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reluctant new landlord?

any advice for me i'm goin to have rent my condo in vt and go stay with a friend where i can find work several hours away. I am goin thru a real estate agent ( whom i trust ) as opposed to just listing online in paper does this approach make sense and who usually pays the fee tennant or owner

Plan is to put it up for sale and at same time if rents first the lease til apr and put back on market does this sound valid

2 Answers

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  • 1 decade ago
    Favorite Answer

    Listing with realtor means some one else will show your place, write lease, and do that stuff for you, and YOU pay them for their services, Usually First month's rent right to them.

    Renting it out and listing it for sale at same time are problematic. Who wants realtors waltzing through with buyers while they're living there? What is their incentive to cooperate with showings by having place looking "perfect"?

    If you enter into a lease, that is transferred to buyer, and if buyer wants to occupy it for home, that's a problem.

    If you're going to have a manager to handle renting then check around because although the fee of a month is pretty standard, what they do for that fee varies. Some find renters, do lease, arrange for routine maintenance, etc. You may get a better deal by doing a package of rental/listing, but check it out. OR you can do it yourself with Craigslist and form lease.

    With renting, you don't have to do a 1 year lease, can do month to month, 6 months, whatever. But to be fair to renters, you need to consider an incentive to them for their cooperation, such as a restaurant certificate for when there's an Open House. AND you need to make sure the realtor gives them AT LEAST 24 hours advance notice, as some realtors run roughshod over tenants.

    Source(s): Number One Rule for Landlords: Be FAIR, it Never pays to be Nice!
  • Anonymous
    1 decade ago

    The owner would pay the fee to the agent. It is usually just a % of rent. The advantage of having an agent is that you do not have to deal with the finding or screening of a tenant or any of the day to day management. Also, they know the laws and what they can and have to do.

    Sounds like a plan. A lot of people are renting out their places until they can sell.

    Source(s): I'm a property manager
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