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Reply to "Sell or Rent out?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Sell. I have a home I have rented out like this for the last decade. It’s in a great school district and wonderful neighborhood. I only rent to people with decent credit, but the last tenant just trashed the place. The husband had anger issues and literally punched a dent in a steel door, holes in the walls, broke plumbing by yanking on it, etc. I kept most of their security deposit but it took me three years to get them out. I knew they were breaking their lease but they paid so there was very little I could do. Just be aware that this is a risk. Renting is not passive income. Tenant rights are in a major upswing in the DMV.[/quote] Where in DMV? It doesn't take 3 yrs to evict in VA.[/quote] Doesn’t matter how long it takes. Fact is the tenant could do 10k+ in damages easily and you get to keep the $3-4k deposit only. Then once tenants leave, it will take you 1-2 months to get it ready for sale or rent due to the damages. Not worth the risk. The market is a much safer bet[/quote]
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