Reply to Sell or rent out

Forum Index » Real Estate

Reply to "Sell or rent out - DC row house "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Sell.  You do NOT want to be a landlord in DC, especially if you are living abroad.  You would have to hire a property management company to deal with all the maintenance hassles---so that will cost you.  You cannot refuse to rent to Section 8 so you could be subject to being part of that regulatory regime and run the risk of having your property trashed.  It is impossible to evict a tenant for anything other than non-payment of rent.  So tenants having their rent paid by government vouchers can trash your property and you have no recourse.  And unless you are planning to come back and live in the property, if you rent it and then want to sell it, you have to (a) legally offer the tenant the right to buy it, which can tie you up for months and (b) have to show it for sale with the tenant in it, which means the property will show poorly.   [/quote]

If she is moving back she can easily evict the tenant, she will be occupying the place, in fact she can rent it with that in mind and seek a tenant for specific timeframe, this isn't illegal and is not uncommon.  She has to disclose this beforehand that extending the lease is not guaranteed. As far as section 8 is concerned, I am not familiar with the area to know probability of section 8 outbidding regular tenants and jumping ahead of the line if there is strong demand for rentals and it's well priced.  From what I hear section 8 is specifically sought out by some landlords and especially multifamily building owners to get higher than market rate.  If she doesn't insist on getting more than what market pays then it will be regular tenants.

Her challenge would be to deal with a scary neighbor from what she describes.  This is a far bigger problem because it makes it undesirable for her to live there too and maybe more reluctant to move back.  Otherwise she needs a maintenance company and has to make numbers work to see if it makes financial sense.  She can't manage property from overseas. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics