Call me a landlord again.....

[gimmethesimplelife]

It looks like after a period of about 2.5 years, we have found a tenant we are willing to take a chance with to rent out the guesthouse behind our house. I hope this works out. The money would sure come in handy, can't argue that, and I've felt a little guilty since what we are asking for rent ($400) is very cheap for Phoenix and not having the unit on the market deprives someone needy the chance to get their economic act together. It looks as if on 2/22 we have someone moving in though. Hope it works out! Rob

[Yppej]

Good luck.

[rosarugosa]

Hey Rob, I hope it works out and I like the new picture.

[Teacher Terry]

That’s great news

[Tenngal]

Having someone who takes care of the place and might even be willing to do some chores around the place would be good?

[bae]

"Therefore, the means of the extravagant rentier diminish daily in inverse proportion to the growing possibilities and temptations of pleasure. He must, therefore, either consume his capital himself, and in so doing bring about his own ruin, or become an industrial capitalist..." - Some Dead White Guy

[Lainey]

Rob,
I'll be curious about your experience. I've mentioned that I have a relative living in a small house in central Phx which we'll turn into a regular rental after he's gone. He's in his early 70s and a long-time smoker, so not sure how long he'll be there. I've been checking out Zillow.com for houses in 85006 and 85008 and you can tell the investors have been there in the last few years. Sales prices are $225,000+ for a small house they may have painted and done basic repairs to, and sometimes not even that much. No landscaping.
I'm not interested in gouging someone but I want to also have a good tenant, so actually picking a good tenant when the time comes is going to be the tricky part for me.

[Tybee]

I hope it works out for you, Rob. Providing a lower than market rent is a public service.

[ToomuchStuff]

I hope it works out for you, Rob. Providing a lower than market rent is a public service.

Sounds more like a dis-service, as the rent should be really high, to make them want to move to some human rights country.