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Old 06-27-2016, 08:34 PM
 
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I'm looking for advice from owners of rental properties who use management companies.

What could I, the renter, offer upfront that would convince the owner or the management company to do a long term lease (30 mons.)?
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Old 06-27-2016, 08:37 PM
 
Location: SF Bay & Diamond Head
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Quote:
Originally Posted by charlygal View Post
I'm looking for advice from owners of rental properties who use management companies.

What could I, the renter, offer upfront that would convince the owner or the management company to do a long term lease (30 mons.)?
Thirty months of rent in cash.
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Old 06-27-2016, 10:22 PM
 
Location: Rural Michigan
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Originally Posted by honobob View Post
Thirty months of rent in cash.
that's a sure way to get your offer rejected - people offering to front that much money could easily buy & may have an illegal use planned for the property -I.E. "drop house". After hearing an offer like that, I wouldn't rent to that person at any price or for any term.

To the O.P. - is there a reason you need a 30 month lease? If there is, than that's what you tell the leasing agent. I.E., "I'm finishing my degree, and plan to move in 30 months", "my employment contract is 30 months", etc.
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Old 06-27-2016, 11:05 PM
 
Location: North Idaho
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For me, nothing. Except I'd wonder why you wanted to lock in for 30 months, since some of us landlords are suspicious types.
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Old 06-27-2016, 11:21 PM
 
Location: El paso,tx
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As a LL, I'd jump at a 30 mo lease. Only caveat, would be if I had discounted rent, due to having more than one rental available at the time. If it was at market value, I'd do it in a heartbeat.
If a renter qualifies, regarding credit, prior rental history, criminal and eviction ck then it is great if they want a longer term lease.
The only time I won't do one is if I reduced rent, or if tenant wants a reduction in rent in exchange for doing a longer lease and is military. That's because they can get orders to deploy, and I have to let them out of the lease under the military clause, so I would have ended up leasing at a reduced rate, and still losing them.
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Old 06-28-2016, 02:19 AM
 
Location: Rural Michigan
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Originally Posted by Spottednikes View Post
As a LL, I'd jump at a 30 mo lease. Only caveat, would be if I had discounted rent, due to having more than one rental available at the time. If it was at market value, I'd do it in a heartbeat.
If a renter qualifies, regarding credit, prior rental history, criminal and eviction ck then it is great if they want a longer term lease.
The only time I won't do one is if I reduced rent, or if tenant wants a reduction in rent in exchange for doing a longer lease and is military. That's because they can get orders to deploy, and I have to let them out of the lease under the military clause, so I would have ended up leasing at a reduced rate, and still losing them.
a long lease is a hazard for the landlord - if the tenants just aren't the kind of people you want to deal with, you can't get rid of them. As for the tenants, they can book any time they want, lease or no lease & good luck collecting.

In my area, even if a 1000 month lease was signed, i have to make a "good faith" effort to re-rent if they break the lease, so maybe I collect 2 months rent if I drag my feet rehabbing & re-renting & then i'd have to collect on that judgement - I can't make the tenant pay me 1000 months rent, but the tenant would have every right to stay for 1000 months & if they're bad tenants (slow pay, barky dogs, don't keep the yard nice, demand all kinds of repairs) - stuff that doesn't quite qualify for eviction, but is a hassle to deal with, that tenant owns you. I'll do a year's lease, because that's pretty fair to everyone, but not longer than that - certainly wouldn't give a discount for a long lease - I'm the only one who's really bound by a lease.
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Old 06-28-2016, 05:10 AM
 
Location: Phoenix, AZ area
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30 months isn't that long and I would wager most of us have done 24 before without a problem. The lease would have an automatic rent increase if it were me and would be an option to extend not a set 30 month lease though.
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Old 06-28-2016, 09:41 AM
 
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Originally Posted by oregonwoodsmoke View Post
For me, nothing. Except I'd wonder why you wanted to lock in for 30 months, since some of us landlords are suspicious types.
Between you and me, I'd like to stabilize my finances and knowing my rent payment will be the same for 2.5 years will help me plan my savings.
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Old 06-28-2016, 10:54 AM
 
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Quote:
Originally Posted by charlygal View Post
Between you and me, I'd like to stabilize my finances and knowing my rent payment will be the same for 2.5 years will help me plan my savings.

Just ask for a longer term lease. Done.
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Old 06-28-2016, 12:07 PM
 
13,395 posts, read 13,404,685 times
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Originally Posted by unit731 View Post
Just ask for a longer term lease. Done.
Many management companies will only do 12 months. That's why I asked the question.
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