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Rental Basics in Jupiter : Real Estate Advice

  • All205
  • Local Info22
  • Home Buying61
  • Home Selling14
  • Market Conditions9

Activity 4
Sat May 28, 2016
Sonfulsonja asked:
Tue Jan 26, 2016
Susanna Malmgren-Grubb PA answered:
Dear Sue,
I doubt you can find anything for that price in peak season. Try JORC like Tom said or Jupiter Bay Rentals, just north of the Bluffs, they're one of the few communities that may have something left and allow 30 days. Call them directly or I can email you the listings. Glad to have you in Jupiter!
Susanna Malmgren-Grubb, Coastal Sotheby's Int'l Realty, Jupiter, FL
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Thu Mar 8, 2012
Courtney Smitheman answered:
Depending on the term of the lease and if you are financing the property, a first right of refusal to purchase the property written into the lease may make more sense. Today's value may not be the same in 6 months or a year and you could be held to a purchase price that is agreed to at the beginning of the lease option but not current market value.

In some cases, with a lease to buy contract or lease option the teant pays a higher rent rate for the "option" to buy with credit $$ back from the landlord when you purchase. If you don't purchase, the landlord keeps the money. For example if the rent is $1000/M for an annual lease, the landlord would charge $1200/M x 12 months and provide $200 x 12 or $2400 back you for a down payment or closing costs. But if you don't purchase, you don't get that money back. The landlord keeps it.

Either way, as the tenant you should have your attorney (not the landlords attorney) review the lease to buy contract. (lease option).
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