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Parsonage Rent
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central va farmer
Posted 12/7/2023 06:53 (#10513610 - in reply to #10513550)
Subject: RE: Parsonage Rent

I have " a few " rentals. Unless your in the middle of nowhere you should have a real estate firm that will rent it for you. They will probably charge 1/2 the first month rent, then 6-8% per month. They deal with screening and tenants. I've found do not be social with tenants. Get the rent and move on. Becoming friends will allow you to be taken advantage of.

I'd charge 1st and last month rent plus security deposit. Give a 3 day grace period, then late fee of 10% of rent. Do not waive fee for any reason or it will become a habit.
Pets are a non issue. Charge a onetime fee or a extra $100 per month per pet. If people can afford that they are usually quality folks.

No section 8 at all. Quality of people you deal with is terrible. I'd run through a real estate firm if only one house to manage.
In my area ( outside charlottesville va ) rent is pretty much $750-$1000 per bedroom, all depends on location and how modern or nice home is.

Upgrade your insurance policy to reflect its a rental, and require tenant to carry rental insurance and list you as additional insured.

Good luck
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