What is the best way to find a rental property? I would like to find a place to rent on a monthly basis so I don't have to commit to a year long

Asked by Ginnie Carey, 19020 Mon Mar 28, 2011

lease I am living in my marital home with my estranged husband. The house has been on the market for 7 months with no bites. I don't want to commit to a lease in case the house sells freeing up money to purchase a home. I hear of people renting places on a monthly basis but darned if I know how to find them.

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Kenneth Verbeyst’s answer
Kenneth Verb…, Agent, PRINCETON, NJ
Mon Mar 28, 2011
Ginnie , often month to month rentals take place after the innitial lease term ends. (by mutual agreement between landlord and tenant) Most landlords want full year leases due to the costs involved in placing tenants. They normally pay fees to both listing agent and agent representing tenant. They usually must get a certificate of occupancy which again comes with fee. They may have to paint or make minor repairs such as repairing of screens for windows,cleaning carpets...How is your credit? Many people are reluctant to lease because of how difficult it is to get short term tenants out. Speak with your attorney before moving out as you may create new problems. If you are intent on moving, I suggest you decide where you want to live and start by making enquiries of friends or relatives in the event they know of anyone looking or thinking about looking for tenants or house mates.
0 votes
Brian Luce, Agent, New Hope, PA
Mon Mar 28, 2011
Hi Ginnie,

75% of my work is commercial real estate but I've done quite a bit of residential in Bucks County over the last 12+ years. Nothing stops your agent from contacting some of the rental listings in the MLS to inquire about a month to month listing. Especially if they have been on the market for awhile.

When it comes to an investment property like a rental, every month the owner does NOT have a tenant, is a month they can NEVER get back as far as revenue. We do this in commercial "every now and again" (however a short term rental for us may be 1-2 years instead of 5-15+ years.

I've noticed that some residential agents don't seem to want to ask (or don't consider it). In addition to the great tip regarding Craigslist below (and of course the local paper), have your agent ask if a month to month may be possible.

In the eyes of an owner, a nice solid, well qualified, tenant for a few months is much, MUCH better than no tenant at all, for same time period.

If you can't find someone to ask, I'll ask for you....

Hope that helps.

Brian Luce ABR, SRS
Weidel Realtors - Doylestown
215-348-5600 x 163
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Mar 28, 2011
Best option is an extended stay hotel

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes
Christopher…, Agent, Tarrytown, NY
Mon Mar 28, 2011
Hi, check out http://www.craigslist.com, it's one of the most used sites all over the world. Just go to the site and look for your state, then your town or city. You can also search for "for rent by owner" rentals ifd you don't want to pay a broker fee.

Good luck!

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
Web Reference:  http://raveis.com/chrispagli
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