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We are renting a home for $4000 per month and in our lease owners can begin showing home for sale in next few weeks. We knew this stipulation when signing lease, but know there is a brokers open house and we are told perspective buyers can come btwn 9-7, 7 days a week with little notice. We have kids under the age of 3 and didnt think the whole thing would be so invasive, considering the amount we pay for rent. Our lease does not end for 4 months. I guess we weren't thinking when we signed the lease, because we were in a bind, how annoying this would be. Are there any stipulations I can place on buyers agent regarding showing times. Is it necessary to have brokers open house. Also- what if something is broken or stolen from the home. Who will be responsible???? Thanks!
I don't know what state you are in, but chances are there are rules for tenant's rights. Most states require 24 hours notice to the tenant prior to any showing. My state actually requires 24 hours WRITTEN notice. Even when an owner is occupying the property, there are limits that can be placed on showing a property. I'd call your local board of realtors to check it out.
In the event that we are unable to sell our home in the next 6 months we are considering renting it out. We hope beyond hope that the renters will be respectful of our wishes to continue to try to sell the home. We also hope they don't trash the place and reduce the value.
As a home renter you have to be aware that you don't own the home and you may have to move out if it sells. And you may have to allow strangers into your home that are interested in purchasing.
Actually in most cases you are wrong. If you choose to rent, unless stipulated in the lease, the renter does not have to allow anyone to see the home until one month before lease ends. Also, a lease is a lease, the renter would not have to move, rather the owner would have to work closing date around the renter. Renters usually have more rights than landlords. You cannot have your cake and eat it too. If you want to make money through renting then you will have to make concessions- otherwise don't rent out the house. Also- if a renter destroys your home take them to court, but if you simply dont like the way they have furnished the home- you are stuck w it- no matter what furniture they have.
It all depends on what the lease says, really, as far as your rights as tenants and showing the property.
I'd recommend talking to the landlord and trying to work out something reasonable (earliest hours and latest hours - however, 9 a.m. to 7 p.m. is really quite reasonable). You might be able to work with the landlord and the listing agent to require an hour's notice, say, before showing, or no showings during a specific period that is nap time for the little ones. Real estate agents will generally understand limitations like that (we don't want to wake up a wee one in the middle of a showing any more than you want us to, trust me!).
As for the broker's open house, that shouldn't be more than a couple/three hours at most on one day, usually (real estate agents are busy people).
I WOULD recommend, as I do to sellers who are living in the home, putting away valuables and prescriptions while the house is on the market. That's just common sense when there are going to be people coming through the house.
Also, a lease is a lease, the renter would not have to move, rather the owner would have to work closing date around the renter. Renters usually have more rights than landlords. You cannot have your cake and eat it too.
You say you signed a lease stipulating that the house would be shown to sell, and you admit you might not have been thinking before signing such a lease.
Open houses and showings between the hours of 9-7 on little notice is pretty much par for the course in selling a house.
But now want to know how you can limit the number of showings because you didn't realize how inconvenient it would be?
I agree, a lease is a lease, and you can't have your cake and eat it too. Trying to hamper the owner's efforts to sell their property, after renting to you got you "out of a bind", isn't exactly playing cricket, IMO.
We are renting a home for $4000 per month and in our lease owners can begin showing home for sale in next few weeks. We knew this stipulation when signing lease, but know there is a brokers open house and we are told perspective buyers can come btwn 9-7, 7 days a week with little notice. We have kids under the age of 3 and didnt think the whole thing would be so invasive, considering the amount we pay for rent. Our lease does not end for 4 months. I guess we weren't thinking when we signed the lease, because we were in a bind, how annoying this would be. Are there any stipulations I can place on buyers agent regarding showing times. Is it necessary to have brokers open house. Also- what if something is broken or stolen from the home. Who will be responsible???? Thanks!
They can enter with reasonable notice. In most cases 24 hours is considered reasonable notice.
Just let the owner know you need to be informed ahead of time.
If they are going to continually ask you to go above and beyond what would normally be expected I would ask for some kind of compensation.
The question is, what would "normally be expected" in any property for sale.
It's done, but those houses tend to stay on the market for a long time, because they're "difficult to show" and relocating buyers would prefer to view the comparable homes that are easy, or even possible, to see while they're in town looking.
An hour or two would be considered reasonable for a house on the market that is not occupied by a tenant.
Which brings up a different, but related issue - those tenants who don't WANT the house to sell and thus will make it difficult in a variety of ways - not wanting it to show, not wanting to keep it clean so that it shows poorly, that kind of thing. That's probably why most, if not all, leases have the agreement regarding showing rights of the landlord if the home should be put on the market, just as they have similar agreements regarding showing it if the tenants are moving and it's "on the market" to be leased when they move out.
I agree, a lease is a lease, and you can't have your cake and eat it too. Trying to hamper the owner's efforts to sell their property, after renting to you got you "out of a bind", isn't exactly playing cricket, IMO.[/quote]
I dont think our paying close to 50k in rent is getting us "out of a bind", its just that we needed a rental at that time. We didnt get a lower price or anything.I would never make it difficult to sell- we want it to sell asap. we are closing on our own home at end of lease. the sooner the house sells, the sooner it can stop being shown. i was simply wondering if there were limitations- such as no open houses, hours, etc- considering we are renting and not the owners and we have quite a few months on the lease. I know we could make it difficult, but that I would never do. just want to be fair. I dont want groups of people wandering through my home- bc it is my home for the time being.
It depends on your state laws. In Oregon tenants are required to be given 24 hour written notice unless the tenant agrees otherwise. Most tenants agree to be reasonable and request a one hour lead time. I would just tell the listing agent the general nap time of your kiddos and they will work showings around it. It really isn't a big deal, we do it all of the time.
Most of the showings are going to be after 4:00 and on weekends. If you are paying $4,000 a month in rent, you are in a high end home. I don't know anyone, out here anyway, that does open houses regularly for high end homes. Most out here are by appointment only. The listing and selling agents are usually both present as well. As long as th seller gives you 24 hour notice, they can hold an open house if they want to.
Broker opens for high end homes are very common, and most people do just 1-2 of those right when the home is listed. They tend to occur on certain days (out here it's Tuesdays). I really think it is going to be less invasive than you think. High end homes just aren't flying off the shelves. I don't think you will have ton of showings.
You need to lock anything valuable up or move it to storage. You are responsible for your stuff. I would look at your renter's insurance and see what it says about this, if they would cover any losses. My guess is your lease does not cover any of your personal items.
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