Potential renters

I have a young couple that is interested in renting my house at the start of the summer. If I rent my home for 600.00/month for 12 months, I'll still be paying under 100.00 out of pocket towards my mortgage, plus the house insurance and the water bill. ( roughly in my estimates amother 150.00). I would be coming out "saving" close to 1000.00/month. That means a) continue to board next year for work ( which is fine), and "live" in my parents home on the week-ends. The dog would live with my parents ( if that's the route I take). I'm not crazy about staying with my parents for a year, but if I can pay off over 12,000 of my debt it's a good thing. That means that I would be completly debt free by July 2012.

I could work every week-end ( excpet long week-end), and live off of the wages from that. I need to sit down and re-jig everything, and finalize numbers. Actually I'd pay off even more, but right now the 12000 would be by just now living in the house for 1 year.

Today is so cold, my feet were cold the entire drive this morning, and I actually warmed up by 1:00 this afternoon. I'm off to bed soon, tomorrow night I'll be going to Zumba again, and Thursday night I'm going out.

Then its back home Friday!

Comments

Canadian Saver said…
Sounds good!

One thing though, if there is a problem, will your Dad be able to go over and fix it or call someone? I know my coworker has 2 rental houses and she says it stresses her husband to no end.... but she says if there's a problem she just picks up the phone and calls someone.

The number crunching is interesting!
Ria said…
If only I could rent from you! My roommate and I are paying $535 a month right now for a 2-bedroom apartment that only has one functional bedroom (the second is half the size of the first, at the back of the apartment, and is uninsulated and unheated), slanty floors, lightswitches that sometimes shock us, and a central heating system that gives us the wonderful scent of marijuana sometimes. Let's just say I can't wait to move somewhere better!
The Witch said…
Young couple?
Try to get some background checks on them and where they last rented.
The last thing you want is too have them separated and not making rental payments.
It is not that easy to have someone evicted for not paying the rent.
I have friends who went through this and what a nightmare it turned out to be. The court is always on the renters side until proven otherwise especially in the Winter and heating season.
Just a heads up.
its me, sam said…
CS, Between my Dad and a friend, they'll do this for me.

Ria, the renters will have to pay for the utilities too, probably around 300/month for oil and electricity. I feel for you, some landlords are not so good at who they rent to!

Witch- By young I mean mid-twenties.I know the girls family very well, one of her aunts is a good friend, so I'm not worried about that. Plus their engaged, and don't want to rent an apartment. She owns her own business and is very responsible young lady, I've met her fiancee a few times and he seems grounded.

Popular Posts