You aren't going to want to hear this, but you'll save yourself a lot of grief if you put it up for sale. Our old house sounds much like yours - not a great location, but big yard and lots of charm. It needed repairs too. We tried being landlords - what a nightmare! We screened them, checked references, employers, bank accounts - they sounded and acted wonderful. Once they got in the house, they ruined the insides, and stopped paying rent. It took forever to get them out, and we wound up spending even more to repair the house, then spent almost a year paying on two mortgages until we sold it to a couple who saw beyond the problems to its charm. I could have saved myself a lot of time and money if I had just put it up for sale in the first place.
Hi all! We have bought a new house and we will be renting or renting to own or other house. I am going to talk with a lawyer when I actually do put the house up for rent/rent to own. Do any of you have any advice you could give me on which route is the better to go re: renting, renting to own. Our house is not in a high demand area, but it is a 3 to 4 bedroom home with a privacy fence, porch, mud room, built in hutch, book shelves, fireplace but it is old and the utilities are horrendous! (one reason we are moving besides the location.) When you rent to own is the landlord still responsible for maintenance? I am afraid once prospective tenants find out the utility bills they won't want to rent. Plus, the home needs a roof, windows and insulation. Any advice?