The log house which my wife wound up with after her mother died - and into which we have been pouring money, lo, these many months - is now ready to sell or rent. Given the market, it is most likely to be rented. I have only rented two unfurnished apartments in my life and that was years ago.
The first was totally bare...no stove, no fridge, no drapes, no nothing.
The second had drapes - rather nice ones - and a stove but no fridge.
Having no experience as either a renter or landlord, I would appreciate knowing what you would expect if you were looking to rent an unfurnished house.
I'd also appreciate knowing if you would expect to do any of these yourself. Change air filters? Buy them? Maintain salt level in water softener? Buy the salt? Cut the grass? What other maintenance or repair?
Is this a year round house or a recreational house? The description to me sounds like a cottage/recreational house. how many people would rent a year?
If I were a renter there is almost no way in hell I would buy my own appliances like a stove/fridge/washer. I'm sure there are a small percentage of renters that would but most would not buy.
If I'm a renter and I'm doing maintenance I'd expect a discount on my rent, me personally I did monthly maintenance on a house I rented and received about 10% off rent. But that was years ago. That included snow shovelling. You'll find with maintenance that some won't mind doing it and others most certainly will mind doing it and all you can do is ask and maybe adjust rent accordingly. And have it stated in a rental agreement/contract. Some people want to rent so they don't have to do maintenance and some people will do maintenance so that the landlord isn't always at the house bothering them at inconvenient times like dinner cutting hedges and lawns.
IMHO, I've always provided my own microwave and drapes but have expected appliances to be provided and maintained and in safe good working orders That way if I move after a year, whihc renters can do frequently, it's an easy move. Dishwashers are an afterthought i think, used as option.
Hope this post helps you a little in some way and good luck man.
The tenant does the basic cleaning. Actual plumbing, carpentry etc would be your problem. Take pictures/video of the property before renting. Give a copy to the tenants. That might help in the future. It's been years since I rented anything also. I can't say what current practice is as far as screening tenants, first, last months rent,security deposits etc. Have you talked to your insurance agent and/or an attorney?
No, but white mini-blinds on all appropriate windows. I'll choose my own drapes.
Must have.
Only if its brand new or part of a built-in custom cabinet. I really don't want someone's used food particles!
Yes, if the space permits.
Yes. Renters don't usually have any big appliances.
Yes, or at least hook-ups.
Add extra $50/mo. for a W/D
Insist the renter change the filters on a regular basis, that you will provide. It will be good for your A/C unit and good for their health and electricity bill. Just leave a case in the closet.
Make sure they have a fire extinguisher in the kitchen (but not over the stove!). Verify the fire extinguisher is charged every year, minimum. Put a clause in the lease that if they have to use it, or notice the gauge low to notify you for an immediate replacement. That will keep your ass covered. Of course, have a lawyer look at/draft your lease papers, I am not a lawyer.
Install smoke detectors in each bedroom, outside each sleeping area, and at least one on each floor if bi-level. Provide smoke detector battery changes and testing on-schedule according to the manufacturers instructions.
Uh-oh. That is not something the average Joe may want to mess with. Maybe you better do that yourself, how often does it need it?
You buy the mower, and throw in the washer & dryer and I will cut the grass.
Most renters are going to expect you to have a plumber on the doorstep within hours if water is a problem. If the A/C or heat breaks, same thing, I want it back working that day or the absolute soonest as possible. Don't be the cheap landlord that takes days to call for estimates, hires low-ball or "questionable" contractors, or delays problems. Remember, you are the business and the renter is your *customer*. If you think it's okay to make them sweat it out for two or three 100° summer days while you wait for the weekend to fix the A/C yourself, you are not a landlord - you'll be a slumlord! Familiarize yourself with 'renters rights', if you fail to perform you could wind up paying way more in the end. A bad landlord is just as bad as a lousy tenant.
Find a renter that will treat the home as if it were his own, and you maintain it with quality parts and labor. When interviewing folks, listen for "I'll plant a shrub here" or "I can build my workshop back here"; indicators of long-term interest.
Where is it? I'm looking for one in the Houston area here pretty soon.
In Houston area, its usually one month for the deposit; then one month up front to move in (or prorated). There are several tenant screening services online that will check credit, criminal records, and for broken leases. I think it costs $50 or so (the prospective renter pays this, non-refundable).
Check the want ads under rental ptoperty and see what similar properties (size, location) include and what the ballpark rent should be. Better yet, see if there's a real estate agent who deals in rental property and get their opinion on how the house should be equipped.
This depends greatly on how you structure the deal, and what market you are trying to rent into. If you are doing lease-option you can rent it the way you might sell it. If the other places on the market include fridges and stoves and other amenities, you probably need to provide them to be competitive.
