So we have an offer for the house. Its from a family friend for renting. We were asking $1,400 because we were going to be using a rental company who charges 10% of the rent. They insure payments were made on time and that the house was kept up to standard. If renting to a stranger, its defiantly the way to go. But, if we rent to a reliable and trust worthy friend, I don’t feel the need for the rental company which means we would be able to offer it to them at a lower price. We were originally going to rent to one of my husbands friends for just the cost of the mortgage but they would be responsible for any repairs. The family friend offered to rent the house for $1,250 but our mortgage is only $1,050 so I am thinking of offering her rent for $1,150. That way we can put just a little into savings each month so that we are able to help with any unexpected repairs but not ripping them off. There are a lot of pros and cons to renting to a friend and renting in general. I wish more than anything that I could run this offer by him.
I know he’s ok with renting to a friend though because that was the original plan. I just want to make the best decision possible and its so stressful. I hate having to make decisions without him. I just don’t want to make a wrong or bad choice. This is where I know I have to listen to and trust God. I don’t want to just take the first offer because its an offer but at the same time, this is everything that i have been asking for and feel most comfortable with. I don’t want to pass up Gods provision out of fear. Renting is ideal because if we sell now, more than likely it will cost us around $8,000-$10,000. Thats a HUGE chunk of change that we do not necessarily have. The pros with renting is that its little to no upfront costs but at the end of the day, we are the ones still responsible for the mortgage. Regardless if the tenants pay or not. We also ultimately or responsible for repairs too. What if it needs a few roof in a few years or some other huge expense comes up out of nowhere? Its a lot to think about.
God I need you. Open my ears to hear your guidance. Give peace to my heart and calm my mind. You conquer my fears and shelter me from my worries. You have me in your hands. That I know.