How do i find a homeowner who's willing to rent their property until it sells?

Asked by Brittany Williams, Zachary, LA Tue Mar 8, 2011

I'm having a hard time finding a rental home in zachary and see so many empty homes. How do i go about asking perspective sellers if they would consider renting their homes until they sell? I know some people might want to get a new home but can't afford 2 mortgages, i could live in the home and pay per month until it sells.

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Ron Thomas, Agent, Fresno, CA
Wed Jul 20, 2011
Don had some good ideas, you might try them.

Not to rain on your parade, but you may find that;
1. a lot don't want to be landlords
2. they are afraid that the house will not be in the same condition later,
3 having a tenant in it will make it harder to show, and harder to sell
4. they may be worried about getting you out when it sells
5. they may be worried about you continuing to pay, once you're in

good luck and may God bless
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Don Tepper, Agent, Burke, VA
Tue Mar 8, 2011
Just ask. What's the problem?

Here's a script: "Hello, Mr. Homeowner. I see that you've been trying to sell your property, but it's been taking awhile. And I imagine that writing the check for the mortgage every month on that empty house hurts a bit. I've got a proposal that I think would help you. I'd like to rent your home on a month-to-month basis. That way, you'd be getting rent every month, instead of just having an empty, vacant house. Further, you'd have someone in the house, taking care of it, keeping it clean, having it be occupied, not vacant. And when someone wants to look at your house to buy, what they'd see is an attractive, occupied home. And--ask your agent--that is much more appealing than a vacant home."

I actually know someone who does that full-time. He's a friend of my son, and does it with upscale properties in Florida. The kid's 21 years old and living in multi-million dollar mansions. In his case, he works with several real estate agents who know the benefits of an occupied and well-maintained home over one that's vacant. That'd probably be the best way to do it in your case, too. The script for a Realtor would be similar:

"Hello, Ms. Realtor. Homeowner. I see that you have a number of vacant properties you've been trying to sell for a while. And I imagine that your clients aren't happy about writing the checks for the mortgages every month on their empty houses. And I don't have to tell you that a clean, occupied home is more attractive to buyers than a vacant one. I've got a proposal that I think would help your clients and help you sell those homes, without any cost or effort on your part. I'd like to rent one of your listed vacant homes on a month-to-month basis. That way, you client would be getting monthly rental income, instead of nothing. And you'd have a house that would be clean and occupied. And when someone wants to look at your listing to buy, what they'd see is an attractive, occupied home. Which of your listings do you think this would work best for?"

Hope that helps.
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