That is my question for the day- do you rent or did you buy your house? For me, I did both in my days and I have to say, both has had its advantages. Currently, we live in a house that we bought back in July 2008 and we have never been happier. However, prior to buying a house in 2008, we bought another house and had a heck of a time selling it. When we put it on the market, it stayed stagnant for months at a time. When some of the offers came in, it was at least 50K less than what we asked for the house. We just could not afford to take a huge price cut with looking on to buying a new house. So,we decided to rent out the old house, so we would have enough money to buy our current house.
Having rented a house back in 2000, I knew it was important to make sure I had good renters. If I took on renters that were deficient on their monthly payments or didn’t keep up with making sure the house was livable what was the point in renting. I also wanted to make sure both parties had the important facts in regards to the lease at hand. So, I decided to go with a rental management company. I wanted to also make sure that I maximized my profits while making sure that my new tenants were thoroughly screened. I had to know that my investment property was in the right hands. It truly was the best decision I have ever made!
The only other facet that I worried about when I put my house up for lease, is getting called at all hours of the night for property maintenance. You know what I am talking about- some tenants have no regards and will call you at all hours of the night for that ever so important repair that needs to get done, that can not possibly wait another minute. Thankfully, our tenants has never been like this but I most certainly heard horror stories about this happening. I rather have a company take care of all of this to avoid situations like this.
Today, I have two properties- two that I own, with one that I currently lease for the past 4 years. I am hoping one day to sell my old home but there is no way I am going to take a hit in this market. So for the time being I will keep renting and hopefully these renters will continue to be as awesome as they have always been!
*This is a partnered post. All my opinions are my own and not swayed by outside sources