LitGal
Full time employment: Posting here.
Hello, All--
Last month I started a thread "Need LTC $ for Mom: Become a Landlord?" Many thanks to all of you who responded with your practical concerns and helpful advice. Most of you advised against renting my mom's house from long-distance, and that made good sense to me as well. However, after meeting with an elder-law attorney, by brother and I learned that-- if our mom is to eventually qualify for Medi-Cal, and we want to protect the house from state "recovery" to pay her bills-- her house should not be sold until after her death. (Long story on that about "why.")
So, DB and I are left with needing to rent it, to generate monthly income to pay her assisted living bill. Fortunately, his job situation has settled down a bit and he lives only about 1/2 hr. away from her house. (And she is now living in an assisted living facility in the town where he lives.)
That's the basic background. So, here is today's question. If you have been a landlord, could you please let us know whether you have found it best to rent a house furnished or unfurnished?
Since Mom's house is in a suburb of Sacramento, we figure there may be a market of new college grads and/or state political employees who might be interested in the convenience of a furnished house. We would, of course, remove all the personal items and housewares, leaving only furniture. (However, the styles are dated......about 15-20 years out-of-date.) We would only add $100-200/month to the rent, if renting the house furnished.
But, again, does anyone have experience with how this might work out?
Thanks again for sharing what you know.
Last month I started a thread "Need LTC $ for Mom: Become a Landlord?" Many thanks to all of you who responded with your practical concerns and helpful advice. Most of you advised against renting my mom's house from long-distance, and that made good sense to me as well. However, after meeting with an elder-law attorney, by brother and I learned that-- if our mom is to eventually qualify for Medi-Cal, and we want to protect the house from state "recovery" to pay her bills-- her house should not be sold until after her death. (Long story on that about "why.")
So, DB and I are left with needing to rent it, to generate monthly income to pay her assisted living bill. Fortunately, his job situation has settled down a bit and he lives only about 1/2 hr. away from her house. (And she is now living in an assisted living facility in the town where he lives.)
That's the basic background. So, here is today's question. If you have been a landlord, could you please let us know whether you have found it best to rent a house furnished or unfurnished?
Since Mom's house is in a suburb of Sacramento, we figure there may be a market of new college grads and/or state political employees who might be interested in the convenience of a furnished house. We would, of course, remove all the personal items and housewares, leaving only furniture. (However, the styles are dated......about 15-20 years out-of-date.) We would only add $100-200/month to the rent, if renting the house furnished.
But, again, does anyone have experience with how this might work out?
Thanks again for sharing what you know.
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