I am thinking of renting my property out, can you help?

The key is find an excellent full time property manager to handle it all. A full time experienced PM is worth their weight in gold. My clients find I save them money, time, liability, and worry all of which exponentially justifies the nominal monthly fee. Contact me if you would like to discuss your particular situation.

For years, I was a landlord. I had several investment properties. I soured on the idea after my first eviction. My advice is never compromise on a credit check. Everyone with bad credit has a sob story. The first time that I took pity on a single Mom with a good job was the first time that I had to evict someone.

All of the advise is fairly good. For you personally there is a "qualitative" value on being a landlord. I have some clients who can not be landlords because they would be up at night worrying. i have other clients who should not have been landlords because they can not see maintenance as a landlord cost. Overall being a landlord is sound over time. Expense is partially tied to selecting the right tenant not the first application. Have a criminal background and not just a credit check. Work with a realtor who understands and supports your needs and requirements. Many agents do not like to sow rentals because of the low return on their time - others are new and only get these leads. I have personal rentals and a number of regular landlord clients who return again and again. Remember who you work with is a reflection on you as a landlord and makes an impression as well. Ask to see all the comparable listings so you see what a prospective tenant sees when comparing your property and asking price. Let me know if I can help further.

Are you going to manage the rental, or do you want a property manager to do it for you. Please look at the taxes as well and decide what would be best for you. After that, please call me and we can talk about renting your property, but first consider what is best for you, and then hire a realtor to rent your property, and decide if you want long term and to manage it yourself, or let someone else receive the calls and handle the problems with your approval.

You need to hire a realtor to help you rent your property. Based on the responses so far, I would not reccommend a lease longer than a year. Then you can renew for another year when it expires. This will help you keep from having to go through the eviction process every 3 months. The realtor can help you run a credit check on the your tenants too.

Not sure if you selected a realtor but I am very familiar with Falls Church. I have lived in Falls Church since I was in elementary school and I am very familiar with the area. I have been in the real estate business for the past 12 years. I also have my own personal rentals. Do you want the agent you select to manage the property or do you plan to self manage it? Please feel free to contact me with any questions Thank you

I understand. When you get in a situation like this I recommend getting the advise of a real estate attorney. As an alternative to paying any legal fees you may want to offer them some money to get out of your place. The banks call it "cash for keys" when they are trying to get residents out of bank owned properties. It will cost less than legal fees and allow you to get some good tenants into the property right away. The best way to avoid this problem in the future is to vet the rental application very carefully with a focus on the credit reports. Most realtors know what to look for.

We have 2 renals. One family is great. Takes care of the house and pays on time. In the end we make a little profit. The other is not so great. The family never pays on time. They complain about every little thing and get eviction notices on average once every 3 months. They always cough up the rent right before the eviction period expires but still it's always a fight and has caused us a lot of work and stress. We never know if we're going to get the rent or not which means we have to save up to be 100% sure we can cover the payment. It could go either way.

We usually recommend leases that run between 12 & 36 months. If a tenant wants to stay after the initial period, we negotiate a new lease.

I represent a lot of landlords and I rent out a number of my own properties. I'll be glad to help you. I work out of Falls Church.

Contact a Realtor who specializes in Falls Church Rentals.