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Old 10-18-2010, 08:08 AM   #1
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Default Any landlords in here

I will make this as short and painless as possible. I got a job opportunity to consider in the next couple yrs when I finish college. This opportunity is basically a no brainier but it also includes living accommodations as well as the job. So this is where I am thinking that I may keep the house here that I have now and use it as a rental to keep my real estate portfolio big and growing. Now here is the issue I am kinda running into, I have always been hearing that the "rental discrimination" ads and wonder if there is a way that you can pick and choose who rents your property. First off some information, The house is with in a block of a school so any sexual predators would get the boot and then the house is also less then a half mile from the air force base and so I would like to rent to a military family since usually they are better at maintaining things and having a better track record then other types of people. So Is there a way to pick and choose the people you have rent your property without getting nabbed for "discrimination" it is not the fact that I want to discriminate but facts dont lie and why risk your property more then you have to. Any help or insight would be greatly appreciated
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Old 10-18-2010, 08:22 AM   #2
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Originally Posted by gojo83 View Post
I will make this as short and painless as possible. I got a job opportunity to consider in the next couple yrs when I finish college. This opportunity is basically a no brainier but it also includes living accommodations as well as the job. So this is where I am thinking that I may keep the house here that I have now and use it as a rental to keep my real estate portfolio big and growing. Now here is the issue I am kinda running into, I have always been hearing that the "rental discrimination" ads and wonder if there is a way that you can pick and choose who rents your property. First off some information, The house is with in a block of a school so any sexual predators would get the boot and then the house is also less then a half mile from the air force base and so I would like to rent to a military family since usually they are better at maintaining things and having a better track record then other types of people. So Is there a way to pick and choose the people you have rent your property without getting nabbed for "discrimination" it is not the fact that I want to discriminate but facts dont lie and why risk your property more then you have to. Any help or insight would be greatly appreciated

You have to check into the local laws (Landlord Vs Tenant) they vary state to state county to county.

You shouldn't have to worry about sexual predators, as they would have already been restricted on how close to schools they can live.

Basically you need references, Security deposits, First and Last months rent !

But again check local laws.
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Old 10-18-2010, 05:01 PM   #3
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All that really means is you cant ask for certain types of people in your classified ad,,,,,, you can rent to whomever is most " qualified " in YOUR opinion .

2 bed home avail to rent 1,000/mo tennant pays all ulilities.

Period !!!!
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Old 10-18-2010, 06:39 PM   #4
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All that really means is you cant ask for certain types of people in your classified ad,,,,,, you can rent to whomever is most " qualified " in YOUR opinion .

2 bed home avail to rent 1,000/mo tennant pays all ulilities.

Period !!!!
holy crap thats expensive my rental house is 750 a month utilites included and its 3 bd room 1500sq ft
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Old 10-18-2010, 09:21 PM   #5
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You can't openly discriminate. But you can certainly rent to whomever you choose.
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Old 10-19-2010, 09:24 AM   #6
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holy crap thats expensive my rental house is 750 a month utilites included and its 3 bd room 1500sq ft
Wow,,,, I get that for one of my 2 bedroom 2 bath apts.

It is Chicago though
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Old 10-19-2010, 02:09 PM   #7
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oh see My property is located in a very rural area and is pretty secluded ive always made out well on what i ask for it
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Old 10-19-2010, 04:20 PM   #8
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The big deal is here.... Know your Renter. It isn't who you rent to thats going to be your problem. It who you have to remove if they don't pay. OR wreck the house in the process of leaving regardless of the circumstances. Credit references, First/Last months rent and Security deposit help weed out some liabilities. It isn't an exact science, alot of people get burned. Some big questions to yourself should be, whats it worth, what do I owe yet, can I sell it and get out from under it vs renting. Rental housing, especially in your area is not a good investment by any means. And values there are still crashing. If I could dump it liability free, I would. Realty=Sound Investment/Good for a Portfolio went the window. Thank the Big Bankers who made shambles out of bundling and reselling mortgages. Whats happened over the last couple years isn't going to turn around or rebound. Real property is a fools game of people in denial. There are way better ways to invest funds. If you can't buy it for cash and see a equitable return in the present, don't invest your time and bother. Things are still sliding and going to go from bad to worse. The glut of empty housing has bigger institutions even stopping foreclosures. They are trying to put a band-aid on what most sound financial advisers see as disaster.
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Old 10-19-2010, 10:15 PM   #9
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my property is going to cost me more money after i move to missourri as i will have to pay my uncle to maintain it for me i mow the grass and i will fix any MAJOR issues with the house that arise but so my profit is not that great plus sensse utilites are included in rent if they run the blls way up it cutss my profit i am considering selling it as profit has fallen greatly
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