I think I'm going to have a panick attack!!!!

[simka2]

Update: well we just listed it ourselves on craigslist. Here's hopeing we get some good leads and an amazing tenant!!!

 

Send good thoughts ;)! So, as many of you know we just moved from the Kansas City area to the Houston area.

 

I had contacted a management company to list the house for lease before we left. They came thru...said I would need to paint the main living area, make sure there is neutral paint everywhere else, strech some carpets, paint the base boards, and shampoo the carpets. All of which we did (exept the main living painter, because it's their guy and he hasn't done it yet) They wouldn't list till the house was empty.

 

So we moved eveything over a week ago, and turned over the keys. Today, I recieved a phone call saying they won't list it until I ....replace all the carpet in the basement, repaint all the bedrooms and doors, have it cleaned professionaly (again)!

 

So, I am sitting here wondering if I should just lease it myself...or list it with an agent for sale. Uggggggghhhhh....I'm really frustrated right now!!!! I'm mad. There aren't a lot of other companies I can pick from to manage it.

 

Thanks for the vent!

Edited December 8, 2010 by simka2

[secular_mom]

I would see about using a different company first. I know you said there aren't a lot to choose from, but call around and ask the ones that you can choose from and find out.

[bookfiend]

Right and then a poorly screened renter ruins your brand new carpet. Can you rent it yourself and hire a local friend to screen the applicants, show the house and go in once a month to change filters and check things out?

[Tammyla]

:grouphug: That sounds like pretty high cost standards for a lease.

[....]

Hi...I have a rental house in Missouri and we live in Texas also. I manage the house myself from here. I actually fired our management company after 2 months. Some management companies are awful and they just want so much money to do nothing. I put the house on craigslist myself and I flat-out told the guy (our tenant) that we're in Texas, so he's going to have to manage some stuff on his own. I lowered his rent a little and we let him deduct any expenses he ends up having for the house - for example, part of our tree fell in a storm this fall and he cleaned it up - so we deducted 200 bucks from his rent that month. This guy always pays really early - almost a month in advance. We've had a great relationship with our tenant and are going to be sad when he moves on in 2011 (he's going to build a house).

 

Anyway, for SOME tenants, this arrangement works out really well. Our guy's really nice, he works for a home construction company and he owns a house also (in another city). I think he doesn't mind being left alone and as long as he's paying his rent...I don't mind leaving him alone.

 

OK, so also...we were very - ahem - selective in our tenant screening. Under Missouri law, if you have less than 3 rental properties...you could be picky without repercussions. You can set your standards high. There are lots of people renting out there right now... In fact, after our tenant moves out in 2011, one of my sisters is going to lease the house (and that will be long-term).

 

If you can find yourself a situation like this, that would be the best thing for you. You could also try to find another management company. Do any of your friends have relatives/friends who could look after the house for you? Do you know anyone who wants to rent your house?

 

Unfortunately for you, you're going to end up driving up there to get yourself a tenant, sign a lease, make sure everything is OK, etc. :glare: Bummer. I hope it all works out for you.

 

Also, remember to update your insurance on the property...and it's considered depreciating property (as a rental) to the IRS, so you should be able to take a deduction on it when you do your taxes. I'm pretty sure that monthly management fees were tax deductible too...:glare:

[simka2]

I would see about using a different company first. I know you said there aren't a lot to choose from, but call around and ask the ones that you can choose from and find out.

 

I've put a call into the one other I could find. We will see. I have a couple friends who are connected to some amazing realtors...so we may just put it up.

 

"Right and then a poorly screened renter ruins your brand new carpet. Can you rent it yourself and hire a local friend to screen the applicants, show the house and go in once a month to change filters and check things out?"

 

Exactly! The house is in AMAZING condition. There we're 3 small stains in the basement, but very few houses in the area even have finished basements. Ugggghhh...

 

"That sounds like pretty high cost standards for a lease." No kidding!!! Down in Houston, we looked at houses that had roaches, smelled horrible. Even the one we eventually got I had to repaint to bedrooms and a bathroom...because they were PINK!!!!

 

I'm sitting here with pics of the house...wondering if I should just list it!

[....]

Oh, and don't have a panic attack. Everything's going to be OK. We rent the house we're living in now and we're great tenants. We fixed a bunch of problems in the house this year and have never been late on our rent.

[Catwoman]

 

So we moved eveything over a week ago, and turned over the keys. Today, I recieved a phone call saying they won't list it until I ....replace all the carpet in the basement, repaint all the bedrooms and doors, have it cleaned professionaly (again)!

 

Maybe the agent at the management company wants to lease your house for his own family, but doesn't like the colors. :glare:

 

Cat

[simka2]

I would see about using a different company first. I know you said there aren't a lot to choose from, but call around and ask the ones that you can choose from and find out.

 

Oh, and don't have a panic attack. Everything's going to be OK. We rent the house we're living in now and we're great tenants. We fixed a bunch of problems in the house this year and have never been late on our rent.

 

That's how we are with our rental here in texas. I've painted, cleaned and done some minor repairs. Yes the carpets need to be stretched, but it wasn't a deal breaker for me.

 

I pm'ed you with some more ?'s, but I'm hopeful that we can do this!