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Is it a bad idea to get a 2br with intent on renting out?
Hey, I am moving to a new city in the fall and all the appartment shares suck. If I got a 2br here it is only 740.00 and includes club pool, tennis courts and gym. Much better than all the appartment shares listed right now. I am just concerned with getting stuck not being able to rent it out.
Given your previous experience with finances yes this is a terrible idea
Well... Im no longer in debt. I got a huge rebate because I did not get a stimulus check last year.
Congratulations on that, but getting out is not the end goal - staying out is.
Getting into a situation like this where you're depending on someone else to keep you out of the poorhouse - and splitting a 2br when you can't afford it yourself is doing exactly that - is a bad idea.
Keep looking, and lower your standards. I'm sure you don't need a club pool, tennis courts, and a gym with that apartment.
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Inquisitor772 x Penny Arcade Fight Club ChampionA fixed point in space and timeRegistered Userregular
edited May 2009
Think this one through. You aren't just depending on someone else to pay the rent, you are basically putting yourself in a situation of responsibility - should they fail, you will be the one expected to cover for them. Even if you manage to place yourself in a situation where, legally, they may "owe" you money for failing to pay, it takes months if not years to get that money, and there is no guarantee they will ever pay you back.
The only time this is a good idea is if you are good to cover the rent should someone back out on you. Otherwise, forget it. This is analogous to your situation with debt. If you can't afford to pay it back, don't spend it.
Also, have you thought through the ramifications of actually living with someone you don't know? Let alone living with that person, and having them beholden to you for rent? Living with other people can be difficult enough - putting money on the line can cause seriously sticky situations. Given your history with money (and life), the less liability you give yourself, and the fewer complicated situations you place yourself in, the better.
1. Most apartments require whoever's living with you to be on the lease.
2. For an excellent reason. Getting someone off Craigslist is a crapshoot, even after you meet and interview them. Some people will destroy their homes and leave you with footing the deposit.
I dunno about your location, but here we are swimming in empty housing. The two (low cost) units on the floor below us are vacant, and everyone I know that rents out property is having trouble finding tenants. Now is not the time to make that sort of gamble.
Also, just because you have an available room doesn't mean you're going to find a great roommate to fill it. Do you really want to put yourself in a situation where you have to live with some douchebag so you can make rent?
Would you rather have a shitty apartment share, or pay for a two-bedroom by yourself?
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Just_Bri_ThanksSeething with ragefrom a handbasket.Registered User, ClubPAregular
edited May 2009
Bear in mind also that subletting may not be allowed in your area based on zoning laws, and that if you collect money from someone for that purpose you may need to indicate it as income on your taxes.
Just_Bri_Thanks on
...and when you are done with that; take a folding
chair to Creation and then suplex the Void.
I dunno about your location, but here we are swimming in empty housing. The two (low cost) units on the floor below us are vacant, and everyone I know that rents out property is having trouble finding tenants. Now is not the time to make that sort of gamble.
I am moving to Tampa FL. I might be able to get a studio for 400 that is decent but I do have a fair amount of stuff. Also, I want a roommate to chill with because I am going to be new to the town and know no one.
It almost doesn't matter where you go. If it's in city limits, expect to pay 700+, and 800+ is not uncommon. Even for the smallest most plain places. Tampa was one of the housing bubble capitals and there is still a good bit of inflation creeping around now that everyone lost their house and have no other options.
I was hunting around there about 3 months ago and have had several friends who are living and have lived up there in 1 beds, and they've all had issues going it alone.
If you want to get some cheaper rent, check out Oldsmar, Wesley Chapel, and Brandon. Depends on what you are doing. Oldsmar is north, Wesley is east, and Brandon with South East, but going out there you'll be saving 100-150 a month easily in rent. In exchange you'll be adding 10-15 minutes to your drive.
Stay out of New Tampa and the regions directly around the airport. You'll get gouged.
One of my friends just moved there and she said it was much cheaper than the other stuff in the area. It's in North Tampa right between a pretty nice part of a town and a pretty crappy part of town. Camden has like 7 complexes in the city and they let you transfer your lease to any of their places in the country for a nominal fee.
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Which means you have to put your future roommate on the lease.
Which is usually not fun, or a good idea, especially if you don't know the person.
Ask the management about their subletting policy.
Don't get an apartment that costs more with the intent to get a roommate unless you can pay for the place on your own and still be alright.
we also talk about other random shit and clown upon each other
Can trade TF2 items or whatever else you're interested in. PM me.
Well... Im no longer in debt. I got a huge rebate because I did not get a stimulus check last year.
Congratulations on that, but getting out is not the end goal - staying out is.
Getting into a situation like this where you're depending on someone else to keep you out of the poorhouse - and splitting a 2br when you can't afford it yourself is doing exactly that - is a bad idea.
Keep looking, and lower your standards. I'm sure you don't need a club pool, tennis courts, and a gym with that apartment.
Can trade TF2 items or whatever else you're interested in. PM me.
Yeah dude, getting free money is great and all, but don't just use it up faster than it's coming in.
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The only time this is a good idea is if you are good to cover the rent should someone back out on you. Otherwise, forget it. This is analogous to your situation with debt. If you can't afford to pay it back, don't spend it.
Also, have you thought through the ramifications of actually living with someone you don't know? Let alone living with that person, and having them beholden to you for rent? Living with other people can be difficult enough - putting money on the line can cause seriously sticky situations. Given your history with money (and life), the less liability you give yourself, and the fewer complicated situations you place yourself in, the better.
2. For an excellent reason. Getting someone off Craigslist is a crapshoot, even after you meet and interview them. Some people will destroy their homes and leave you with footing the deposit.
chair to Creation and then suplex the Void.
I am moving to Tampa FL. I might be able to get a studio for 400 that is decent but I do have a fair amount of stuff. Also, I want a roommate to chill with because I am going to be new to the town and know no one.
It almost doesn't matter where you go. If it's in city limits, expect to pay 700+, and 800+ is not uncommon. Even for the smallest most plain places. Tampa was one of the housing bubble capitals and there is still a good bit of inflation creeping around now that everyone lost their house and have no other options.
I was hunting around there about 3 months ago and have had several friends who are living and have lived up there in 1 beds, and they've all had issues going it alone.
If you want to get some cheaper rent, check out Oldsmar, Wesley Chapel, and Brandon. Depends on what you are doing. Oldsmar is north, Wesley is east, and Brandon with South East, but going out there you'll be saving 100-150 a month easily in rent. In exchange you'll be adding 10-15 minutes to your drive.
Stay out of New Tampa and the regions directly around the airport. You'll get gouged.
*edit*
Consider checking out this place:
http://property.onesite.realpage.com/templates/template_camden/community_body.asp?w=camdenbay&t=template_camden&siteid=1009974
One of my friends just moved there and she said it was much cheaper than the other stuff in the area. It's in North Tampa right between a pretty nice part of a town and a pretty crappy part of town. Camden has like 7 complexes in the city and they let you transfer your lease to any of their places in the country for a nominal fee.
we also talk about other random shit and clown upon each other