Renting

badmomma · #1 05-07-2008, 11:52 AM

As I was driving to town the other day I noticed a for rent sign.
This one caught my attention because it said free heat. In a state
like michigan this is a great deal. I wonder however how much the
rent would be.
Propane prices are running up about as quickly as gasoline prices.
I struggle all winter to keep my house warm and the tank full.
This landlord has the right idea but how long will it be before he
has to raise the rent.
I love incentives like the one mentioned above but am concerned
for the well being of the people who are landlords and tenants in
this situation because of the current fuel trends.

JaredfromIndiana · #2 05-07-2008, 03:21 PM

He probably already raised the rent.

I'll give you a free car if you buy my house. With "free" car price: $150,000. Without "free" car price: $130,000. You with me?

missmanors · #3 05-08-2008, 12:51 AM

I agree that the landlord probably raised the rent before he put up the sign, but even if he did he could end up on the short end of the deal if the price of heat keeps going up at the current rate. We'll never know for sure I guess, lol.

flip_it_fast · #4 05-08-2008, 05:13 PM

It's quite possible that the landlord has calculated the cost of heat into the rent price. You never really know though, maybe this man is well-off enough to provide the free heat and just wants to help a family out. I guess I must be feeling a little optimistic today!

JaredfromIndiana · #5 05-08-2008, 10:03 PM

Quote:

Originally Posted by flip_it_fast

It's quite possible that the landlord has calculated the cost of heat into the rent price. You never really know though, maybe this man is well-off enough to provide the free heat and just wants to help a family out. I guess I must be feeling a little optimistic today!

LOL, you do seem optimistic!! Here is a quote I never understood until recently. "In this business, no good deed goes unpunished", thats a Michael Rossi original.

badmomma · #6 05-09-2008, 06:03 PM

There are of course risks when making an offer of this sort.
But with proper planning he should be able to cover the
heating costs. I have seen the for rent sign posted for
several months and this was the latest addition to the
sign. He like everyone else is probably struggling and
needs the extra income. Any incentive that he may
offer may get it rented and get that income rolling in.
Yes all positive moves have a potential negative side.
However every negative can in turn have a positive spin
to it too.

flippinout · #7 05-09-2008, 08:33 PM

I have also heard of people that have rented a house or apartment that need a good cleaning and a few minor repairs and the landlord offered a couple of months to the potential renters for doing this work.

That kind of offer may be harder to come by these days, but when you consider the cost of paying a cleaning service, or contractor, this might actually be cheaper for the landlord in the long run.

JaredfromIndiana · #8 05-09-2008, 09:09 PM

I don't think I would ever let a tenant do any repairs. What happens if he falls off the ladder when painting? Who do you think he is going to come after?

hometowngrl53 · #9 05-13-2008, 02:27 AM

I would think if the landlord was making a offer for the tenets to do
repairs of cleaning for the deposit or first month rent then i think the smart
thing is to each sign a legal paper saying that the landlord is not to be held accountable for injury if it occurs during this process

badmomma · #10 05-15-2008, 10:24 PM

Well you all have good points here. If you make an aggreement
with a potential renter for this sort of work you of course have
to protect your self from personal injury suits. Get a contract
drawn up and have it notarized or take it to a lawyer to be sure
how to make it valid.
I would suggest this in any case because you may not need it for
any injuries but you may need it if you have problems with the tenants
later. Say they do damage to the home and then you have no money to
cover the damages because you made this aggreement.
You need to cover all you bases. Check with your lawyer and make sure
that potential problems in the future are covered. You don't want the fact
that they made repairs before moving in to release them from damages that
they may do themselves. Get pictures of before and after the repairs and then again after they move out. Make sure that you have the appropriate signatures and witness's ecetera. Good luck and happy renting.