Make Short Term leases make money for You
Smart Landlords, or those who have savvy property managers or agents guiding them with seasoned advice, know how to take cook short term leases.
I routinely run across 3 primary situations for short term lease opportunities in the Indianapolis and Carmel rental markets:
- “We need to lease short term because we are building a new home.”
- “We need to lease short term because we are new to the area and want to buy a home soon.”
- “We had a fire/flood/tornado/Act of God at our current home and our insurance company is paying for us to rent something short term.”
Each situation can make you money and fill a vacancy, but only if you look at the multiple factors properly. To quote the famous line from Animal Farm, not all pigs are equal, and not all lease deals are equal either.
Monthly rent premiums, time extension options, property reconditioning expenses, and multiple leasing commissionsare only some of the factors to weigh.
When the scales are in your favor as a Landlord, however, Ohhhh how good that bacon tastes on short term lease deals.
Go make some money today!