Re: Cant rent small home! - Posted by Anne_ND
Posted by Anne_ND on September 19, 2004 at 11:00:02:
One thing about stick-built homes: the market doesn’t lie. If it’s been vacant for 2 months you need to consider that the rent is too high. 650 sq ft is pretty small, and if I remember correctly, it’s in a MHP, so perhaps market rents for similar houses that are in non-MH neighborhoods are going to be higher. Just something to consider about the rent.
For my stick-built rentals I have a lease that offers a $50 “discount” for rent paid on time (by the 1st in my case) and then the rent automatically goes to full amount after the 1st.
Most people do not have sufficient cash for the full security deposit, so in order to move in my tenants pay the full first months rent (regardless of the date they move in) and then half of the security and any pet deposits. When they pay their next month’s rent, they pay the second half. In a few cases where the people had excellent credit but a cash crunch, I took a third of the deposits down and gave them two months to pay the rest.
If they are good tenants, they appreciate the flexibility. Just be sure to screen so that you don’t get deadbeats who think you’re a pushover. I’ve never NOT been able to collect my security deposits, but I turn down a lot of people.
Finally, consider renting to pet owners if you don’t now.
take care, Anne