Great post and outstanding insight in the replies. I'm looking to run a couple rent houses after we move to tulsa this summer so I'm grateful to the OP and everyone that's been responding with their experience.
i have 23 rentals . do most maintenance myself .with exception of what has to be licensed. i use tenant info service in okc,they have a database of problem tenants. if you have a problem tenant you can provide info to be added to that database. tenants pay application fee. since i have used them i have not had a tenant that damaged a property or had to be evicted. you can set your own qualifications within reason to rent, but must be the same for everyone. i do not allow pets at all. i love my dog and if she tears something up i fix it. i just dont want to pay for everyone elses pet.
do your due dillegance on the proposed renter. Even so far as to chek their previous utilities . You would be surprised how many folk skip out on utilities woing. That means they will skip out on you to.
Casually walk with them to their car. If they dont take car of their car, and I mean loads of junk in the car, hamburger wrappers, coke cans trash, thats how they will take care of your home.
Having delt with it for years, there truely are people who deserve to live under a bridge.
THe other posters have given you some EXCELLANT advice. You listen or you will be burned big time.
Casually walk with them to their car. If they dont take car of their car, and I mean loads of junk in the car, hamburger wrappers, coke cans trash, thats how they will take care of your home.
Having delt with it for years, there truely are people who deserve to live under a bridge.
THe other posters have given you some EXCELLANT advice. You listen or you will be burned big time.
I pay 10% of the rent to a management company, they rent it out, do repairs up to $100, evect if needed, clean and ready between tenants.
I do nothing but own the house.
For 20% they will guarintee 12 months a year rent.
I do nothing but own the house.
For 20% they will guarintee 12 months a year rent.
Thank you all!
The only thing I can add is to purchase rental property in a desired area. The renters seem to be higher quality, pay thier rent on time, and will take decent care of the property. This property may cost a little more but the hassles are fewer and the investment is better in the long run.
