I had some clients who were very interested in getting their property sold, but things weren't moving fast enough. They had little to no equity in it, as they'd purchased it just a year before, so we couldn't do much with the price. I asked them if they'd like me to market it as a rental and for lease/purchase, and they agreed.
A few days after we started the marketing, I got a call from an agent who had a couple and three kids who had lost their house in a fire. The agent represented the insurance company, and was trying to find them a rental.
It was going to be short term, so instead of our asking price of $1200 a month, the insurance company was willing to pay $1400 a month. Then, I remembered that my clients weren't tied to the furniture - they planned on selling everything they owned when their house sold, as they were going into the peace corps. I asked the agent to check on how much the insurance company had authorized to rent furniture, and found it was $700 a month.
We inked a deal for $2100 a month, house, furniture, and all! My clients were ecstatic, the other family now has a house (my folks agreed to move out in 72 hours from when this all began!), and the agents made a little money. It can't get better than a win-win-win all around!
And what happens when the current tenants move out? The other agent has already said he has a LOT of insurance companies looking for similar situations. This just might work out great!
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