Rental Prospects in SHORT SALE Want GUARANTEE on FUTURE Rental Increases!

By
Property Manager with Gibson Management Group, Ltd.

I have rental prospects whose current home is in a Short Sale.  They want to move closer to their work and DOWNsize.

Rather than completing their applications, they are communicating about potential for rental increases at the home they are interested in.

I have offered them a lease through July, 2012 or July 2013 at the current rental rate - a considerable reduction because of the lateness of the rental season.



Somehow the RENT INCREASE Bug*A*Boo is scarier than the potential for.....

MORTGAGE Interest INCREASE;

Real Property Tax INCREASE; Property Insurance INCREASE;

HOA Maintenance Fee INCREASE (these NEVER DECREASE);

Property Maintenance INCREASE * properties get OLDER and they cost MORE.

There are no GUARANTEES in LIFE.....Not for HEALTH * WEALTH * WISDOM.  I have given them the BEST guarantee they will get - a FIXED TERM LEASE! 

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Rainmaker
686,759
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Wallace: That is certainly the best that they can hope for. Interesting that they didn't want a guarantee that the house won't go into foreclosure, that's probably a worse thing to happen during a rental period.

Oct 26, 2011 01:43 AM #1
Rainmaker
210,384
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!

With a lease you have just assured them that the rent wont go up for a year.....

Oct 26, 2011 02:46 AM #2
Rainmaker
420,748
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Wallace, 

Good of you!  There are few things that won't increase in price, knowing what the increase will be - if applicable is important to tenants.  Timing is everything!

All the best, Michelle

Oct 26, 2011 10:24 AM #3
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Rainmaker
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Wallace S. Gibson, CPM

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