Date: 23 October 2014. Renting versus Selling.
Periodically I'll get a note from an individual with a house who is
considering renting versus selling said home. The theory (and
everything works in Theory) is the rent can fund the cruising
kitty. While that sounds wonderful on the surface, there are pitfalls. And though
some have had favorable experiences, I did not.
renting the house was an unmitigated horror. Damage did occur and
rent was late. Plus every little thing that you'd naturally take
care of because you own it, will be your problem. Your
Expensive-to-fix problem. A tenant won't tighten the screws holding
a hinge to a cabinet. Doors will be slammed open and the gizmos that
should have prevented damage will have been broken/removed.
Need I remind you of fleas?
Vermin? Your contract calls for no pets? Ha! You're not there and
besides they have a medical necessity for a critter.
Don't say it cannot happen
to you and yours. It can, and might.
I survived the
experience but the key words I took from it were: "Never Again."
The city fined me for the
trash left in front of the house when the tenant left. Finally. And
it cost me a lawyer to pry her out. It took nearly a year to get rid
of her and of course no income for that time -- just expenses.
some the rentals have worked well, many times it denigrates into a
nightmare. And don't forget you're underway and far from the source
of the problem. Resolving issues when you're in the neighborhood are
one thing. Try being 1,000 miles away at anchor off Bahia Honda.
Gypsy, a MacGregor26 at anchor in the Florida Keys
off Bahia Honda State Park.
agencies solve some problems and good tenants make a world of
difference. However when things go wrong, they can go very, very
wrong. And depending upon the level of disaster, your cruise could
be cut short.
I'd never rent to a
tenant. If the individual or couple cannot afford a down-payment, tough.
reason though is one that was shared by a fellow boater. He said
that the peace of mind he enjoyed by not having to worry about a
house was worth all the tea in China. I understand that and revel in
same. My world is Seaweed, and she's enough.
smarter than I was. Take the money and run. Or cruise.
Bottom Feeder, a houseboat came down the Mississippi
River. What a life, eh?
life does not require a ton of cash, and inexpensive boats are
plying the same waters as the high dollar yachts. I'm proof of that.
So too is Bob aboard his Bottom Feeder who in the above photo is
cruising upriver in his houseboat.
Did you keep your house while cruising or sell?
And, are you happy with your decision?
Head Hints (and engine update) ~
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Spook-tacular circa 2014