What is this all about?
After you fill out a form by clicking
this LINK or giving us a call, we’ll go over each lease program
and work with you to figure out which one is appropriate for your
situation. We’ll then evaluate the house and decide if it fits one
of our leasing programs. We’re only interested in houses in good
neighborhoods that don’t need a lot of work. The lease we sign, will
give us the right to sub-lease. Houses in great neighborhoods
attract good tenants. We want to make sure your home meets our
criteria for the kind of good tenants we have in our database. Our
screening process is very tough. We’re professionals with an
existing portfolio of rentals so we have a team in place to obtain
great tenants, collect lease payments and get repairs done by
reliable handymen at discount prices.
We have two options to choose from
when leasing to us:
Performance
Lease –
Simply put -- when we get paid, you get paid. We lease the house
from you at a fixed price. When we get the lease payment for that
particular month, the fixed amount is paid to you. In most cases, we
take care of any repairs under $75 so you don’t have to worry about
annoying calls for minor repairs.
Master Lease
– Simply put -- you get paid, whether we get paid or not.
Whether the property is vacant or not, you’re sent a lease payment.
If you want to get paid every month with no calls about minor
maintenance and upkeep, this is the option for you. With this
option, we’re responsible for the first $175 in repairs. This is a
lot more risky for us.
How are we all compensated?
Being that we have the right to
sub-lease the house to another tenant, we get paid the difference
between our lease payment to you and their lease payment to us. We
make our money from the spread.
How do we receive our payment?
Our most common way of making payments
is depositing the funds into a bank account of your choice or
directly to the mortgage company. We can also send a check via mail.
With the new technology, we’re open to using PayPal, etc.
Can’t I just lease it myself?
Of course. But do you want to deal
with all the hassles? Are you familiar with tenant-landlord law?
This is our business and we know the rules and everything involved
when dealing with tenants. Working with us, you never have to deal
any of those issues.
We’ve heard many stories of
inexperienced landlords leasing to deadbeat tenants they could have
avoided had they made one phone call. Deadbeat tenants are those who
prey on unsuspecting amateur landlords.
Why would we work with you when there are hundreds
of property management companies around?
You’re welcome to work with a property
management company, but keep in mind that they won’t do the
following:
But they will:
How would you handle it if a tenant trashed my
house?
Because
of our screening process, we rarely have any issues with tenants. We
require a substantial upfront-fee to lease our homes. We use those
funds to clean up and repair the property, if needed. We make all
the arrangements and use trusted handymen who give us discounts
because of our ongoing relationship. Remember, with either option
you chose, we pay the first $75 or $175 of repairs after our
upfront-fee is used.
What will happen if the tenant doesn’t pay?
This rarely happens because of our
strenuous screening process. At times, we encourage tenants NOT to
lease from us because we’re so tough. Before learning that good
houses in good areas attract good tenants, we had a couple
evictions. Now we know what to do and how to screen to avoid
deadbeats. If you chose our Master Lease option, you will get paid
on time, no matter what – even if the tenant doesn’t pay us.
Will I get calls at 3:00 a.m. because of a broken
toilet?
Never! That’s why you’re working with
us. The tenant will only have a direct line to us. They won’t even
know who you are or how to contact you. As far as they know, we’re
the landlord. And to give you even more comfort, we’ve never
received a call at 3:00 a.m.
How long is our lease agreement with you?
Depends, but our typical lease is 5
years with the right to renew at the end of the lease term. With the
way the market is, most folks we do business with are delighted to
have guaranteed payments each month; especially those who have been
trying to sell for months.
Will the tenant ever buy the property?
Most of the time the tenant actually
wants to buy the house but needs time to clean up their credit
and/or save money. This could be a quick way for you to find the
buyer you were looking for in this down market. If you’re interested
in having the tenant buy the house, let us know and we’ll tell you
some of the programs we have to help them qualify.
What if we’d like to move back in at some point?
That wouldn’t be a problem. At the end
of our lease term, you could move back in without an issue.
What if my monthly payment is higher than the house will lease
for?
This happens from time to time with
the houses we lease. ‘We’ll lose you less’!
If your payment is $1,000 a month, which is better, having it rented
and occupied at $800 a month, or vacant at $1,000? An occupied
house where the tenant is keeping things functioning, maintaining
the yard and paying majority of the mortgage payment is probably
best. We’ll stop the
bleeding, with either of our two options – Performance
or Master Lease.
How can I "Kiss My
House Payment Goodbye?"
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