Good day all,
Not sure if I'm doing this right. This is my first forum ever. I imagine if anyone could help with my recent biggest question, you guys could. Here it is.
so I recent successfully put my home up for rent, and it did. my dilemma is that I will need to move out by the 25th. my new home is under construction. It is due to be complete 30 sept. I will need a place to my my family till then.
I do not have too much funds on hand as I will need to provide 10k at closing. Please help. all your ideas of with a mention. Thank you advance.
PS. glad to have my first rental.
@Troy Kerr Welxome to BP! Did you find a tenant yourself or did you use a property manager? Do you have family near by? It seems silly to get a hotel, however; you can try to talk to the tenant so you can stay longer... Why isn't he moving in the 31 or 1st? Did you prorate the rent for him?
Thanks for the response. I do have a property manager. I was so excited to have the property rented I was not worried about the moving date. The renter has extended to the 25th. The original date requested was the 20th, which I did agree to. Seem unprofessional to ask more.
I could return the deposit, and lose the tenant. That would be another ordeal. I am attempting to push up the closing date. Ill assume the new construct will not be done on time, never less early. my broker is trying his best.
the Closest family to me would be in NC. my sister is in Durham. I have been thinking of sending my wife and son there for the time. then possibly rent a room from a friend for a short time.
Tell me what you think.
If it has already been extended from 20th to 25th then it would be unprofessional to ask for more. It is a tough position because ideally you would have set the rental start for after your new home closing. It would also be unprofessional to back out of the rental even if returning the deposit - but that is an option and you could always get a new tenant after the closing. I would honor my obligation to the tenant and stay with family until the new home closing, but I have family in many states with whom I'd be welcome. What is the cost of an extended stay hotel for the needed period of time? Anything on VRBO or AirBnB for a cheap off season 1 month home rental?
great idea, I will do the research and update you guys tomorrow. thanks.
today at work someone recommended PODS to me. Called them up. Total cost for storing, pick up and delivery, a thousand all together! I think that's a win. Then, Extended Stay quoted me at 650 for a ten night stay, with military discount. that 1650 all together.
now that's a bit of piece of mind. And its the best I can do. I think? I wouldn't mind a cheaper place to stay, but then there is safety to think about.
There is one other thing. On the rental agreement the starting date is 1 Oct 15. Is this the actual move In date? If not, how do they differ?
@Troy Kerr have you looked at billeting on the base? Norfolk is a big base and should have some Navy Lodging nearby. I usually stay at Air Force Inns and they will charge me about $50 a night for a 3 bed 2 bath home fully furnished.
will give that one a shot tommorrow. Again thanks for all your great ideas.
your rental agreement start date should be the move in date. There should be a pro rated payment for the few days in September, typically the monthly rent divided by number of days in the month multiplied by the numbers of days they are staying. On top of that, they should be required to pay Octobers rent as well. If they are moving in on the 25th of Sep and only paying for the month of October, you need a new management company or to at least have a discussion with them about that. Without seeing your lease I don't think anyone can actually answer the question you have about move in date. Make sure you read and understand the lease that you have in place, don't assume the property management company will take care of everything. There are some bad ones out there.
Will do william, thanks.
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