harperalbrechtsen640726

Don't rent your house- lease option it
The easiest method to have houses is to lease option, not rent. That way you have a better made of tenant, lots more people to pick from, more money up-front, more cash month after month and no repair headaches. Sounds good, don't you think? I usually get $100 a month extra with a house until $150,000; up-front option money is about 3% with the sales price. If your home needs work, I offer a work credit whenever they do it themselves. If the house is a disaster, then I offer my special, "No money down, you fix" deals (On those deals I get approximately 150 calls each day). If you are able to enter light, you don't have a lot of money tied up in fix up costs. Long ago, I learned never to tie up my money in keepers.
Since you will get numerous calls on these ads, you need to minimize the effort expended on your side. The ad lies within the houses to rent and houses for sale sections.
A typical ad reads a significant house reads:
Rent to possess
Cute 3/1 fenced yard. Nice area. Low down
$850 mo+ $100 mo towards purchase
If the house is an emergency, I always clean it first. This is how the ad reads:
Rent to Own- $0 down-
U fix. 3/1 fenced yard. Nice area
$850 mo + $100 mo towards purchase.
Notice that the price and rent have not changed? Slick huh?
You must have an outside number with another voice mail. On the voice mail it is possible to supply the address and hype the house. Tell them drive an automobile frist by and have a flier and look inside the windows. At the exact property is some other contact number, which is my cell. That way you simply speak with people who have seen the area, and seen the home, and know how the sale works. At the home you do have a flier that outlines what's required. I have about 100 fliers and appearance every few days to see if it is empty. Tape someone to the window in the event that someone takes the last one.
Make sure the exact property is clean and neat even though it takes work. Leave your window coverings open. Check your voice mail regularly given it will complete fast. Mostly there'll be hang-ups. The calls you will get back are the ones you will want to talk with. Be sure to take the time to screen the callers. Ask them about employment, who will live there, just how much they earn, how much time presently address. Do they have the necessary option money? Verify that they can earn no less than 3 x the rent amount per month. How is their credit? If it is all totally ok, setup a showing time.
Make sure you schedule several appointments at the same time. Tell them to take $100 in cash plus $25 application fee just in case they like the house. When you have the showing, arrive ten minutes late. Let them see other people there also. Take applications in the qualified ones together with their money. No money-no application. Don't enquire about marital status- it's illegal.
Every adult gets his/her own application. Date and number the applications. You have to take the first qualified tenant, not the most qualified.
Check out everyone thoroughly. When you have made a decision arrange for the money to obtain the rest with the first month's money quickly. You would be surprised the number of people walk from $100. Don't make ad out of the paper in anticipation of having ALL the money. Things can be wrong up to the very last minute. Return all unacceptable deposits without the $25 credit check fee. If possible, see a prospective tenant's house to have the rest in the money to see how they live. At the very least, have a look at their car. If you'll find mounds of McDonald's wrappers for the back seat, think. Look at their license to view if they are really who they are saying they are. Take only cash until they relocate.
If you actually like them nevertheless they do not have all the money needed, let them have a payment schedule- in writing- but call it rent-owed. The money they pay first is option money. The money they owe you is rent. That way whenever they relocate and welch, it is possible to evict them for non-payment of rent. It's tough to evict because of non-payment of option money. https://www.sp3realestate.com.au/ succeeded in doing so successfully even from out of state. Many times I never met the folks. What do I care what they appear to be. If they qualify, they qualify.