 Student Vacancies (by Laura [AZ]) May 6, 2012 6:46 PM
 Student Vacancies (by Kyle [IN]) May 6, 2012 6:53 PM
Student Vacancies (by in [IN]) May 6, 2012 7:17 PM
Student Vacancies (by Ellen [ME]) May 6, 2012 7:28 PM
Student Vacancies (by proofstyle [PA]) May 7, 2012 4:39 AM
Student Vacancies (by Smokowna [MD]) May 7, 2012 5:03 AM
Student Vacancies (by Keith [AL]) May 7, 2012 6:52 AM
Student Vacancies (by Barb [MO]) May 7, 2012 7:14 PM
Student Vacancies (by Laura [AZ]) Posted on: May 6, 2012 6:46 PM
Message:
State Specific Question About: ARIZONA (AZ)
We have a rental in a university neighborhood two blocks from campus and were just notified by our tenant that he's leaving for the Summer to accept a temporary Summer job with the government.
He has been an excellent tenant; quiet, clean, responsible and paid his rent on time, which was $925/month for a studio. He indicated that he would like to rent our guesthouse again when school starts up in August if we haven't found anyone else for the summer.
Since summer student tenants are hard to come by, I'm wondering if any of you have cut deals with tenants who are leaving for the summer but want to re-rent for the Fall semester. We like the flexibility of month-to-month leases but see the downside when it comes to Summer.
Any suggestions as to how we might incentivize him to keep renting this summer? We're novices and don't know what would be an acceptible practice in this case.
Thanks in advance for your feedback.
--174.18.xx.xxx |
Student Vacancies (by Kyle [IN]) Posted on: May 6, 2012 6:53 PM
Message:
In my town, the standard is for student leases to go through the summer. The town has already emptied out since finals ended Friday, but the houses are still leased and rents will be collected through the summer even though most the students moved out. If you don't want to stay MTM and avoid a lease, maybe you could offer a reduced summer rate to him, but you would probably have to get the rate pretty low since he has to move anyways and paying hundreds of dollars a month for some storage and convenience is a lot to expect. --71.194.xxx.xxx |
Student Vacancies (by in [IN]) Posted on: May 6, 2012 7:17 PM
Message:
At $925 a month you have lots of room to give him a break,
Indiana is a little cheaper, our lease are for 12 months, and the student can find a sub letter..
Split the difference, you have a good deal going. --98.253.xxx.xxx |
Student Vacancies (by Ellen [ME]) Posted on: May 6, 2012 7:28 PM
Message:
Could be an opportune time to do some big maintenance project in the unit that you might otherwise have to do while vacant, give him a big break on the rent by several hundred dollars. Could make it a win-win for both of you if there was something you'd been thinking about doing. Just a thought if you really like him and can afford to do it. --64.222.xxx.xxx |
Student Vacancies (by proofstyle [PA]) Posted on: May 7, 2012 4:39 AM
Message:
In our college towns the students have already signed for next year. Give away the summer if that gets his signature now! --68.83.xxx.xx |
Student Vacancies (by Smokowna [MD]) Posted on: May 7, 2012 5:03 AM
Message:
MTM with students would not work.
Fall semester is already penned. You may want to advertise now and see if you get somebody in for August. My lease would be August through July however there are June through May leases (not as good if you ask me).
--173.66.xx.xx |
Student Vacancies (by Keith [AL]) Posted on: May 7, 2012 6:52 AM
Message:
Chances are its going to take you ~ 2-3 months to get a new renter anyways. I would offer him a holding option for $200 a month. He will be back in 3 months and you will have peace of mind about having a decent tenant. A little of something is better than all of nothing. --166.147.xxx.xxx |
Student Vacancies (by Barb [MO]) Posted on: May 7, 2012 7:14 PM
Message:
I like my June 1 to May 30 leases with students. The semester isn't quite over yet by May 1 - finals may be that week or the next week. The new leases start June 1. If they want to have a place to move into in August for the semester to start, they will pay June and July.
For the situation here, I'd offer a nominal rent for the summer to keep a good tenant. Maybe 1/3 to 1/2 for the 2 months he will really be gone. --216.229.xx.xxx |
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