OT renting a house

[632 Regal]

current tennants are leaving in 2 weeks, no formal lease agreement im just fubared. I need that rent to pay this mortgage..(world of ****).

selling in michigan now is NOT an option, how do I pull this off as in getting/screening/accepting tennants in a short amount of time.

rather not go through a realty if possible.

any ideas please email me.

thanks guys.

[RobPatt]

...the local paper... or the sorts of local pub(lications) which the tenant type you'd like to attract would read...? e-mail/work bulletin boards, maybe the HR departments (long shot I don't know...) of major employers in the area, if they're hiring folks new to the area....? in any case good luck. -Rob.

current tennants are leaving in 2 weeks, no formal lease agreement im just fubared. I need that rent to pay this mortgage..(world of ****).

selling in michigan now is NOT an option, how do I pull this off as in getting/screening/accepting tennants in a short amount of time.

rather not go through a realty if possible.

any ideas please email me.

thanks guys.

[Rigmaster]

craigslist?

I know it's gotten REALLY active in this area (Raleigh/Durham, NC), mostly in the last year or so. It's now to the point where the FS section (cars and auto parts) usually get about 1 page (100 posts) of new listings per day OR more. Used to take a week or more to get 100 posts in either of those sections.

I've talked to alot of people who are amazed at the power of craigslist.

www.craigslist.org BTW

Bret.

[632 Regal]

yeah, theres like 30 postings just today in the detroit section.

craigslist?

I know it's gotten REALLY active in this area (Raleigh/Durham, NC), mostly in the last year or so. It's now to the point where the FS section (cars and auto parts) usually get about 1 page (100 posts) of new listings per day OR more. Used to take a week or more to get 100 posts in either of those sections.

I've talked to alot of people who are amazed at the power of craigslist.

www.craigslist.org BTW

Bret.

[MarkD]

I have some rental property and I always use http://www.viewit.ca/ , I usually find a new tenant within 2 or 3 days even in the $1500 to $1800/mo +hydro rates I charge for some of the units. Don't they have something similar in your area?

MarkD

[Zeuk in Oz]

current tennants are leaving in 2 weeks, no formal lease agreement im just fubared. I need that rent to pay this mortgage..(world of ****).

selling in michigan now is NOT an option, how do I pull this off as in getting/screening/accepting tennants in a short amount of time.

rather not go through a realty if possible.

any ideas please email me.

thanks guys.

When you say you don't want to use a real estate agent, have you considered using the agent to get the tennant ( and whatever they charge for that alone - here in Oz it is usually 2 weeks rent ) and then collecting the rent yourself after that ?

Do you have bond boards etc that leases have to be registered with ?

[Eric Clark]

I manage about 80 properties and our rent range is $1,200-$15,000 a month. For the DC market if it is under $1,500 craigslist is the best option. At this price it would be a one bedroom or studio. One months rent is what most agents charge and it is not worth their time if it is much less then $1,500. Even properties that go for $3,000 a month good tenants can be found on craigslist. We run credit reports on all our tenants and ask for references and if possible talk to owners/managers of their past rentals.

The best way to reduse your risk is to have a good clear lease that protects your interests. We get everything in writing to protect ourself. Just two days ago I had a tenant threaten to sue be because I am making him sign a new lease or I am terminating it. He claims to have $3000 in damage to his property from a flood. Our lease makes it very clear they we are not liable for any damage to personal property so he will never have a case. We also require all tenants to have renters insurence to cover their personal items. This is just one example of why a good lease is needed.

Send me an email if you have any more questions. I'd be happy to help.

[calmloki]

I've had recent good luck renting a small studio through craigslist - totally unscientific and anecdotal, but the responses we got from the craigslist ad were better spoken and none of them wanted to know if we took Section 8, SSI, Aid to Unwed Mothers, or any of a plethora of other government funded free rent programs for the less fortunate, drug addicted, or criminal elements. And no offense to the less fortunate - I've knowingly rented to "recovering" drug addicts, at least one murderer, a sex offender, and the mentally weak, halt and lame of many colors - but it does get tiring and it sure is easier NOT dealing with them.

That said, we don't rent anything outside a 15 mile radius. We feel that our tenants are better served when we are close at hand. It's like the two farmers who had the same size farms. One was prosperous, the other not. The less prosperous farmer asked what the richer one did differently and he replied that every day he walked his fenceline. One day he might notice that a strand of barbed wire needed a staple, the next he might pull some Tansy Ragwort (poison to cows) that had started up, the next he might adjust a gate.... but all he was doing was walking his property. We try to do that - little problems are cheaper and easier to fix than big ones. You say selling is not an option right now - consider that a local real estate rental company might be less expensive than a real bad long distance rental experience.
Tom

[trumpetr]

I also have a rental on my property,,a small but gorgeous cedar log cabin, that is currently rented out to a friend,,with no rental agreement in place.
I know its risky, to not have an agreement, but the tennant is trustworthy, and responsible.

Sounds like you need to rent your property out again fast- as others have said,,,good to use craigslist, or a property management firm- but, if you are in a hurry,,id rely on word of mouth with friends or co workers for potential prospects,,and draft up a rental agreement and get a damage deposit in advance. You, no matter what avenue you go, have the risk of someone setting up a meth cooking lab in your property.
If you have time,,let (and pay for) a property management firm to handle the details. Their lawyers can beat up other lawyers.
Getting them in, is easy. Getting them out, is a real bitch.

The only thing worse than renting, is to have a rental property, and worry about it.

[califblue]

I know a guy who knows a guy who well pay you 10K to keep a package there for a couple of weeks.. .

Good Luck