tenant worthy risk?
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tenant worthy risk? (by Daniel Calvo [MA]) May 19, 2025 6:40 PM
       tenant worthy risk? (by NE [PA]) May 19, 2025 6:51 PM
       tenant worthy risk? (by Alan [CA]) May 19, 2025 7:08 PM
       tenant worthy risk? (by plenty [MO]) May 19, 2025 7:30 PM
       tenant worthy risk? (by Robert J [CA]) May 19, 2025 7:37 PM
       tenant worthy risk? (by Daniel Calvo [MA]) May 19, 2025 7:37 PM
       tenant worthy risk? (by Daniel Calvo [MA]) May 19, 2025 7:41 PM
       tenant worthy risk? (by NE [PA]) May 19, 2025 7:43 PM
       tenant worthy risk? (by plenty [MO]) May 19, 2025 7:56 PM
       tenant worthy risk? (by Jason [VA]) May 19, 2025 8:05 PM
       tenant worthy risk? (by DC [MA]) May 19, 2025 8:06 PM
       tenant worthy risk? (by MikeA [TX]) May 19, 2025 8:17 PM
       tenant worthy risk? (by Ken [NY]) May 19, 2025 8:25 PM
       tenant worthy risk? (by plenty [MO]) May 19, 2025 8:40 PM
       tenant worthy risk? (by plenty [MO]) May 19, 2025 8:41 PM
       tenant worthy risk? (by 6x6 [TN]) May 19, 2025 9:04 PM
       tenant worthy risk? (by DJ [VA]) May 19, 2025 9:14 PM
       tenant worthy risk? (by DD [ON]) May 19, 2025 10:07 PM
       tenant worthy risk? (by Small potatoes [NY]) May 19, 2025 10:23 PM
       tenant worthy risk? (by Robert,OntarioCanada [ON]) May 19, 2025 10:58 PM
       tenant worthy risk? (by Tim [CA]) May 19, 2025 11:09 PM
       tenant worthy risk? (by mapleaf18 [NY]) May 20, 2025 9:52 AM
       tenant worthy risk? (by plenty [MO]) May 20, 2025 9:53 AM
       tenant worthy risk? (by Suz [CA]) May 22, 2025 12:27 AM
       tenant worthy risk? (by Jim [CA]) May 22, 2025 1:11 AM
       tenant worthy risk? (by 6x6 [TN]) May 22, 2025 10:57 AM

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tenant worthy risk? (by Daniel Calvo [MA]) Posted on: May 19, 2025 6:40 PM
Message:

I am going to be a new landlord by renting out my primary residence of a single family home and using the income to travel. I have potential clients of three women whose verified income is 182,000. The rent is 3800 per month which they can easily afford. However, they have two outstanding mortgages in Texas totaling another 3800 per month. They do not occupy my home for several months and insist that one of those Texas homes is being sold and the other will be settled in a divorce case with one of the tenants receiving half the proceeds. Should I rent to these clients? --24.62.xxx.xxx




tenant worthy risk? (by NE [PA]) Posted on: May 19, 2025 6:51 PM
Message:

Primary residence? Sell it or winterize it. --24.152.xxx.xx




tenant worthy risk? (by Alan [CA]) Posted on: May 19, 2025 7:08 PM
Message:

Cannot comment without knowing more applicant details but how will your property be managed in your absence? --24.4.xx.xx




tenant worthy risk? (by plenty [MO]) Posted on: May 19, 2025 7:30 PM
Message:

Since you had to ask. Sell. Take the money, fold it in half and travel. For me each of these ladies would need to qualify alone. And I suppose they know you'll be traveling? Not good to share that with them --172.59.xxx.xxx




tenant worthy risk? (by Robert J [CA]) Posted on: May 19, 2025 7:37 PM
Message:

I've owned income property for around 48 years. I can run online credit and background checks on my applicants. However here in Los Angeles, I couldn't evict someone for non-payment of rent since 2/1/2020 thru 3/1/2024. Then again after the many fires, from February 2025 thru June or July -- but the City is going to extend tenant protections.

