Anyone Own/Owned Rental Properties in Stillwater?
- Thread starter nathajw
- Start date
I've torn up a lot of rentals in Stillwater if you want my perspective
Not an owner myself, but one of my wife's old professors is owner of Henneberry (sp?) properties. Makes her a nice chunk of change, but I always got the impression that it was a major pain in the ass when you had renters that either didn't pay or destroyed things. Apparently it is a legal pain to get the to pay, removed, etc. She never made a big deal about it, but her and her husband are both professors and she, literally, is a princess of some country or other and financially didn't seem to care that much about the money coming in from the properties.
On that note, if you can, I'd go with a property mgmt company. They cut into your money, but they deal with most of the bs for you from my understanding.
I own one STW property. About to wrap up the third year. My son and friends lived in it one year. Have a daughter at OSU now but she doesn't live in the house. My kids have always done the rent collecting and the students in it now have always paid on time and many times ahead a month or two or three. If I choose to keep it after my kids are done at OSU, I will hire a management company just for rent collection purposes. No horror stories so far. House needed a ton of work when we bought(mainly cosmetic, exterior and interior paint, severe yard issues, general cleaning). There is always something that needs to be done tho. I include lawn care in my rent so I can control the the way the yard will be cared for. I have a guy who lives nearby that lets me know when it is ready to mow and then he takes care of it. He also does odd jobs whenever needed and is very reasonable.
It took me 18 months of searching to get the right house. Location and potential was critical. This is the time of year to buy as most homes in Stillwater are sold between now and mid summer.
It took me 18 months of searching to get the right house. Location and potential was critical. This is the time of year to buy as most homes in Stillwater are sold between now and mid summer.
