Advance ETF
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Advance ETF (by Plenty [MO]) Feb 10, 2019 7:17 PM
       Advance ETF (by Robert J [CA]) Feb 10, 2019 8:00 PM
       Advance ETF (by Vee [OH]) Feb 10, 2019 8:32 PM
       Advance ETF (by JB [OR]) Feb 10, 2019 9:47 PM
       Advance ETF (by Robert J [CA]) Feb 10, 2019 10:08 PM
       Advance ETF (by plenty [MO]) Feb 11, 2019 4:58 AM
       Advance ETF (by John... [MI]) Feb 11, 2019 6:30 AM
       Advance ETF (by plenty [MO]) Feb 11, 2019 7:00 AM
       Advance ETF (by WMH [NC]) Feb 11, 2019 7:27 AM
       Advance ETF (by John... [MI]) Feb 11, 2019 1:58 PM

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Advance ETF (by Plenty [MO]) Posted on: Feb 10, 2019 7:17 PM
Message:

Has anyone asked for ETF at the time of lease signing? When offering a two year lease also requiring 1st months rent, deposit and ETF in advance. This would be for a higher risk tenant, not risk of damage but due to high possibility of leaving early. ETF would be refunded perhaps at end of 2 year lease. Just thinking of terms to help qualify tenants with $ but lacking long term work history or in occupations that may require them to leave before 2 year lease ends. Cant be predicted. I find i can not hold them to pay this fee with my paperwork. Just thinking. Comments? --99.203.xx.xxx




Advance ETF (by Robert J [CA]) Posted on: Feb 10, 2019 8:00 PM
Message:

I play it differently. If a tenant makes all of their rental payments on time, then they get the 13th month free upon signing a new 1 year lease. I ask an above market rate, with the discount in mind. --47.156.xx.xx




Advance ETF (by Vee [OH]) Posted on: Feb 10, 2019 8:32 PM
Message:

I have not heard of a lease past 12 months, in residential properties.

--76.188.xxx.x




Advance ETF (by JB [OR]) Posted on: Feb 10, 2019 9:47 PM
Message:

I really like the idea of getting this up front. But it seems so hard just getting a month's rent and a significant deposit that I'm not sure how feasible it is. I have done a couple of two year leases. --24.20.xxx.xxx




Advance ETF (by Robert J [CA]) Posted on: Feb 10, 2019 10:08 PM
Message:

I have many applicants that are from other states that move to Southern California for their employer. They want to live in a good area central to Los Angeles. From Downtown to Westwood and from the Marina to the Valley. I have such grade "A" properties -- large 3 bedroom 3 bathroom units. After moving across the country, they don't want to rent for only 1 year then have to move again or get a huge raise in rent. I even had some that wanted a 3 to 5 year lease. --47.156.xx.xx




Advance ETF (by plenty [MO]) Posted on: Feb 11, 2019 4:58 AM
Message:

So when that bump in the road comes I can say here are the options... fulfill the terms of the lease, exercise the ETF ( which i hold ). Basically the same as i can offer them now with 5 days pay or quit notice.... which I'm currently not getting paid cause they dont have the money to pay it at exit and they dont have rent or we wouldn't be talking and they are not quick to move. Which cost me time and money. If the incentive was they could get that back ( essentially cash for keys) it would be their own cash and not mind. Just thinkin --99.203.xx.xxx




Advance ETF (by John... [MI]) Posted on: Feb 11, 2019 6:30 AM
Message:

In my state, this would be considered an additional security deposit and would put me over the state-defined limit of 1.5x the rent.

(In your state of MO, the limit is 2x the rent, so I suspect it might put you over the limit also.)

- John...

--24.180.xxx.xxx




Advance ETF (by plenty [MO]) Posted on: Feb 11, 2019 7:00 AM
Message:

John. It would be a held as a fee. But yes if i it refundable then maybe considered a deposit. Suppose careful wording would be necessary and pethaps it would have to he applied in a slightly different amount like $1 more ... thanks for all the comments. Just thinking --99.203.xx.xx




Advance ETF (by WMH [NC]) Posted on: Feb 11, 2019 7:27 AM
Message:

Why not just call it last month's rent? If they leave early, you have that to cover you for a month? Plus Security? --50.82.xxx.xx




Advance ETF (by John... [MI]) Posted on: Feb 11, 2019 1:58 PM
Message:

Plenty: Indeed -- you may be able to word around it in your state. In mine, it is very specific that ANY pre-payment like that is considered a "deposit" and counts against the 1.5x limit. So, we couldn't do it here.

- John...

--24.180.xxx.xxx



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