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we rented to "outer circle" friends , people we knew years ago. thru friends who knew that these people were moving back.
they were moving back to CLT and are dream renters, self professed anal people.
they also wanted to know if they could plant , etc.
we would as a last resort have advertised thru the avenues you mentioned but just thru
putting this out to our friends were able to work it out alone.
how about asking your own neighbors if they know of anyone renting out their house?
how about finding houses that have sat on the market for a while?
do you know any realtors that you could ask?
our realtor has been our dear friend for 20 years and he found us our renters.
although this would be time consuming you could drive the neighborhoods of interest, sometimes people just put a sign in the yard.
once your friends decide what their plan is ,I will be glad to ask our old neighbors
if they know of anybody in the neighborhood looking to rent out their house.
Thank you so much for taking the time to post this info! I just had a feeling you had put the word out through friends and associates, b/c that really is how one finds the best folks for any given property - someone else recommends the property to the renters or the renters to the landord.
In fact, I have always heard that the best way to sell your house is through your neighbors and friends, and I have found that to be true in my own situation two times! Who knows better what we all prefer than our friends?
Really appreciate the ideas. I will definitely let you know if we need some help w/ finding our friends a great property to rent - like your current renters - they would be a landlord's dream renters.
Ani we have rented 4 bedroom/3 bath/deck/fenced in a desirable neighborhood (Union County) and it was $1900 a month. There was nothing we would have even considered under $1700.
A friend of mine rents a nice home in Plaza Midwood 2 bedroom/2 bath/office/deck/no fence for $1200 a month but has some shady neighbors. His rent was $1400 last year but they lowered it this year cuz of the economy.
Location: The place where the road & the sky collide
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Originally Posted by anifani821
Thank you so much!!! That is exactly the type of info I was hoping to find! I knew someone on the forum must have either done this, had a friend or relative who had . . . and would have some idea about the going rate for rent or lease $$$.
That sounds like the type of thing they would be interested in. When my hubby suggested it - I thought - DREAM RENTERS - what homeowner would not love to have a mature couple in their home? And I intuitively felt that with folks perhaps leaving CLT and moving elsewhere for a job, there HAD to be lovely homes available (wh/ in the past would NEVER have been available for rent).
These would be the type of renters who, at their own expense, would plants flowers, take care of the landscaping, and keep the home immaculate.
Our friends were a bit skeptical, b/c they just couldn't believe they could find a home that would be the same thing they would actually BUY. But I just had a feeling they could.
Really appreciate your sharing the info. Now, to see where they want to go with things at this point . . .
Oh - did you advertise in the newspaper, Craig's list or just word of mouth amongst your friends and neighbors? Just wondered how you found good renters . . . cause I am wondering how to connect w/ the right potential landlord . . .
Ani, if you can find them the right place for the right money, that seems like a good idea, but if it was me, I'd do it short-term & then find a place that I could buy outright or for a very tiny mortgage. It's just more secure.
Ani - use your network here, too. Before we settled on a rental in Waxhaw, I had contact with 3 separate homeowners I met through DMs here on possible leases. Don't underestimate the power of this forum.
There's a few things to consider right now - rental demand is up. Although this seems like it means an uptick in rates, I haven't seen that... yet. However, it does mean that the "better" rentals move pretty quick. You can easily track what's available through carolinahome and craigslist - I used those 2 sources almost exclusively.
Remember, it pays for a homeowner to lease without a realtor because they can save a month's rent... Arranging it privately on a $1,200 rental means they could break even and rent it for $1,100.
As far as financially - renting in a declining market is smart on many levels. The tax break often is offset by the money you have to put into the home for maintenance - less so of course on a newer home. That aside, the $15-20k in rent for the year is highly likely to be offset by the market coming down that much... Depending on your outlook on the economy (mine is it will continue to be bad for a while) it is less of a risk with that 15-20k because you'll make that back buying a home cheaper when you're done renting.
Sophia - thank you for the insight on prices. They would not want to spend over $1600 a month, I am sure. I believe that would be about what you would pay for a $200K mortgage (PITI) so I feel sure they would not want to go any higher.
SOUTHBOUND: Yes, this would give them a chance to see what they think about the area and where they might prefer. They like where we are in S. CLT but after they get here, they could decide they wanted to be in Tega Cay near the water (or in Denver or LKN, for that matter). Plus, until you have been retired for a while and know your expenses, it is hard to do a budget. So they may find that they don't want to spend the money on a house that large - they may decide to downsize more than they are thinking now - or choose a townhouse or condo.
MIKE: You are right - networking can lead to the best info! And hubby is thinking about the things you have mentioned about the money saved on maintenance, taxes and home insurance, as well as the overall uncertainty in market prices. Although we all hope we have reached the bottom, maybe we haven't.
It is just a very uncertain time and hard to know what to do. Plus, they would be essentially paying for a house in cash or have a small mortgage of maybe $50K. So why tie up the money? What if they buy a house, tie up their money and then decide in three years they really would rather have been on the lake? Selling that house may not be so easy at that point - we just don't know. So many factors to consider . . .
You all are great. I really appreciate getting all the perspectives and input. Every time I have asked for advice on this forum, I get such insightful info. It is truly appreciated.
There are several smaller homes in Tega Cay which are renting under $1000 and within walking distance to the Marina and real good fishing! Tega Cay is in SC but only about 5 minutes from the NC border and 15 minutes from Charlotte.
There are several smaller homes in Tega Cay which are renting under $1000 and within walking distance to the Marina and real good fishing! Tega Cay is in SC but only about 5 minutes from the NC border and 15 minutes from Charlotte.
Thanks for the info, FMM! Do you know if these are privately rented or handled by a management company? Are there signs out or are they being advertised somewhere?
Birkdale village is nice because you can rent and restaurants and shops are within walking distance. $1200-1400 a month shoudl get you just about anything you need. Even if someone is trying to ask for more in this market you should be able to talk them down.
Birkdale village is nice because you can rent and restaurants and shops are within walking distance. $1200-1400 a month shoudl get you just about anything you need. Even if someone is trying to ask for more in this market you should be able to talk them down.
I believe Birkdale is in Huntersville, right? I do know a lot of folks who have said they thought it would be a nice area for retirees, but my friends are thinking South Charlotte, and probably somewhere that they can get to CMC Pineville fairly easily.
Birkdale Village is an apartment complex so it is rental by design. There are homes for rent in Huntersville all around there.
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How about Tega Cay
