I moved out of my Alaska house last winter and rented it out. Now it's winter there and my tenant moves out next month. I have my ad on hotpads, CL, Trulia and had two showings and one more today but no luck getting a lease signed yet.
I'm thinking about emailing realtors in the area and offering a 500$ incentive to find tenants. It's a great house and location but it's winter now. I should have had them sign a year and a half lease. I'm thinking of signing a 6 month lease this time and resign a year lease after that. It's a 2/2 with heated garage in a great area. The incentive for realtors would be a better alternative than property management they charge a arm and a leg. Any other suggestions?
AirBnB is not an option because I'm not local.
I agree with your idea about a 6 month lease. When my husband and I were renting we were on a 12 month lease cycle which renewed in August every year. Signing a lease in summer is highly competitive. Maybe short term lease your house until march and then find seasonal workers to rent until a 12 month lease option is better.
I just rented my house about 3 weeks ago. It also took longer than expected. I did the contract for 6 months to avoid renting on the winter months.
I would either hire a real state agent (I payed $1000) to help with the placement or give a discount on the first month's rent.
Question, if you're away from Hawaii, how are you doing the showings?
Term of lease has little to do with when tenants decide to move. Most do not respect terms and will leave when it is necessary or suites their fancy. Never rely on a term lease for security as it actually allows the tenant far more security than it does the landlord..
Join the Largest Real Estate Investing Community
Basic membership is free, forever.