# Renting questions



## Crunch (Feb 10, 2013)

Hello all, read from here everyday, but first posting. Here is my question. I have 75 acres and a small 3 bedroom 1 bath house. I am thinking of renting it to someone who might want to have a place in the country, but either cannot afford it or don't want to purchase property themselves. I live in Europe and have no intention of living in the house.

The house needs some work, but is livable now. 

Price would be quite reasonable, but renter would be responsible for everything as a trade off for reduced monthly rent. Ie well pump breaks renter pays to fix it.

I would include limitations with what renter could do or could not do with the land..ie clear cut or log it, use it as a junkyard, hazardous waste disposal sits, etc.. Animals and cutting for firewood is okay.

What am I not thinking of?
Risks or concerns?
Legal issues?


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## Lazy J (Jan 2, 2008)

If you're in Europe I suggest you either hire a real estate management company or bulldoze the house.


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## MikeC (Mar 29, 2012)

Why not just sell it?


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## Guest (Jan 5, 2015)

I have had problems with renters even when I lived in the area . I wouldn't consider renting in your situation . It would be a miracle if renters did right by you .


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## TnAndy (Sep 15, 2005)

Crunch said:


> *I would include limitations* with what renter could do or could not do with the land..ie clear cut or log it, use it as a junkyard, hazardous waste disposal sits, etc..



*Which they will ignore.* 

You "might" luck up on a good renter, but the odds are you'll get a mess like a meth lab or a dozen other problems....especially if they know you are distant.

Sell it. Invest the money in almost anything else. 

I had two NICE, NEW rentals I built 1/2 mile down the road from me and I could write a book on the problems. I sold them because I finally decided the rental income was going to do me much good while I was in prison for killing a renter.


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## Lilith (Dec 29, 2012)

I'm a renter, one of the VERY few you would be able to find for a property like this. I'm not a perfect renter, but I'm better than most. I can't buy a home for at least another 5 years. It takes 7 years for a bad credit report to fall off your record, and another 5 years to build good credit. My bad credit is no fault of my own other than I fell for the wrong guy. He dumped a baby he has never helped raised and over $500K worth of debt in my lap 11 years ago. No bank will touch me right now. They don't care that I paid off over $500k in 4 years with a new baby on my own. My husband is disabled with next to no income, so he can't pay for a house no matter what his credit looks like. So, renting it is. I would love to find something like this in my area, but I make do with the decent rental situation I have right now. 
IF your 75 acres is mostly farm ground, your best bet is to rent it out as farm ground. rent to a farmer that can pay a yearly lease a year in advance and hire a contractor to winterize the house and board it up. When you do get ready to sell it or move back, you will have major mouse infestations and likely have to tear it down anyways, so that is an option too.
If your farm is located in southern Virginia, I know the perfect renters for you! My best friend makes me sick with how easy she makes it look to raise two young kids, have a great garden, and the perfectly clean home strait out of a magazine all the time. The only thing keeping her from being a "proper southern lady" in all aspects is that she wears blue jeans to tea, and her hair is always out of place and is as untameable as her spirit.


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## andrew3d (Jun 23, 2002)

One of your terms is they fix whatever breaks. So who monitors them to make sure the repairs are done with quality workmanship and parts? I've rented properties for more than 20 years. It only pays when you lease to people with good credit scores and good rental history. Even then, they can lose their job or become ill and leave you unpaid and holding the bag. If you lived nearby and could keep an eye out on your property, it could work. Since you are in Europe, it will require you to find an honest property manager. It depends on if you can find one for your rural area. Is there a reason you do not want to sell as that does seem the wisest decision for now?


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## idigbeets (Sep 3, 2011)

Where is this land located? Is it all tillable or pasture use? I'd hire a real estate mgmt company to handle it for you... much easier especially from Europe.


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## CraterCove (Jan 24, 2011)

Hire someone trustworthy to manage the property. If you are an absentee landlord especially of a place in a condition that might attract either the industrious type or the nefarious type. You are setting yourself up for someone to rape your land, destroy your house and get it confiscated from you because it was used as a Meth lab or some such illegal activity.


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## Crunch (Feb 10, 2013)

Everyone, thank you for your insightfulness. I was thinking that there may be someone like Lilith described, but in all likelihood it wouldn't be. I will likely talk with the county fire department and see if they would be interested in using the house as a training event and if not level it. I am not interested in selling as land free and clear is worth more to me than money sitting in a bank.
Again thanks to all.


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