Renting site unseen - Posted by Rich

Posted by Tim on April 11, 2005 at 15:52:45:

yes you will have to give them an account # but they will only be able to wire money in. If they were able to hack into your account and take money out illegally your bank should insure it. Check with your bank. But if your going to lose sleep over it just have them send you a certfied check or bank draft overnight couirer. Good luck

Renting site unseen - Posted by Rich

Posted by Rich on April 11, 2005 at 01:31:49:

We have a couple that are being transferred in the military to our area. They will not be here until 5/1 which is when the lease would begin. They want to rent the place site unseen. My concern is they will get here and not like it. Would you do this?

Thanks

Re: Renting site unseen - Posted by Killer Joe

Posted by Killer Joe on April 11, 2005 at 10:13:18:

Rich,

Not trying to imply anything negative here, just curious, how many other landlords do you think they have contacted? If I was one of them, you would just be ONE of many.

KJ

Re: Renting site unseen - Posted by dealmaker

Posted by dealmaker on April 11, 2005 at 04:31:45:

I would, but I might build in a 14 day right of recission at the cost of one months rent. Or a “subject to” option at the cost of 5 day’s rent. Perhaps structure it like people do with home purchases that have financing contingencies. In those cases the seller gives the “contingent” buyer 72 hours to make it a hard contract if they get another offer without the financing contingency. You could give them a 72 hour “physical inspection” contingency. If no one else offers on your place they don’t have a problem. If they arrive and don’t like it you at least got something out of it. Probably better than being stuck with an unhappy tenant making your life miserable.

Hotels, beach and ski resort condos are all rented sight unseen, no one questions the wisdom of that. Why? Because they’re for short-term. Anything is tolerable for a week or two.

Of course it all depends on how strong the rental market is!

dealmaker

Re: Renting site unseen - Posted by Rich

Posted by Rich on April 11, 2005 at 10:27:23:

I have thought of the same thing. I am not going to stop avertising yet. I am wating for her application to arrive in the mail.

Re: Renting site unseen - Posted by Rich

Posted by Rich on April 11, 2005 at 09:26:58:

So if I use the “subject to” option I would collect the cost of 5 days rent ($125) now to hold the place for them. If they do not like it they would forfeit the $125. Should I get them to sign a lease now with an addendum stating a 72hr inspection contengiency or when they show up on the 1st? Our rental market is awfuly slow right now. 2.5 weeks and they are the only ones that want to rent it so far that could possible qualify, and it’s a nice place.

Re: Renting site unseen - Posted by Fred

Posted by Fred on April 11, 2005 at 19:23:55:

If they are serious about renting your place (and you decide to get the money wired to you and are a little skeptical about it) they will not have a problem giving you their first seargents or supervisors phone number just to verify that they are who they are, that way if something wrong happens you have a way to reach them, and believe me they will not want their first seargent to know they messed up with your account.

Re: Renting site unseen - Posted by Tim

Posted by Tim on April 11, 2005 at 13:16:18:

I’ve rented to a family sight unseen. Just give them a good description of the property don’t sugar coat it at all. Never Never hold a property for somone with out money down. I try and get frst months rent or at least a half a month rent non refundable.Have them wire it. Also lots of times somone moving into an area has family or Friends or coworkers already living there you may sugest to a potential tenant to have somone look at it for them who has no reason to “SELL” them on it. good luck

Re: Renting site unseen - Posted by Rich

Posted by Rich on April 11, 2005 at 13:21:29:

I thought about having them wire the money. But to do that don’t I have to give them my account and routing number. Kind of nervous to give that to someone I have only talked to on the phone.