I hate my rental house

[Brian]

We're selling ours. Our renter just moved out a week or two ago, and we're trying to decide if we just sell as is or if we drop money on improvements in the hope that we'll make a little more out of it. Given the price range we're in, it's looking like it might not make sense.

[Gman]

What kind of improvements will get you a greater than 100% return on investment? Those would be the only ones worthy of the effort.

[BushMasterBoy]

My lady friend had 14 rent houses in Pueblo. Someone cleared a clogged toilet with a piece of rebar, sewage in the crawlspace. All the others were stripped of copper wire and plumbing. All sold off now, but one. Only real estate I will consider is vacant land. Stock market (DJIA) has lost 2000 points in the last 3 months, my neighborhood crime is going up. I been going around to the neighbors and asking about my stolen motorcycle and they have all responded that kids bikes and other thefts have occurred recently. Suddenly Pueblo West isn't as good as I thought it was.

[rbeau30]

Only real estate I will consider is vacant land. Stock market (DJIA) has lost 2000 points in the last 3 months, my neighborhood crime is going up. I been going around to the neighbors and asking about my stolen motorcycle and they have all responded that kids bikes and other thefts have occurred recently. Suddenly Pueblo West isn't as good as I thought it was.

I'm saving for a spot of recreational land right now. Just about as much as I am putting in PMs every month.

[spqrzilla]

Luckily, my rental just sold.

[nogaroheli]

So if you had a management company taking care of the rental of your property how would a situation like this be handled? Is there any protection through them against renters destroying your house? Are they responsible in any way to prevent it from it from being abused?

We were just deciding whether to rent our house out or not.

[scratchy]

Thank you for talking me out of investing in rental property! I do NOT need that kind of headache.

[Gman]

Got the inspection back for the wife's condo. They're whining about the age of the appliances that come with it. Sorry, but you're not buying a new home. Everything works. They even want a warranty on the entirety of the property, including plumbing, HVAC, appliances for a year.

Not gonna' happen.

[Irving]

So if you had a management company taking care of the rental of your property how would a situation like this be handled? Is there any protection through them against renters destroying your house? Are they responsible in any way to prevent it from it from being abused?

We were just deciding whether to rent our house out or not.

Not really. How would you hold the management company responsible for something they didn't do? However, some management companies help find renters, and you may be able to have some agreement about splitting damages in that situation.

[nogaroheli]

Not really. How would you hold the management company responsible for something they didn't do? However, some management companies help find renters, and you may be able to have some agreement about splitting damages in that situation.

My boss certainly holds me responsible for things people I manage screw up so I was hoping since you hire them to manage it they did more than find renters, cash their checks and take their cut. I'd like to know what kind of agreements people have with management companies. If there was any protection offered that would make the case for a management company much stronger.