When your house has been on the market awhile and it doesn’t sell, it’s tempting to rent it. After all, it would be nice to have money coming in every month and for the home not to be sitting empty.
But renting is more complicated than you may think, and there are some important things to think about.
Top on my list of worries is how the renters will care for your home Time and time again I hear horror stories of friends who rented their properties only to get them back in terrible condition. Even when you rent to nice families, with good incomes, who seem so great when you meet them. I think it has something to do with pride of ownership…when it’s not their home, they just don’t take care of it the same way.
Other good ideas before renting:
Consult with an eviction attorney – What will you do when your renter doesn’t pay one month, either because they won’t or can’t? You should understand the legal challenges of eviction before deciding to rent.
Interview Property Managers – Being a landlord means getting a call at any hour of the day or night regarding maintenance issues. Are you ready and capable of handling it? It also means finding qualified tenants and collecting the rent. Collection calls aren’t fun. What if your tenant told you that they have enough money to buy food for their kids or pay you rent, but not both?? You might want an experienced property manager on your team to help with these situations.
Create a Realistic Budget – Renting brings some money in, but also creates expenses. When deciding on your rental amount, you need to cover more than just the mortgage payment. You should also include property taxes, maintenance expenses (things like repairing or replacing the roof, appliances etc.) and insurance.
Monday, September 26, 2011
Thursday, September 8, 2011
The big question: Chagrin VS Kenston Schools
A question I hear from out-of-town buyers moving to this area is, "Chagrin Falls or Kenston--which has the better schools??"
And when working with local buyers, it seems everyone has a strong opinion...they HAVE to be in Chagrin schools or they insist it's GOT TO BE Kenston.
As a real estate agent, I am not allowed to advise or comments on schools. All I can do is point external & objective resources, let them do their own research and come to their own conclusion.
The Ohio Department of Education recently came out with their Report Card and it's great news for our area...all schools here were rated at least EXCELLENT by the Ohio Department of Education.
Chagrin Falls and Orange were rated Excellent with Distinction, and Kenston and Solon were named Excellent.
I think the really interesting thing is how they scored...Chagrin's index score was 109.2 and Kenston's 107.2! How close is that?!
So my short answer to buyers who ask about schools...We are so fortunate to have so many excellent schools to choose from in our area!
(For more info go to the Ohio Dept of Education website at http://ilrc.ode.state.oh.us/)
And when working with local buyers, it seems everyone has a strong opinion...they HAVE to be in Chagrin schools or they insist it's GOT TO BE Kenston.
As a real estate agent, I am not allowed to advise or comments on schools. All I can do is point external & objective resources, let them do their own research and come to their own conclusion.
The Ohio Department of Education recently came out with their Report Card and it's great news for our area...all schools here were rated at least EXCELLENT by the Ohio Department of Education.
Chagrin Falls and Orange were rated Excellent with Distinction, and Kenston and Solon were named Excellent.
I think the really interesting thing is how they scored...Chagrin's index score was 109.2 and Kenston's 107.2! How close is that?!
So my short answer to buyers who ask about schools...We are so fortunate to have so many excellent schools to choose from in our area!
(For more info go to the Ohio Dept of Education website at http://ilrc.ode.state.oh.us/)
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