Question for Renters and Landlords

[australorpchick]

How did you find the place you're renting? How long does it usually take for you to get your rental rented?

I've been posting our rental on Craigslist, militarybyowners and another military site. We have a rental sign in front of the house. Do you have any suggestions on what else we can do to get the place rented?

We were originally thinking of going with a property manager, so we have the area comps. We priced the place in line with what the property manager suggested, plus we're paying for most utilities.

I've never rented before and it's been a long time for DH, so we're not really sure what to expect. Thanks for all your help!

 

[coloradochick]

We looked on Craigslist and also drove around in the area we were looking at

 

[dkvart1]

Took us 2 months and three trips to Florida to find the place we are in now.

 

[aggie9296]

Here (Florida) near a military base, the rental market is flooded because people have not been able to sell or are upside down on their houses. The local military credit union lets you put free ads in their newsletter. Also, there are many online sites to let you do rentals like the military by owner site. Some are also free.

Here, to get rented, you have to drop the price lower than the comps. It may not pay the mortgage, but it's better than sitting empty. Or cutting down the deposit or not requiring 1st 2 months rent up front.

Remember, you have to report rent as income on your taxes, but you can count any money you put in for repairs, mortgage interest, insurance, advertising as business expenses. Keep all your receipts.