I once rented to a CPA, who turned out also to be an attorney from out of State. He got from the pound a non stop barking dog. I tried to evict but couldn't match his game. So being a contractor/locksmith, and the locks were changed, I went into my rental and took the dog on a walking poop gig. So I asked the do if 'it' wanted to visit his master. So I drove to his law office and dropped it off. Self Help. Got him fired on the third time. --47.155.xx.xxx




tenant worthy risk? (by Daniel Calvo [MA]) Posted on: May 19, 2025 7:37 PM
Message:

I probably should have mentioned that we intend to return to the same property after two years. We are retired and will travel for those two years and then return to the same property. So, selling is not an option

Interesting that you say that ideally, each woman should qualify for the whole nut individually . That is is important to note and good advice. thank you --24.62.xxx.xxx




tenant worthy risk? (by Daniel Calvo [MA]) Posted on: May 19, 2025 7:41 PM
Message:

The property will be managed by my next door neighbor who is also the real estate/ leasing agent for our home --24.62.xxx.xxx




tenant worthy risk? (by NE [PA]) Posted on: May 19, 2025 7:43 PM
Message:

You’re going to return to a smoldering pile of rubble. --24.152.xxx.xx




tenant worthy risk? (by plenty [MO]) Posted on: May 19, 2025 7:56 PM
Message:

At least you have eyes on it. What your you do if one of them moves out? Or two of them moves out. Best to rent single family homes to single families. It would be difficult to deal with move outs while your out of town. Are you renting it furnished? --172.59.xxx.xx




tenant worthy risk? (by Jason [VA]) Posted on: May 19, 2025 8:05 PM
Message:

They make enough for your screening, great. But income is just one little piece of the jigsaw and we can’t see the big picture with just one tiny little puzzle piece. --75.75.xxx.xxx




tenant worthy risk? (by DC [MA]) Posted on: May 19, 2025 8:06 PM
Message:

I am renting it partially furnished according to the needs of the clients. The rest of the furniture will be stored in one 1/2 of the garage and the tenant will have use of the other half. Good point on 'what if one or two move out'?. Two are sisters and they already have family in the same town. That makes it much less likely, but still an important point --24.62.xxx.xxx




tenant worthy risk? (by MikeA [TX]) Posted on: May 19, 2025 8:17 PM
Message:

I've known a lot of people who have rented out their primary residence and come back to it in 1-4 years. I've never met one that considered it successful financially or in any other measure. Rather, they were completely ticked at how torn-up it was when they returned and how poorly the management company stayed on top of it. So, unless you are planning on replacing all the flooring, cabinets, vanities, light fixtures, and most of the doors when you return you should reconsider your plan. --209.205.xxx.xx




tenant worthy risk? (by Ken [NY]) Posted on: May 19, 2025 8:25 PM
Message:

they are not clients,you do not own them a fiduciary duty,they are merely tenants.If you do this hire a professional manager,not the realtor next door who has no idea how to manage property. --38.248.xx.xx




tenant worthy risk? (by plenty [MO]) Posted on: May 19, 2025 8:40 PM
Message:

Drop in and visit where each of them live now. They will not take care of your home like you do. Maybe it's not in great shape now?and if you can't lock them out of the other side of the garage some things may go missing. Is there another option for you? Can you afford to just let it sit empty with utilities on while your traveling. --172.59.xxx.x




tenant worthy risk? (by plenty [MO]) Posted on: May 19, 2025 8:41 PM
Message:

Perhaps consider 3x rent for deposit. And know your state laws in regards to rentals and deposit. My state is fair but others are not and you may not be able to get them out of they don't leave on their own. --172.59.xxx.xxx




tenant worthy risk? (by 6x6 [TN]) Posted on: May 19, 2025 9:04 PM
Message:

I may be wrong, but it doesn't sound like you, or your leasing agent know how to manage rentals. You are also in a very tenant friendly state with lots of crazy laws you will need to follow. Others are giving you good clues as to the problems you most likely will run into. My uneducated suggestion would be to keep reading the suggestions others of more experience are telling you.

