of being a landlord are solved if you find a good tenant, that is not always easy to do.

By: bearr41

bearr41 — Fri, 10 Apr 2009 23:18:34 +0000

Very bad idea. If she is in poor health then she is not going to be an effective landlord. Also, if the house is in bad shape it is a liability and the renters could end up suing her. They will likely tear the place up. And, it is unlikely that she will make money off the deal.

Sell it and move on.