Rental Income - A moral Question
July 17, 2007 | Author: Eve Lester | Filed under: Money Matters
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My mom has a house in Jacksonville, even though she lives in Virginia. When she had to move for my step fathers job, they decided to rent it instead of selling it. I know she went through some real estate company, she hates it! They are charging so much for their fee that she isn’t even making enough to pay the mortgage. So, when I saw the opportunity to check outRentals.com I jumped on it, this is what I think she should use if her current contract will let her out.
I would love to get into renting homes. Well, kinda, see, I am too nice, I would let anyone move in if they had the right sob story and horrible credit- and probably get taken advantage of. But if I ever do get to rent a place, I would rather give someone a second chance, then be yet another person that does not let them prove them self. After all, you cant fix bad credit without trying, and without a decent place to live, you cant try.
What do you think you would do, if a young couple wanted to rent your property, but they had very poor credit, yet admitted they had made mistakes? Would you turn them down because of the history? Or give them a chance?
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5 people have left comments
I would definitely let them rent the house because any sob story gets me. Hell, I’ve even let my past landlord’s sob stories get me. I really think you would have to weigh the persons story too, some people you can tell that their sob story is just a way to get what they want.
I noticed you have rentals.com sponsoring your entry, how do you do that? I’m looking into how to make money blogging, there is going to be a conference in Novemeber, PostieCon. Have you heard anything about that?
So your as soft hearted as me huh? :-) I get my sponsors mainly through Pay Per Post- they are the ones hosting the ‘postie con’ You just have to have a blog that is at least 90 days old with regular postings, then you can sign up and you get to see a list of companies that want to sponsor a post- use this link to sign up if you do- LOL, that way we both make money! http://tinyurl.com/2b7ema
I think it depends on whether you need the income from the rental or not.
If you don’t need the rental money, then rent to whoever you want to…but if you do need the money from the rental to pay the mortgage on the rental, or worse, to pay your own mortgage, then you better rent to someone who you think will pay the rent on time.
Giving someone else a second chance is great - but not if it means that you won’t be able to pay your own bills, and will face forclosure, or have to go without neccessities such as food and heat if your renters don’t pay the rent on time.
Great points! Hence why I should never ever get into renting homes, I have such a hard time saying no- I would be broke in no time! :-)
It is hard to say no, but I think it’s a lot easier when you know that saying yes could hurt your family.