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General Landlording & Rental Properties

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Stephanie D.
  • Kingsville, Ontario
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How to get over the fear of renting out?

Stephanie D.
  • Kingsville, Ontario
Posted Jul 22 2015, 06:32

So we've got an accepted offer on a nice small duplex. We need to meet all conditions by Friday and everything seems on track. We haven't had the inspection done yet because that would be the first money we have to spend on this place (aside form the refundable deposit) and we are not sure yet. The financials look good. There are better deals to be had, but we are looking to rent in a student area and the fall semester is fast approaching. The duplex has been fully renovated which could help us fill it even this late. I put a test ad up with real photos on Kijiji and got a lot of interest in a short amount of time (9 replies in a few hours). There is a bit more work required (install a washer dryer in both units, replace a stair runner, buy a few items since there is literally nothing in them, and a bit of landscaping), but nothing extreme. The main thing holding me back is the fear of renters. You hear so many horror stories. And everyone we talk to in real life says that student rentals are a terrible idea, whether they have direct experience with it or not. Is all this fear worth it for an extra $300-400 a month? Help!

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