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01-07-2009, 03:44 PM #1
Renter
- Join Date
- Jan 2009
- Posts
- 1
Site unseen rental terms?
Hello, I'm looking to move to the other side of the country. I have a question regarding agreeing to rent a house, site unseen.
I'm good at doing my research and I know what I want, I found my last 4 houses online and never actually needed to see them first hand to make my decision. I did go view them as a formality but my mind was made up prior.
I see no reason to make a 3000 mile trip just to see a house I already know I would like to rent. However, there is always that ~5% chance that the neighbors are insane or the house is dramatically different than the photos and satellite images. So my question is, what would be some reasonable terms that a Realtor would have no problems agreeing to, given that it would be site unseen?
I was thinking, initially sign a 3-month lease, paid in full. With the terms that I reserve the right to sign a 9 or 12-month lease within 30 days. Should something be dramatically wrong and I do not exercise the right to a longer lease, I would provide 60 days notice. Another would be to sign a 12-month lease, with the option to cancel it within 30 days with no penalties other than providing 60 days notice.
Those sound reasonable to me but would a Realtor agree to such extra terms to make it a lot easier on somebody moving across the country?
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01-07-2009, 04:36 PM #2
Fixer Upper
- Join Date
- Nov 2008
- Location
- Michigan
- Posts
- 22
would depend more on the landlord than the agent and the local market, definitely recommend seeing it first
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01-08-2009, 02:16 AM #3
Condominium
- Join Date
- Sep 2007
- Location
- Indianapolis
- Posts
- 302
I don't do rental properties, but I am a landlord and I would probably agree to something like that only if I had problems renting it. Turnover is very expensive for landlords. I would be more inclined if you offered a large security deposit.
Mike Taylor
Broker/Owner
Red Door Real Estate
Indianapolis Real Estate| Indianapolis Homes | Indianapolis New Homes | Carmel Real Estate | Fishers Real Estate |Noblesville Real Estate | Greenwood Real Estate | Zionsville Real Estate | Westfield Real Estate | My Real Estate Blog
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01-15-2009, 08:19 PM #4
Fixer Upper
- Join Date
- Nov 2006
- Posts
- 34
I also own rental properties, and would be a little hesitant to offer a very short term lease due to the cost of re-leasing the property.
I would suggest you make the offer of the 3 month lease and see what happens. If they say no, all you have to do is ask if they have any suggestions. There is a good chance they will come up with a happy medium.
If not, you will have to decide how certain you are that this is the right property. Do you know anyone in the area that could walk through it for you?
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