info bout renting a condo?

Pearlie Medora: Mortgage, percent down, etc. are numbers that are important if you are buying a property, doesn't apply if you are renting.I have a condo that I rent out and the tenant pays the rent, electric and gas bill, phone, and cable. They are also required to have property insurance on their valuables, I carry the property insurance on the apartment structure and appliances.When I used to rent, I tried to keep my monthly payment in the range of 1/4 to 1/3 of my monthly gross pay. I used to be ok financially and was able to make monthly car payments and put some into savings. I also rented my furniture as I moved around a lot and didn't want to buy. Didn't have any school loans though....Show more

Betsey Muehlbach: you will be required to sign a lease for a period of time for agreed upon monthly rent, plus a security deposit. make sure you can afford to pay the required rent because it will be due each and every months and if you don't pay on time, you wi! ll have late fees and may get evicted. a good rule is to make sure you don't pay anymore than 28% of your income for rent. good luck