I'm looking at purchasing a duplex in a rural Nebraska town. It's a small town of about 2,500 people, but has had a relatively strong rental market history with its location being between several other larger towns and its lower cost of living/housing than said towns.
I've done all of my analysis and have actually put an offer in yesterday (still waiting to hear back on the offer). My main question is, are there any landlord/tenant rules I should be aware of that are specific for the state of Nebraska? I've already researched on the subject, but if any of you have some firsthand experience you'd like to share, I'd really appreciate it!
PS - This would be my first real estate deal, and I live approximately an hour drive away from the property.
Gongrats man I hope its goes as planned. Sorry I don't have any great info for you about tenant/landlord rules. If you have any specific questions I can maybe answer those for you.
@Josh Nix Thanks for the reply! So I've heard Nebraska is pretty tenant friendly. I talked to the county clerk directly of this county (she owns 7 rentals herself) and she said you have to be VERY careful if you decide to manage on your own as opposed to hiring a PM. She said since NE is so tenant friendly, there are a lot of places you can get in a bind when it comes to eviction/late rent/etc.
Do you manage on rentals on your own/have you had any sketchy experiences with tenants trying to take action against you?
@Jim Adrian Thanks Jim! I’ll defiantly do that.
All inhabitable levels of the home must have at least 1 carbon monoxide detector which is a newer rule that began at the beginning of this year.
@Ethan Hamilton Thanks Ethan! That's good to know for sure.
@Marshall Leipprandt ! I'm in Canada, but just wanted to mention that I have a couple of properties an hour drive away. Things are working great. My biggest learning points were 1) always select great new tenants, because I made some mistakes and those were costly and 2) it was great when I found a trustworthy handyman (my husband does most fixes, but having someone right there is even better and very helpful sometimes). I also have a lockbox with a key by each of the houses, because the worst is when I drive for an hour and then realize that I didn't take the keys.
Yes I manage my own properties (15 units) and have never had an issue in 7 years. I feel like I screen them very well. I also have a few on section 8 / low income and no problems there either.