On the other hand, if you are looking for a tenant that already has those things, they are relocating, or got foreclosed out of their current home, perhaps they already have the stove and fridge...
Not a high priority with me. Some window treatment is good, I have apartments and I provide white blinds... Fabric would not be my first choice, it fades, gets chewed up, and absorbs odors. Plus, it greatly impacts other design choices. I tend to keep all MY design elements more neutral so the tenant can push the rooms to their style without painting.
Probably yes, but compare to the other properties on the market.
Unless it is built-in, no.
See micro-wave...
See Stove...
I lean towards no unless the market demands it. These get beat up and turn into a maintenance hassle. I presume their is a laundry-mat somewhere? In a multi-family I provide a commercial quality unit in a public area.
Yes. Make it easy to tie in.
In a stand-alone house, I would place this responsibility on the tenant. The replacement of filters makes the system work better for them and does not greatly affect how long it lasts for you.
If the water is so hard it will close up pipes and faucets, it might be worth doing, if it is merely for comfort... it is their problem.
If the house is nearby, and easy to cut, you can do it, otherwise, I see this as the difference between renting a house, and renting an apartment. When you rent a house, you assume more of the duties of normal operation.
However, the other side of the coin is that if you do these things, you will have a reason to go inside and 'inspect' the condition of your property on a regular basis. The hassle is that you will need to co-ordinate, or at least advise your tenant about the times and days you plan to visit, and the law usually requires you to give 24 hours notice except in case of emergency.
I would require that any repairs be done by the landlord or his agents. You might get a tenant with the skills and tools to do this, but you will probably get a guy who leaves a more expensive repair than the proper tradesman would have cost in the first place. Besides, you want to know what work is being done.
Play pretend renter and call around to other adverts.
This is all area dependant and dependant on what the competition is doing.
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The log house which my wife wound up with after her mother died - and into which we have been pouring money, lo, these many months - is now ready to sell or rent. Given the market, it is most likely to be rented. I have only rented two unfurnished apartments in my life and that was years ago.
The first was totally bare...no stove, no fridge, no drapes, no nothing.
The second had drapes - rather nice ones - and a stove but no fridge.
Having no experience as either a renter or landlord, I would appreciate knowing what you would expect if you were looking to rent an unfurnished house.
I'd also appreciate knowing if you would expect to do any of these yourself. Change air filters? Buy them? Maintain salt level in water softener? Buy the salt? Cut the grass? What other maintenance or repair?
Good post but I'd want it "spelled out" about landscaping and any long term changes like sheds. I had the landlord from hell but I'll admit I made mistakes too. Good communication and a friendly rapport is so important with long term renters. The care of the yard can become a very continuous issue because the landlord almost always pays for the water.
Your comment about quick (and good) repairs is very important too.
My ex-landlord must have been sued because he was always concerned about lawsuits. After my last renting experience I'd never rent again or become a landlord. My ex-landlord turned me into a homeowner so I guess he deserves my gratitude. Now I'm sitting on a pile of equity. :)
One of my old landlords had a multi-unit house and he provided us with a coin operated washing and dryer. No way would I go to a laudromat so I appreciated having that laundry room provided. Probably one of the reasons I stayed there 6 years.
Kansas landlord here. We typically will equip a house as follows:
Stove, Dishwasher (if there was a place for one) But i have purchased one portable for one of our properties. Washer and dryer hookups only
Air filters come as a gray area to me. It's in the best interest of the equipment to change them regularly, but it's also in the contract that the tenant will take care of regular maintenance items. So far, all my tenants have been good about changing them. As for the whole house waterfilters, i supply the replacement elements, as our area has some real old iron lines and rust is a problem. I figure a couple bucks twice a year help extend the life of the water heaters. No water softeners here, but if there were one, i'd expect them to buy that product needed. Of course mowing is the tenants responsibility. This is not a maintainance provided operation. Here's my paragraph #20 in our contract:
Maintenance and Repair. Lessee will, at his sole expense, keep and maintain the leased premises and appurtenances in good and sanitary condition and repair during the term of this lease and any renewal thereof. In particular, Lessee shall keep the fixtures in the house or on or about the leased premises in good order and repair; keep the furnace clean; keep the electric bills in order; keep the walks free from dirt and debris; and, at his sole expense, shall make all required repairs to the plumbing, range, heating, apparatus, and electric and gas fixtures whenever damage thereto shall have resulted from Lessee?s misuse, waste, or neglect or that of his employee, family, agent, or visitor. Major maintenance and repair of the leased premises, not due to Lessee?s misuse, waste, or neglect or that of his employee, family, agent, or visitor, shall be the responsibility of Lessor or his assigns. Lessee agrees that no signs shall be placed or painting done on or about the leased premises by Lessee or at his direction without the prior written consent of Lessor.
