Is renting an entry level home a good idea?

My home is a 1200sq ft, 3bd 2 bath, ? acre lot rambler. It is in really nice shape, and is in a neighborhood with lots of kids and pets which is about 30-40 mins away from the city.



If I had a renter for this house, they are likely to have kids and probably pets. My carpet is white/eggshell throughout and worried about pets destroying the carpet; I hear it is tough to find renters if I say no pets. To give you an idea of the backyard, I used to have a dog in the house and with the wet grass, rose gardens back there, I wiped its paws everytime it came into the house because I own the carpet.

If I rent it, I would be living 40mins away and don't want to hire an outside company to manage it. I don't know what to expect if I rent it out, I only hear of bad stories such as carpeting getting replaced, tore up, not paying rent, etc...

Is renting an entry level home a good idea?
the best thing is to sell.if you rent, screen the people.call the last people the rented from.or more if then give them to you. if they don't do not rent to them. worse,, they move in with kidsand you find out they are not what you think,, it could take up to 6 months to get them out if they stop paying rent.when you rent you have to expect wear and tear on certain things.good luck
Reply:thats a great idea. sell and put the money into cd's or mutual funds.also you don't have to declair the money you make on the home if you lived in it for 2 or more years. good luck. Report Abuse
Reply:forgot something. you don't have to claim it as long as you don't make over $250,th Report Abuse
Reply:you'll have to take your time and look real hard at what you want to do because like you said there's that carpet and if rent the people you rent to may not take care of the carpet. may be you can take up the carpet? if not then just PRAY that the people you rent to will take care of your place.





Good Luck !!!!
Reply:I dont think anyone will treat your house as good as you do. With renters you are taking that chance.
Reply:After owning dogs and rabbits. It's more likely the kids would destroy the place and not the animals.
Reply:Have and enforce a no pets policy. Charge a regular deposit and pet deposit if you are allowed, and then protect yourself...I guarantee if they get a pet, they will not wipe their feet. The people won't even wipe their own feet!



It is not tough to find renters when you say no pets, but it is harder.
Reply:Never compromise on your standards. As a rule, most renters will treat your house/property with a level of respect and care far below the home owner.... that is why they rent. Also, just because someone is a "professional" doesn;t mean that they are clean as well. Some of the best renters I have had are single parents who I give a good rental price to, because they know the deal they are getting and want to stay there. Hope this helps!



Brad