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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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