Cruising Sailors Forum Archive

We rented our house when we took off for a year.

Hi Jud, It was a mixed experience for us. We handled the renting before we left and my folks, who lived nearby, took care of collecting the rent, paying the bills and hiring out the minor repairs. The couple who originally said that they wanted our house for the year backed out at the last minute, literally. Fortunately there was another couple here in town who wanted it for 6 months (actually turned into 7) while they were building a new home about 2 miles away. The 7 months rent covered our taxes, insurance, and mortgage but little else. They were excellent tenants, paid the rent on time, had few complaints and left the house in good shape. The anxiety of renting the house that we built ourselves and raised our son in was a little surprising. That uneasy feeling would likely be absent if it was strictly an investment property. Knowing that we had a place to return to was strangely comforting. I agree 100% with Dan's advise for what you are proposing, taking off for two or three years. Hire a reliable, professional property management company. We just did the ICW/Bahamas thing so we were rarely out of touch for more than a few days. On one hand I think that there are few better was for the average person to build equity than to own some real estate but life might be a lot simpler if you didn't have the potential headaches that renting is bound to produce.

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