I need help on some renting problems....

[huggins05]

Ok.. My husband and I bought a house about two years ago,my in-laws co signed for us. Both of them.
My husband is now in the Military,so we have had to move. We are talking about weather we should Rent it out or try and Sale it. I think we have decided to Rent it out. But we aren't agreeing on some things. Since we are here and they are there they kinda have taken over. I mean they are makeing the payment right now but they don't seem to be makeing smart choices.
1. They want to rent it to there other son and daughter in law.. who are complete slobs...

2. we have 3 people who are willing to move in next month... and they want us to give the brother first choice weather they want it or not. I mean I have 3 people who DO want it... I just need to pick one.. and they want me to wait a couple days to see if the brother wants it.

3 they told me to tell everyone it was for rent .. so i did I posted it online on two websites ... now they are saying its not ready to rent and the wanna redo the flooring and I just lived there like 5 months ago I know the flooring is fine. And they are upset because I have other people asking about it.


WHAT DO IT DO...
The Mortgage company doesn't even know we have moved out or they we want to rent... What should I do.

[jdh1975]

as far as rental goes, i would suggest using a letting agent if you have never let a property before, i use belvoir lettings(look them on google for a branch in your area), they charge a small percentage of your rental income for full property management and are very good( my rental income is �425 per month, their fee is �50 and they can find you a tenant in a matter of days too!!!
dont go overboard with new flooring etc because it may not even impress the potential tenant, as long as there are no issues with the current flooring.
Your mortgage company will need to know that you are letting the property out and will charge you an annual fee for the privelige, my lender is alliance and leicester and they charge �95 per annum, you will need landlords liability insurance too, get a comprehensive cover which would include legal cover(if any issues with eviction should arise) my insurance policy costs around �140 per year(available through belvoir), you will also need a gas and electrical safety check before a tenant moves in, this will cost roughly �100.
hope this helps!!!

[cassa333]

If you are not happy renting to family or even someone you know then don't.

To save any hassle put it into the hands of an agent to find the tenant but let the people who you would like to rent it to know to apply through them.

Then let the other family member look ater it.

That way you can say you don't want them having the hassle if family rent and muck things up.

Either that or get an independant letting agent for full managment. It will cost more but might be better in the long run.

[bednobs]

your turn of phrase suggests you are in the US?