If you end up with the wrong tenants and manager, you will not be enjoying your vacation. --73.19.xxx.xx




tenant worthy risk? (by DJ [VA]) Posted on: May 19, 2025 9:14 PM
Message:

Oh, my. So...many...things...

Being a landlord is not a "try it and see how it goes/if I like it" hobby.

Any very EXPERIENCED landlord has trouble finding a good property management company, does not want to have a long-distance rental, does not want to do business in MA, knows how to screen & manage tenants, etc.

I'm sorry to pop your happy bubble, but...do you really have any idea what you are getting into?

As I like to say: just because you own a pair of pliers & know what teeth are, doesn't mean you can advertise & practice as a dentist. Well, you could, but it would not end well for you.

Being a landlord is a job that requires lots of education. Please take a step back & get some Landlord education before making your final decision. This forum and this website are both excellent resources.

Start with studying Federal, State, and local landlord/tenant laws.

Hopefully, 1 or 2 experienced MA landlords will chime in here soon. --72.218.xx.xxx




tenant worthy risk? (by DD [ON]) Posted on: May 19, 2025 10:07 PM
Message:

What will you do if they will not move out when you return? --23.233.xx.xxx




tenant worthy risk? (by Small potatoes [NY]) Posted on: May 19, 2025 10:23 PM
Message:

Ask the MA lls about the difficulty of removing tenants, worse than NY. Try shirt term housing swaps where you match up with other international homeowners. Than at least you are saving on lodging and getting to be in interesting places. --172.59.xxx.xxx




tenant worthy risk? (by Robert,OntarioCanada [ON]) Posted on: May 19, 2025 10:58 PM
Message:

Not living there where can be a illegal Marijuana grow up operation where after they are evicted can easily cost $100,000 dollars plus as all the drywall must be removed along with additional mold. They also could put tenants you did not authorize where it maybe a better option to sell then invest where will have income without the drama. --216.110.xxx.xxx




tenant worthy risk? (by Tim [CA]) Posted on: May 19, 2025 11:09 PM
Message:

How is it that you can't find a family to rent it to? I suspect you're thinking that 3 tenants is better than 1 family, however, as you're learning, it creates other problems. With your plan, you'll gross 100k and net much less. Is it worth jeopardizing the enjoyment of your vacation for maybe 60k net? You're plan to rent to these theree women increases the likelihood of problems. If you pursue this strategy, along with other material, get copies of their bank statements. --73.2.xx.xx




tenant worthy risk? (by mapleaf18 [NY]) Posted on: May 20, 2025 9:52 AM
Message:

Another vote for sell! Market prices are still high and being a landlord is NOT for the faint of heart ESPECIALLY in blue states like Massachusetts. --64.246.xxx.xx




tenant worthy risk? (by plenty [MO]) Posted on: May 20, 2025 9:53 AM
Message:

The concept of rentingl while traveling is good but the excution is full of pit falls especially in a state that is tenant friendly. I'd consider other options but that is me. I like to limit risk and your subject line: Tenant worthy risk? is just want it reads! yes there are risk, you'll have to evaulate if you want to take those risk. I salute you gaining knowledge to make that decision. We can all make better decision once we ask those hard questions and find out the answers. Do you homework and then start looking for a tenant. Even letting it sit empty requires some risk and expense. Weighting all your options is a good plan. --172.59.xxx.xx




tenant worthy risk? (by Suz [CA]) Posted on: May 22, 2025 12:27 AM
Message:

No way I’d rent to three separate adults again. Did that once, they ended up fighting with each and trying to get me to evict the other. Pick one to be your tenant, add the others as occupants. What a nightmare that was for me --174.134.xxx.xx




tenant worthy risk? (by Jim [CA]) Posted on: May 22, 2025 1:11 AM
Message:

Select somebody else. Too many variables. --99.23.xxx.x




tenant worthy risk? (by 6x6 [TN]) Posted on: May 22, 2025 10:57 AM
Message:

What have you decided to do? --73.19.xxx.xx



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