Rental Discount
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Rental Discount (by Jennings [IN]) Mar 15, 2019 4:10 PM
       Rental Discount (by Frank [NJ]) Mar 15, 2019 4:37 PM
       Rental Discount (by Pmh [TX]) Mar 15, 2019 5:06 PM
       Rental Discount (by Vee [OH]) Mar 15, 2019 5:58 PM
       Rental Discount (by AllyM [NJ]) Mar 15, 2019 6:16 PM
       Rental Discount (by myob [GA]) Mar 16, 2019 4:44 AM
       Rental Discount (by nhsailmaker [NH]) Mar 16, 2019 6:03 AM
       Rental Discount (by NE [PA]) Mar 16, 2019 6:06 AM
       Rental Discount (by myob [GA]) Mar 16, 2019 6:57 AM
       Rental Discount (by NE [PA]) Mar 16, 2019 7:07 AM
       Rental Discount (by WMH [NC]) Mar 16, 2019 8:20 AM

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Rental Discount (by Jennings [IN]) Posted on: Mar 15, 2019 4:10 PM
Message:

Currently renting a 3BR/2BA house with 2 car detached garage for $950 per month. Tenant text me and ask if he would pay rent a year in advance would I give him any discount.

I have some Class C properties that people pay a year in advance when they get their tax refund but they have never asked for a discount.

Question. Would you give a discount on this $950 per month property? If not, why and if so how much of a discount would you give.

Appreciate your thoughts. --68.38.xx.xx




Rental Discount (by Frank [NJ]) Posted on: Mar 15, 2019 4:37 PM
Message:

I might do this after very carefully looking closely at my State regs.

We did this with our second T a few years back. He presented well, was a CPA with a daughter going to the local Univ.

Our screening protocol was not so great and I later discovered that he had a fairly recent bankruptcy in his background.

Also, the question was raised that taking a year up front possibly could have been considered as a deposit which we are not permitted to take any more than 1 1/2 months.

Tread carefully and continue to screen.

P.S. our guy was great and VERY VERY little wear on the place. --74.105.xxx.xxx




Rental Discount (by Pmh [TX]) Posted on: Mar 15, 2019 5:06 PM
Message:

how do you evict in IN if rent paid up front ? --166.137.xxx.xx




Rental Discount (by Vee [OH]) Posted on: Mar 15, 2019 5:58 PM
Message:

PMH-TX, prolly evict for a lease violation like unauthorized pets, lawn parking, busted window, criminal activity or door lock changed. Something a conscientious manager/owner would not pay for.

But the discount would apply to month 13 if it went this far.

--76.188.xxx.x




Rental Discount (by AllyM [NJ]) Posted on: Mar 15, 2019 6:16 PM
Message:

I would never take a full year's rent as I may need to remove the person if they cause trouble. Might be difficult if they are paid up for a year. Or maybe they don't want you around to see what they are doing. --173.61.xxx.xx




Rental Discount (by myob [GA]) Posted on: Mar 16, 2019 4:44 AM
Message:

Ally one reason you won't evict is for none payment. That doesn't mean, because they paid in advance, the rest of the lease is void.

The paid one year needs to have a lease change. The change needs to be what the full amount is with a term of tone year with no mention of rent amount paid monthly--- since they paid it all.

We have done this many times over our business life. Most times the tenant who paid in advance left early. OH WELL! --99.103.xxx.xxx




Rental Discount (by nhsailmaker [NH]) Posted on: Mar 16, 2019 6:03 AM
Message:

NO

there is miniscule savings to you

maybe $5 in labor a month to record rent received?

Interest on those funds would be a few $$$

NOPE --73.182.xxx.xxx




Rental Discount (by NE [PA]) Posted on: Mar 16, 2019 6:06 AM
Message:

I wouldn't take a year up front.

Most tenants struggle with coming up with 1st months rent and security. Full year up front is a red flag for me and screams "I'm waving money in your face, so don't look too close at me." --50.32.xxx.xxx




Rental Discount (by myob [GA]) Posted on: Mar 16, 2019 6:57 AM
Message:

NE if they pay a year upfront what's there to look at except criminal record?

We had a United Flight attendant who was going out on maternity leave pay a year (11K) upfront. We purchased another house with that. --99.103.xxx.xxx




Rental Discount (by NE [PA]) Posted on: Mar 16, 2019 7:07 AM
Message:

Myob, it's a personal thing for me. It's not the norm by any means. --50.32.xxx.xxx




Rental Discount (by WMH [NC]) Posted on: Mar 16, 2019 8:20 AM
Message:

I don't want to deal with that. Tenants sometimes try waving that idea like it's Section 8: "Guarenteed Rent." I tell them I expect the rent every month from all of my residents anyway, so giving them a discount simply for paying rent doesn't make business sense to me. --50.82.xxx.xx



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