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Tuesday, November 29, 2011

Tenant Placement Costs – Security Deposits Make People Think Twice

I am in the residential real estate sales business in central Brevard County Florida and not in the property management business.

Many of these owners are seasoned veterans who know the business well.  Occasionally I run into a rookie owner landlord. (You have to start sometime!)

Many times these landlords are accidental landlords.  That is, home prices in Brevard County are so attractive they opt to buy a new home and rent out the old home in the interim while they await a market rebound (it will happen).

With these new landlords I encourage a “make them think twice about leaving” security deposit.

I was speaking with someone this weekend who indicated they are going to purchase a home and when it happens they intend to just break the lease.  I am not an attorney so I did not offer any opinions in the legal sense but rather this one…

Why not consider a six month plus one day lease with an option to go month to month afterwards? Why not be upfront with the owner?

As a landlord, consider the amount of security deposit you collect upfront because not all tenants may be upfront with you?

If you are a property owner in central Brevard County who manages your own property, let me help you find the right tenant. 

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