Rent the house to realtor. Good or bad idea?

5 Replies

Hi all,

Have any of you ever had experience renting a house to realtors. A realtor family approaches me to ask renting the house to his family of 4 before my open house. They want to move in before the remodel is done (We'll replace the old kitchen cabinets and countertop with a new one next week.). Saying if they have good credits, clean background, and income as claimed. Should I cancel the upcoming open house and rent the house to them?  They also run the property management for their clients. I'm not quite sure if it's a good idea to rent the house to pros. Thanks!

Why wouldn’t it be? Just be a decent landlord and you’ll be fine. If anything a realtor is probably going to take better care of your place.

Jordan Moorhead, Real Estate Agent in MN (#40542303)

Why would you not rent to someone based upon their occupation? That's just crazy. 

Hui
Don’t know why, but I have always had horrible luck renting to real estate agents??? I am a broker, so you would think that this would be a no brainer, but most of them work on limited resources and can’t take control of their finances. Now, we can’t put All Realtors in one basket, I think it has to be looked upon on a case by case basis and how long they have been in the business and can they produce the last three years of tax returns, if they can’t or they look “typed up” move on......

Kim Meredith Hampton, Real Estate Agent in FL (#BK0601196)
407-253-9324
Originally posted by @Hui Kiang :

Hi all,

Have any of you ever had experience renting a house to realtors. A realtor family approaches me to ask renting the house to his family of 4 before my open house. They want to move in before the remodel is done (We'll replace the old kitchen cabinets and countertop with a new one next week.). Saying if they have good credits, clean background, and income as claimed. Should I cancel the upcoming open house and rent the house to them?  They also run the property management for their clients. I'm not quite sure if it's a good idea to rent the house to pros. Thanks!

Luckily for you verifying their income won't be difficult. Have them bring you their last 5 years of MLS statistics. If they show a consistent business then I think you will be ok. If they are not consistently hitting enough sales to cover their bills they are just like any other self employed person with unreliable income.

James Wise, Real Estate Agent in OH (#2015001161)
216-661-6633

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