Rent in Rocklin (sale, real estate, rental)

[Holidaybabies2]

Moving in a few months and looking to rent in Rocklin. My husband works from home and I'm a SAHM so not concerned about a commute. We would like:

-a 4 bedroom (or a 3 bedroom with a study/office)
-a newer home
-walking distance to a park and/or elementary school
-long term rental (3-5 yrs)
-$1500-1900/mo

SO, how do we insure that the home wont be sold out from under us? Is it ok to ask if they have plans to sell in the next few years? I'm truely concerned that we will move in and then they will sell and we'll have to move again in a year or less. Anyone have any insight? thanks all!

-J

[Kingsnkali]

Hard to get a 3 to 5 year assurance from anyone owning a single-family home and renting it out to you. Doesn't happen. I would never agree to anything like that to a renter. Situations like employment, tax implications, mortgage etc. change too fast. And I simply might not like you as a renter.

Looking at the current bad market, you might get 1 to 2 years though.

You would have to turn it around and ask yourself, would I agree to have MY single family home rented out to an exclusive party for 3 to 5 years???

[Rob98LS1]

I am not sure about the rental, but you should be able to get into a home in rocklin for 1900, 3 bdrm, I found one in the newer part of rocklin in about 5 minutes. There are parks all over rocklin, as well as elementary schools, which is where most of the new homes are as well. Here's a quick example.
Rocklin, CA 95765 Real Estate: MLS # 70129678

good luck!

[Kingsnkali]

The tax implications are such that the current homeowner must occupy the house as their main residence for a minimum of 2 years of the past 5 years to exclude the gain from the sale of home.

The IRS would be picky down to the day.

So you might find someone that can rent to you for (at the very most) 3 years.

These tax implications involve the maximum $500,000 (married filing jointly) or $250,000 (single) real estate gain that is excluded from taxes upon the sale of the home.

You might find someone who owns multiple homes though. Or someone not interested in selling after you leave. The point is, there are major tax consequences for the homeowner here when renting for long term.

Good luck to you.

[Cayce29]

Well said, Kingsnkli; I agree with all of your points made in both posts above.

[Holidaybabies2]

well, certainly food for thought. thank you all for your time and words of wisdom. I guess we'll have to try to find a rental for 1-2 years and hope for the best.
thanks again -Jenn

[Luke9686]

If you sign a year lease it is illegal for them to kick you out before your lease term is up. Even if they do sell, the new landlord must honor your lease.