Renting for sublease

[Jake Greener]

Hey guys,

I am currently talking to a variety of home and condo owners in the Orlando, Florida area about renting their property for 6 months or more. As I do this, I would basically sublease the property to a management company who will have families visiting Disney World stay at “my rental.” I have ran the numbers with my peers, real estate agents and a couple mentors which all seem to check out.

However, I’m not sure if I can qualify to rent these areas.

I have not been working for 2 years, held a credit card for more than a year, etc.

I have the cash amount to rent this place but as a student without any history how do I qualify?

[Travers Xanthos]

@Jake Greener I would have to politely disagree with the other posts on this thread.  I have 20 properties that I have been utilizing the "Rental Arbitrage" model in for about 3 years.  It is certainly possible to have success with this, you just have to be smart about where you invest and how you run your listings.

If I were you, I would manage the communications aspect of the listing myself.  If you did this, then all you would need to do is hire a competent cleaning company and negotiate a deal with them to be your onsite help (if you do not live in the area). In this case, you would be saving ~20% of revenue for a Property Management company and simply paying your onsite helper by the hour when their assistance is needed.

In regards to your question, you might not need a long credit/employment history and don't let that hold you back.  Go find a place that makes sense financially, pitch the landlord, fill out the application and see what happens.  If you had a job as a bus boy in high school, use it!  It doesn't matter.