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#1 |
token jewboy
Join Date: Nov 2008
Moto: CBR 900, KLR ugly ass duckling, Gas Man
Posts: 10,799
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so some of you know about my woes in selling my house, it doesnt seem to be happening to well, been on the market for 6 months and no bites at all, and I am already 70k what I paid for it. Anyway I found someone to rent it.
I have a contract with a real estate agent can I get out of it? Am I going to be screwed by not renting through her? What should I look out for? Any other advice would be appreciated.
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#2 |
Trip's Assistant
![]() Join Date: Feb 2008
Location: Imported from Detroit
Moto: 2009 HD Street Classic
Posts: 12,149
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U can get out of it. You're deciding to not sell due lack of movement. You can even blame her a bit.
As far as renting it. You can it all urself and hope for the best. Or u can hire a property management company. They usually only take a 10% cut but handle everything else. They screen, credit check, advertise, and place renters thr. They also take care of all the maintance issue tt arise. Bill u/ take from ur next month rent payment. Takes all the hassle out of ur hands. If u decide to tackle urself. Cover yourself. First & last months rent. Contract. Security deposit. Lots of pics before they move in. If u ever have to sue for damages they will come in handy. Can even have a copy of said pics and a walk thru form that the renter signs off of. Think like how it is for car rental. |
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#3 |
Imported from Detroit
Join Date: Nov 2008
Location: Michigan
Moto: 2001 Suzuki TL1000R
Posts: 989
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Go with a well known, reputable real estate management agency. They will handle everything and make it easy.
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![]() Cry Havok! And let slip the hogs of war! |
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#4 |
SFL Expatriate #1
Join Date: Nov 2008
Location: ATL Burbs
Moto: '09 Triumph Speed Triple
Posts: 4,712
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My advice is be careful and don't get sued. Or you may be given 120 days to repair one of your apartment blocks by a black judge with an attitude against whitey. You would have to live in the rundown block until the repairs are complete. Comedy would ensue and in the end, you would learn to take better care of your tenants. The end.
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#5 |
WSB Champion
Join Date: Nov 2008
Location: Anaheim, CA
Moto: 2009 Kawi ZX6R
Posts: 5,570
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So you are selling for 70K less than what you paid? Why do you have to sell now?
Becasue the economy sucks, rent it out. Most agents run a 6 month contract (which you should have specified in the beginning) and then they are renewed. If you were to sell the house within 6 months, then the agent gets their commission. Since it has been over 6 months, he shouldn't get anything.
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Train Hard Ron Paul - 2012 Mark of Excellence GM |
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#6 | |
token jewboy
Join Date: Nov 2008
Moto: CBR 900, KLR ugly ass duckling, Gas Man
Posts: 10,799
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![]() Quote:
My real estate agent gave me an 8 month contract, which is up in september
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#7 |
mmmm, Beeeer
Join Date: Jun 2009
Location: South of the D Michigan
Moto: 08 HD Ultra
Posts: 582
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I agree with Gas. Get a rental agency and get that shit managed. Especially if you are not in the area that the house is located. Just remember if you do yourself you have to do ALL REPAIRS in a timely manner and if not....YOU GET SUED. Rental agencies will take all that worry out.....for a fee, of course.
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Heres my 10¢, my 2¢ are free. Caveman ![]() |
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#8 |
Trip's Assistant
![]() Join Date: Feb 2008
Location: Imported from Detroit
Moto: 2009 HD Street Classic
Posts: 12,149
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I forgot abt the move in correlation to this. Most definately get an agency. No doubt.
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#9 |
Viff6N Mutated Warrior
Join Date: Mar 2009
Location: Texas
Moto: '01 Honda VFR 800 & '09 ER-6N
Posts: 8,704
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Ya. Make sure they only allow mid 30's or older whiteys with an income at least 80k.
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#10 |
token jewboy
Join Date: Nov 2008
Moto: CBR 900, KLR ugly ass duckling, Gas Man
Posts: 10,799
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Its gonna be an army chaplain in her late 30s
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