Consumption and Real Estate
Where are people going after they lose their homes?
Question : Where are people going after they lose their homes?
I live in Orange County, Ca but I rent a home out in San Diego, CA. My last tenant left abruptly. I posted my rental on over 5 websites and placed a rent sign in front of my house. I lowered price. It is recently remodeled, has 3 bedroom, 2 baths, large living room, kitchen and large family room. The lot is 13,000 sq ft because I own the hill behind house. I compared other homes in my area and priced it lower then the others and still no takes. Why are people not renting? I fear that if I do not rent I will lose my home and ruin my credit. Please, only people in the business or who have experience the lose of a home.
This is our second house I was trying to hold on for my son. My husband and I own a home in Orange County. But I just do not want to get bad credit if it goes into foreclusure. We just can not afford to pay both mortgages.
san diego kitchen and bath
Best answer:
Answer by Landlord
Rent will be determined by the 3/2 and area, not the size of the yard.
Post in the local paper, many people in that area are not online.
They are either living with relatives or renting. I’ve been a LL since before all this mess started and I’ve notice A LOT of people will try to rent their house out before going into foreclosure. That floods the market with rentals, so rental rates are down(about %5 in my area).
1st, if you are lower than everyone else, then there may just be a shortage of renters in your area. You’ll have to wait it out.
2nd, advertise more. Craigslist, signage, newspaper, etc
3rd, Continue to screen and don’t get desperate. You are just losing rent now. If you don’t screen, you’ll end up with a tenant that doesn’t pay rent for 3 months AND destroys your house.
If you can’t afford the downtime, then you should not be a landlord. Look into selling it well below market value to get rid of it.