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Tim Moore, Real Estate Pro in Nags Head, NC

Does your MLS system offer long term rentals?

Asked by Tim Moore, Nags Head, NC Fri Apr 29, 2011

Our MLS does not offer long term rental information, at all, and I am wondering how typical that is around the country. I have worked several other MLS systems and all offered rental listings. So I am curious how many don't and if any offer just the listings without any commission, which is basically just a list that is available so someone will not have to use Craigs list and contact 20 realty companies looking for rentals (which is what we currently have).

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Clarification
Long term rental is a rental for a year as opposed to a week. We have 20,000 homes here on the oceanfront that we rent to families on a weekly basis and we call homes that offer a 6 month or longer lease as long term. The others are called weekly or summer rentals. We do not offer any rental information on the MLS at all --- NONE. The weekly rentals are all done by vacation rental management companies and not through the MLS but through their own websites. Those owners who rent to people for a yearly lease have to use Craig's List or newspaper ads or private websites because the MLS only offers homes for sale.

Tim Moore
http://www.joelamb.com
0 votes Thank Flag Link Fri Apr 29, 2011
In my experience, you cannot write a lease for more than 12 months. I would suggest looking in the remarks section of the listing to see if any indication is given as to the status of the seller and long term plans.
Add an addendum to the lease or in the lease that tenant agrees to sign a new lease with xyz terms within 90 days of termination of current lease, or state the tenant has first right of acceptance to extend the lease period under agreed terms...
All the best Tim~
0 votes Thank Flag Link Fri Apr 29, 2011
I'm surprised there are some MLS that don't provide for the input of rental info especially with the market being the way it is these days. My MLS allows for the listing and input of commisioned based seasonal and annual rentals on both furnished or unfurnished basis. Rental commissions certainly have contributed to my income the past few years.
0 votes Thank Flag Link Fri Apr 29, 2011
If by long-term rental you mean leases with durations longer than 1 year, then I'm not sure that making the distinction would matter. Just as an agent with one of those listings could post an ad on Craig's list, s/he could also post that info into the listing notes. An agent with a tenant could perform his/her search using a tailored/custom query (if necessary) to retrieve the listings with long-term rental in the respective notes.
0 votes Thank Flag Link Fri Apr 29, 2011
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