Wow, these are the times that try landlord's patience - for sure! After almost four full months listing the property, we finally got a tenant to sign no the dotted line. Renting this property was definitely an ordeal - from qualifying (and denying) several, to almost having a few others, to having our sign stolen, and on and on, we finally got it rented.
The good news, though, is that we feel confident the person renting the place is going to be an ideal tenant. Heck, they even have a better credit score than I do! Since they didn't plan on starting to rent until May 1st, we had them pay us the security deposit and 1st month's rent up front - and we made it nonrefundable on the off-chance they decide in two weeks not to rent. Additionally, they don't have any pets.
This coming weekend, I need to spend a day doing more "clean up" to the house. Mainly, this will consists of back yard work as the live oaks have shed their leaves and the yard is covered with them. I also bought some new exterior door locks/handles I'll need to install.
Also, the person liked the house so much they wanted to do a "Rent 2 Own" right away. Unfortunately, they didn't want to put down a lot of money right away, so that fell through. I told them if they were still interested in purchasing the home at the end of (or even during) the lease term, we'd be open to the idea.
The one downside to this is that we won't be cash flowing much on the property. Factoring in the 4 months it was vacant and we will actually be in the red this year by about $100/mo. However, if the economy turns around in the next year or so, we can hopefully sell it for a decent profit (or just keep renting it out).
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