is it crazy to think about renting a mobile home out?
Manufactured Homes September 10th, 2010that you still owe money on? husband and I need to move now. mobile home-bought for 35k-owe 23k still on it. owe 16k on land. I know the renters cannot destroy the land BUT they can the house.
Is this a crazy idea to rent it out for 900 a month?(300 a room) plus bills?
Sorry, I did not mean to post this twice.
September 10th, 2010 at 3:34 pm
you may not legally have a right to rent out something you don`t own free & clear check first with your bank, or if it`s a land contract with a person ,get written concent first and in person. Don`t accept a Ok over the phone.
if you don`t have the exprience of being a landlord than you should do some research.
September 10th, 2010 at 3:34 pm
If you need money like tat, i suggest renting it out for about 1k and having a yard sale.
September 10th, 2010 at 3:34 pm
I’m unsure what the going rent is in your area for a mobile home– but $900 sounds just a little high to me. Check around by looking in the want-ads under mobile homes and see if you see any comparable prices. I wouldn’t be too terribly worried about renting, but make extremely sure that you check previous landlord, personal, and job references VERY throughouly, and meet with the people to get a ‘feel’ for them. Make sure any lease you offer is also very detailed, explaining what they can and cannot do to your home– such as painting, wallpapering (even decorative borders– some are self-adhesive and can really tear up the wall upon removal). It may be difficult to find someone who meets all of your criteria, but if its worth it to you, you will eventually.
September 10th, 2010 at 3:34 pm
You need to really screen your tenants. By screen I mean national background checks, credit checks, up front deposits. Otherwise you have no insurance against the tenant lighting a fire on the floor of your home. Don’t underprice yourself. ONce a renter always a renter so they will pay a decent price and feel better about paying it. YOu may be better off selling this. Do you really want to spend your nights weekends and holidays being a landlord? What if you take a vacation to Florida or somthing and they call your cell with some problem like a plumbing leak? Your vacation is spoiled! Sell it and pay off the two debts.
September 10th, 2010 at 3:34 pm
its no more crazy than renting a regular house, you never know what renters will do, be sure to get refrences and background checks, and put in the lease agreement that any true destuction of property, besides normal wear and tear, they will be held responsible for