Cinderella Chronicles * Part DEUX * I want them to move in the SPRING

By
Property Manager with Gibson Management Group, Ltd.

One of my current clients have moved twice since I started managing and renting their local townhome almost 5 years ago.

They are now exploring the possibility of selling the unit and have had their real estate agent view the townhouse and give them a selling extimate and market analysis.

Meanwhile, the townhouse residents want a KNOWN lease end date if they are to renew their lease and they know they will have a better chance securing a new home in the SUMMER of 2014 than March, 2014 which is when the owners' real estate agent is telling them they need to put their property on the sales market.

An e-mail from my residents last night said it very succinctly - they don't think they can find suitable housing next March and are better off moving THIS/2013 summer and have a KNOWN lease end date next summer....and they are correct.

.....SO * when these CURRENT residents MOVE at the end of their current lease this summer, the townhouse owners will ONLY be offering a 8 to 10 month lease AT a greatly REDUCED rent to accommodate their sales agent's suggestion that the townhouse be vacant March, 2014.

 

Posted by

Wallace S. Gibson is a Certified Property Manager with over 50 years of property management experience and expertise.  She maintains a specialized property management business in Central Virginia serving Albemarle, Greene, Fluvanna and Louisa counties  

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Comments (5)

Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS
Wallace - since I don't do property management, this is the second post in two days where you have educated me about the timing of leases.
Mar 11, 2013 10:28 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Wallace.  That is going to be a pain for you dealing with a short term lease.  Good luck.

Mar 12, 2013 01:56 AM
Nick T Pappas
Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource
Wallace, it's so difficult finding a lease less than a year...that much I know, however I did manage to place three six month leases so far this year.
Mar 12, 2013 01:11 PM
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

This is great information Wallace.  You often bring up issues most people don't think about.  And that's the point!

Mar 12, 2013 07:38 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Leases for a minimum of the school year are the norm and shorter terms are usually for furnished properties in our area

Mar 12, 2013 07:46 PM