I'd suggest you get _very_ acquainted w/ the laws of the state (I think OH?) regarding rentals.
On the assumption it was/is OH, I did a (very quick) DAGS and found one interesting tidbit right off the bat...
There can be all kinds of ways to get yourself into trouble from State and local requirements you may not know about.
For a house rental that sounds like you've put a fair investment into, if it's in a reasonably good neighborhood I'd consider finding a reputable management agency and let them handle it for me, willingly giving up some of the income to not have to deal w/ the hassles. Unless I were intending to get into the rental business as a major activity I would absolutely not want the nuisance factor of trying to deal w/ a second residence as a rental unless it were, like, the house next door.
(Followup trimmed to ahr; has nothing whatever to do w/ rw group...)
Makes me think of the abuse some lenders do when it comes to escrow. Which is why I waved escrow on my last refinance. Funny thing is, I wasn't charged points and I still got the lowest rate available.
A lot would depend on location, comparable homes, whom you expect to rent to....drapes, washer and dryer for a couple of kids just out of college may be a negative...they would take down the drapes, toss 'em in a box and put up blinds. Fridge...newbie leaves spoiled meat in the fridge and ruins it. Stackable washer/dryer great for starter; hookup for family with assets.
Forget drapes...they are very expensive, if decent, and easy to damage. Install nice blinds...everyone needs window coverings and it can be a major expense if they need to furnish their own. If they are long-term and want drapes, offer to have rods installed. I would not want to buy drapes for a rental home to get windows covered.
What to expect in a rental...fridge, range, (lucky to get washer and dryer). Anyone can bring their own microwave, and I get along fine without a dishwasher. Again, it depends...is this a FAMILY home, with 3 br? Furnish adequately for a family of four or five. One br efficiency, then furnish for someone on the move.
Log home???!!!!
Sure.
Have it delivered?
Hire someone unless renter offers to do it for a discount.
Arrange with local plumber and electrician to be available for emergencies unless you can do it 24/7....if the water heater or furnace go while you are on vacation, etc.
If charging a security deposit and/or cleaning deposit, state in the lease what is required to get it back. Another post in the thread mentioned security deposits, and it can be a bear...Michigan, from personal experience, has very precise requirements about notice to renter that the s.d. will be forfeited, terms for giving notice of same, blah, blah, blah. Have an attorney draw up lease and advise re further plans.
Pouring money into the home? Then sell it. Of course, if it is a high-end rental, and you can screen renters to your satisfaction, then eliminate all who have not remained in previous rental at least two years. My brother lived in the same rental building 65 years; landlord said he wished he could have been his tenant another 65.
I have rented, in my very young days, from some real clowns. Laws are a bit better now. In my last rental, I painted/caulked the paintable parts of the house, repaired badly installed doors, took care of landscaping, etc.
That could be a hassle...landlord over every week at HIS convenience to cut the grass? What if renter sleeps days? I'm thinking of all kinds of reasons not to rent this home :o)
My gut sense, is to leave the place untouched, and negotiate with potential renters. No sense sinking more money into the place. Renters can tell you what they want.
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The first was totally bare...no stove, no fridge, no drapes, no nothing.
The second had drapes - rather nice ones - and a stove but no fridge.
Having no experience as either a renter or landlord, I would appreciate knowing what you would expect if you were looking to rent an unfurnished house.
I'd also appreciate knowing if you would expect to do any of these yourself. Change air filters? Buy them? Maintain salt level in water softener? Buy the salt? Cut the grass? What other maintenance or repair?
I manage my own and have managed for others, single family homes for over 25 years while being a license real estate broker. I used to work with clients (buy, sell, manage, etc... ) but now only for myself. I could answer these questions but won't because unless it's around Houston, Tx., the answers could be different. You really need to see what the competition is doing in your area so you can be competitive. I'd suggest to talk to at least 2 Realtors locally and ask them these questions and let them show you on paper the competition to see what they provide as well as the pricing. I might also suggest to list with a Realtor because they can do a lot of work for you, answer your follow up questions and provide the lease as well. Our lease over the years has gotten so long that it's now15 pages. It's quite comprehensive of course. Of course it's only a piece of paper if you know what I mean. Oh some Realtors can manage your property if you don't feel comfortable doing it but be careful. You really only want experienced managers. Also check what the licensing requirements for others to manage your property are, if you go that route. I could tell you stories about managing property for others but I don't know if it would help you. Besides if you don't go this route, I'm wasting your time.
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