Rentals in University Hills>Question Details

Cori Dombros…, Renter in Austin, TX

Are homeowners with houses for sale ever willing to rent them for 1 year?

Asked by Cori Dombroski, Austin, TX Wed Aug 21, 2013

Help the community by answering this question:

Answers

10
Mike Porter’s answer
It's rare but not completely unlikely. Give that Austin is in a super hot sellers market, homes are selling very quickly. Average rents in Austin are around $1400 and if your in the position to buy, it's a much better option for you. I can help you get in a brand new home for considerably less than what you would pay in rent.
I've helped people buy homes with credit scores as low as 580 and in some case 0 money down.
Buying is worth considering.

Mike Porter
JMPORTER Realty/Homecity Real Estate
512-844-2318
http://www.homecity.com
0 votes Thank Flag Link Thu Aug 29, 2013
Hi Cori,

You never know until you ask. Never say never. Those clichés stated, in reality it is not the norm but sometimes if the situation and circumstances are right you can have success. Most sellers are anxious to sell their property as soon as possible so they have a certain mindset of wanting nothing to stand between their marketing of the home and finding a buyer for the home. Rental tenants are usually an obstacle as the showing of the home and coordinating move out / move in dates all have to be negotiated around the tenants lease agreement. Honestly, Realtors don't like that being an issue in marketing the home or negotiating a sale. Path of least resistance and that sort of thing.

However, if you are not real picky in your requirements and are very flexible in your ability to adjust your living situation (you can be mobile quickly) you may find success. Here are a few tips:

1. Look for properties that have been on the market for a while. New listings usually will not be open to a rental situation. The longer the "time on the market" the better your chances.

2. Look for properties that are vacant. It simply creates less resistance. That doesn't mean that an owner occupied home would not work as the owner may need to move given scenario # 1 above. But vacant properties open up an opportunity for #3 below.

3. Present your situation as an opportunity to create a full time "open house” to the owner. Stress to the owner that you will be VERY accommodating to the showing of the property. Also emphasize that you will "stage" the home with your furniture and keep the property in "show condition" at all times. That said; make sure you can keep those promises. Also emphasize that someone living in the home is better than a vacant home from a security standpoint.

4. Ask for a month to month lease situation. Stress that a month to month lease is a "win win" for both you and the owner. Ask simply for as little as 2 week’s notice to vacate. Again, make sure you can live up to the agreement.

5. Financially speaking, present your situation as an opportunity to give the owner some cash flow (income) on the property while the home is for sale. But ask for a reduced amount in terms of monthly rent based on the above referenced conditions. Remember, you are creating a situation for the owner that benefits them as well as you.

Good luck to you and I hope this helps. For more information feel free to visit our web site at http://www.cornerstonenewhomesolutions.com or contact me at your convenience.

Stephen B. McClain Broker Owner
Cornerstone New Home Solutions

512 876-3116
smcclain@cornerstonenewhomesolutions.com
1 vote Thank Flag Link Thu Aug 22, 2013
Very rare. I am asked this all of the time on my listings... if the seller will rent. Its always a no. They wish to sell, and no longer be obligated to the house. Its rare as heck, but if you call around, you might find that one rare gem. Good luck
0 votes Thank Flag Link Tue Aug 27, 2013
That is not a question that can be answered generally. You would have to ask a potential seller if that is an option. It was more prevalent a couple years ago when more people owed more than their home was worth. Each seller has their own goals and motivations for selling just as buyer does for buying.

It can never hurt to ask.

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference: http://www.AustinListed.com
0 votes Thank Flag Link Tue Aug 27, 2013
It depends on the sellers. You may ask them and see whether they are willing to do it. Knowing how hot the sellers market now you'll likely get tons of "No" as sellers know the next offer is just right at their doorstep. Plus, most homeowners sell for a reason, that they need to get their money and move on or to purchase another property.

I would suggest that you work with a local realtor to help you find a property for lease or for sale.

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Sat Aug 24, 2013
Yes, But you must state that in the For Sale agreement that its rented for a year.
0 votes Thank Flag Link Thu Aug 22, 2013
sometimes, but you will probably hear a significant number of no's. If you are just targeting University Hills, it might be worth making some calls
0 votes Thank Flag Link Wed Aug 21, 2013
My guess is that after you spend about 10-12 weeks chasing a home that is for sale that will rent to you you'll give up. People sell their homes for a reason...they want to sell.

That said, has it ever happened? Yes.
0 votes Thank Flag Link Wed Aug 21, 2013
Occasionally that will happen, but it's pretty rare here in Austin these days with the market so active. Even the rental market is super active so if you're looking to rent for a year, secure the services of a Realtor to help you find what you're looking for. We don't cost you anything, as the homeowner pays the commission and you will get notice of houses when they come on the market, instead of just trying to play catch up by driving around or looking in undependable sites for homes. If you're not already working with an agent, contact me to discuss what you're unique needs are and how I can help you satisfy them. Good luck.

Ron Cullinan
Realtor, GRI, ABR, CRS, e-Pro, CLHMS
Avalar Austin
512-799-3239
http://www.austinonlinehomes.com/
0 votes Thank Flag Link Wed Aug 21, 2013
Hi, Cori.
Absolutely, owners will consider renting a home if it doesn't sell. The challenge is that few homes aren't selling in Austin at the moment. The housing numbers released yesterday indicated July hit a record - history being set - for sales of homes. If a home is for sale, the owner doesn't want it and a viable offer will start the transfer process.

If you are interested in a lease on a home for sale, look for properties that have been listed for sale for a longer time - perhaps a few months. If vacant, you'll have a much easier time with the pitch to lease. If occupied by the seller, it may be a longshot.

Good luck!

John Crowe, Broker
Keller Williams
0 votes Thank Flag Link Wed Aug 21, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer