Renting out a home that eventually needs foundation repair

2 Replies

Hi all, 

Working on a SS that may close soon. The home in question recently got a foundation repair estimate of $11K (in Texas), which is on the high side admittedly. I plan on renting this home out long term, and my question is, do I HAVE to fix the foundation now before I rent by law? If it's deemed safe and I fix the cosmetic cracks in the walls? 

My concern is when fixing foundation I heard it can ruin the plumbing and that's an extra expense. If renters don't care, and it's safe, I don't see the rush until I am ready to sell. 

On the flip side, if I have to re-do flooring anyway, it may be a good time to let them tear the place up.

Thoughts?

Assuming you disclose the issues and a structural engineer gives you a letter saying place is structurally sound, then you should be able to process as you wish.

BUT, don't cut corners when it comes to safety.

@Al Williamson  

Understood and much appreciated Al. I'm getting a second quote done next week and depending on what they say, I may have to just bite the bullet and get it done now. I've been told it's 50/50 we can save the flooring downstairs anyway, and if we can't save it I think now would be the time to do the foundation right? Just doesn't seem to make sense to put in new flooring that may last 7-10 years, and have to do the foundation in 5 and tear the floor up. I guess I could always put in CHEAP but decent looking carpet that may only last 3-5 years. 

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