Relocating to clayton/knightdale/garner (Raleigh: apartment, renters, HOA)

[fatboyrider]

I'm hoping to get some helpful feed back here. My husband and I are planning to buy a house and rent it out in Garner, Knightdale or Clayton.

What is the rental market like in these areas?

We do not want any HOA properties.

Any help would be greaatly appreciated!

[MasonDixonDweller]

We just moved to Clayton in October of last year. We love it but may have to move back to the DC area for my hubby's job (crazy, I know!). Anyway, Garner and Knightdale have a more urban-ish feel while Clayton is more suburban/rural. All 3 are beautiful areas with plenty of rental townhomes and SFHs. I would assume you can get a decent 3bd, 2 ba rental for anywhere from $900-$2000, depending on where the property is and what type of condition and amenities. There are plenty of non-HOA homes for rent in the area. Most will be older but you'll have plenty to choose from. There are tons of renters in the Raleigh area right now as so many folks are relocating here. Just wish the number of executive level jobs would increase. Unless you 'know someone" or have very specific skills, it can be tough finding work down here. There are more people relocating than there are "good" jobs. Good luck! You'll love the area, though! People are very friendly!

[saturnfan]

Originally Posted by fatboyrider

I'm hoping to get some helpful feed back here. My husband and I are planning to buy a house and rent it out in Garner, Knightdale or Clayton.

What is the rental market like in these areas?

We do not want any HOA properties.

Any help would be greaatly appreciated!

Being a landlord's not for everyone.

You can't even imagine the damage a bad tenant can do before you get them evicted. My father-in-law was an apartment super and I helped him out.

A co-worker used a major rental agency and wound up with $15K damage plus legal fees.
Unless you can do most maintenance yourself, being a small landlord is not as great as many folks think.

Leave it to the pros who have staff and contractors on hand to take care of the properties.

[fatboyrider]

Thanks for the input, saturnFan! We'll definitely keep this in mind and give it some careful thought and investigation.