For Rent in 60026>Question Details

Monica, Home Owner in 60026

how can we rent a house for a corporation?

Asked by Monica, 60026 Fri Mar 11, 2011

we have a house for rent to a corporation for few years,in glenview ill,60026

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Dayle Lively’s answer
Hi Monica,

As you are probably aware, the flagging economy and housing markets of the past couple of years have had an impact on home rentals nationwide--our North Shore included. Several years ago I was involved in helping to find housing for international executives who were to work for large companies such as Kraft and Unilever for a period of 2-3 years. While a small percentage of them purchased homes, most wanted to rent upscale single family homes or townhouses near their local employer. As property values were extremely high at the time, the selection of options was very limited because it wasn't profitable for homeowners to rent out their properties for anything other than exorbitant rental prices. Now, as homes have lingered on the market longer, many owners have turned to renting their houses to generate revenue until the house is sold.

It sounds as if you plan to rent your house for an extended period of time, so I understand how you would think it beneficial to partner with a corporation who might have ongoing rental needs for its employees. You might contact local companies to offer such a business arrangement.

If you have no luck doing that, you could rent the house yourself by advertising it in local papers and on websites. This, of course, would involve doing your own marketing, showings and negotiating--which may or may not suit your time, interest, and comfort levels.

You could also list your home with a realtor who would be responsible for handling details of the rental process, including preparation of a market analysis to help arrive at the optimal rental price.. Your home would be listed in the multiple listing service as well as other websites, maximizing its exposure. Corporations are more likely to direct their incoming employees to use the services of a knowledgeable real estate agent to secure housing, rather than providing a "company house," as each employee family would have its own particular needs and priorities. Also, agents working with buyers sometimes wind up helping them rent a home if they can't find what they're looking for--or if they buy a home that requires major renovation and they need to rent a place while the project is underway. Usually the commission paid by the homeowner to a listing company is equivalent to one month's rent, which is then split with the company representing the buyer

Please feel free to contact me with further questions.

Regards,

Dayle Lively

847-507-8832
0 votes Thank Flag Link Sun Mar 13, 2011
Hi Monica,
I would be happy to talk to you about this as well as to check with the village about any possible restrictions. You can email me at kate.barnett@cbexchange.com or call 847-858-9262.

Regards,
Kate
0 votes Thank Flag Link Thu Sep 5, 2013
It sounds like you are the owner asking about renting out your home to a corporation, is that correct? You would have to check zoning ordinances with the village before proceeding.
0 votes Thank Flag Link Fri Mar 11, 2011
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