Ever do a STR through/for an insurance company?
I have a 3 br/3 bath unit that we just renovated and have listed up for rent...have had a TON of interest with 8 applications even before the first open house.
I just got a contact from a company that does placements for an insurance company ....they place clients that have been displaced due to damage to their homes. They are looking for a 6 month lease and then possible M2M....they state they pay a "premium" for the rent (waiting back to see what that means)
So....anyone done this type of short term deal through an insurance company?
Hate to commit to a short term lease..... turnover is a PITA....but if the $$ is worth it, I may consider it...
PRO
Rent is paid by insurance company, not individual....more reliabke I would hope
Higher rent and deposit....not sure how much yet
CON
Guaranteed turnover in 6 months or so..I'm in CA, so doing placement in Dec isn't a huge deal but not the best time
Turnover cost $$...so it may not pencil out as a big $$ gain
Screening...... guess I still do the background, but the other criteria is really on the insurance Co
Someone that knows they are short term in the unit are less likely to take care of it
Insurance companies can be a PITA to deal with.....
Any experience or input would be great