Post # 1
My husband and I are currently living in a condo that we own. We want to buy a new house. We have one that we like a lot it has a lot of potential and could be great. We are going to look at a new development this weekend so we pretty much have two great options. We listed our condo for rent to see if we could break even on it since the market is too low to sell. We have someone interested willing to pay full price, however we they want to move in earlier than we had planned. We were planning to rent in two months they are looking for less than a month from now! Which option would you choose?
1: Rent the condo for full price and find temporary housing (we have no friends in the area with room for us so it would have to be a month to month rental) until we either finish the new build or close on a house.
2: Pass on the current renter until we are sure we have a house and closing date even it means taking a loss on the condo each month if we can’t rent if full price later on.
Post # 3
We had a similar situation and I really think it depends on your renter, if you feel they are a good quality renter then I would take them!!! Our renter pays 2 months in advance, first 6 months was in advance and he has lived in our condo for over a year and we have yet to have ANY issues.
However, if you feel the renter is questionable then I would consider passing giving the extra money it may cost you to find temporary housing and any issues the renter may have.
Post # 4
If you feel pretty good about the local rental market I’d pass. I wouldn’t want to move twice.
Post # 5
I think I’d try to find temporary housing of some sort. It seems to risky to me to turn down a great renter.
Post # 6
Thats the problem Lgenz we aren’t sure about our rental market, we are near a college but dont want to rent to undergrads so its a little more limited. We are meeting the potential renters soon so if they are as good as they sound we are going to see what our temp options are. Luckily we live in a popular summer vacation spot so winter rentals shouldnt be too hard to find. Moving twice will be tough but doable. I guess it will be our first real test as husband and wife, can we not kill eachother in a tiny rental for a few months!!