For Rent in 30324>Question Details

Mya, Both Buyer and Seller in 30305

How can I turn my house into a corporate rental property?

Asked by Mya, 30305 Sun Apr 17, 2011

I am interested in renting my 3/3.5 house in Morningside to a corporation. How do I go about advertising my house to a corporation? Are there agents who specialize in corporate rental properties?

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You want to work with an agent that specializes in Property Managment. Most Established PM companies already have a group of Corporate/Insurance companies they have built a reputation with. At Elite Realty Group, we have several short term companies we work with, where their client base is exsisting home owners that have had possibly a fire or loss to their own home and need short term housing. With those clients we charge a premium rental rate, which is typically 25% above what the market conditions call for. These companies we partner with are well aware of our process and to expect the rent to by more than the MLS listed rental rate. We also work with companies that need short term leases for their employees, and the same premium rent applies ar previously mentioned. You would be able to hold the security deposit which would also be equal to the higher rental amount. Elite would market the property, and even though the rent would be covered through the "Corporate" relationship, we would still required the tenant to complete a full application process including collection of bank statements, credit report, verification of income, sex offender checks, paystubs etc... The reason that is still so important, if the tenant damages your property in any way, typically the "Corporate" company would not be responsible for those damages.
Our office has a fully staffed collections department. They specialize in getting those funds back from the tenant to cover damages through processing of small claims, judgments, fi-fas, garnishments and levys.
If you need further on this matter our office number is 770-305-7934
1 vote Thank Flag Link Tue Apr 19, 2011
If you have an existing residential mortgage you need to make sure your lender does not have restrictions in place about modifying the use of the home before you make the change. Otherwise you could be facing an issue where the lender may have the right to call the loan due in full. Read your mortgage note, few people read them at closing but that information would be in there.

Best to you
Web Reference: http://kennycook.com
0 votes Thank Flag Link Mon Apr 18, 2011
Great question! Luckily, I specialize in rental properties so I can help you. The first thing we need to do is meet and figure out how much to ask for your home per month then we can assess the marketplace. Contact me at JacksonSold@yahoo.com or call me at 404 754 1036. Thanks!
0 votes Thank Flag Link Mon Apr 18, 2011
Hi Mya,

We can work together to make a few calls and I can get it added to a few lists. They have not been as popular lately with firms cutting back. Let's also explore other options.

Sonya D. Jones
678-755-6590
sonyadjones@gmail.com
0 votes Thank Flag Link Sun Apr 17, 2011
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