 what is it called (by 6x6 [TN]) May 31, 2023 11:30 AM
 what is it called (by Larry [MN]) May 31, 2023 11:43 AM
what is it called (by jonny [NY]) May 31, 2023 11:58 AM
what is it called (by 6x6 [TN]) May 31, 2023 12:06 PM
what is it called (by Vee [OH]) May 31, 2023 12:16 PM
what is it called (by Ken [NY]) May 31, 2023 12:23 PM
what is it called (by Ray-N-Pa [PA]) May 31, 2023 12:40 PM
what is it called (by jonny [NY]) May 31, 2023 2:17 PM
what is it called (by jonny [NY]) May 31, 2023 2:43 PM
what is it called (by DJ [VA]) May 31, 2023 4:33 PM
what is it called (by jonny [NY]) May 31, 2023 5:52 PM
what is it called (by plenty [MO]) May 31, 2023 7:27 PM
what is it called (by DJ [VA]) May 31, 2023 9:38 PM
what is it called (by Jim in O C [CA]) May 31, 2023 10:35 PM
what is it called (by Salernitana [CA]) Jun 1, 2023 11:37 AM
what is it called (by 6x6 [TN]) Jun 1, 2023 10:51 PM
what is it called (by 6x6 [TN]) Posted on: May 31, 2023 11:30 AM
Message:
I know that it has been mentioned on here before but I can't remember what it is called.
If someone is wanting to rent a house from you but they are not going to live in it, rather they are going to re-rent it as a furnished rental, what do you call that?
I don't think it is called subletting or subleasing.
Thank you for your time --73.190.xxx.xxx |
what is it called (by Larry [MN]) Posted on: May 31, 2023 11:43 AM
Message:
I've seen financial tips on Reels or Tik Toks offering easy cash flow money making by renting a house by the month, furnish it and rent it out as an Air B&B for easy quick profits.
I want to yell, "what landlord would ever allow someone to rent by the month and turn it into a short term rental".
--68.46.xx.xxx |
what is it called (by jonny [NY]) Posted on: May 31, 2023 11:58 AM
Message:
That is what it's called 6x6 ... if you don't want them to do that then have a clause in your lease stating "no subletting, subleasing, AirBnB, VRBO or any other such programs are allowed without previous written permission from the owner/ landlord".
You should also have something in there indicating that no other person/persons can reside in or on the property without your prior written approval as well (like if they want to move in a gf/bf or roommate). All must be vetted, approved and accepted by you PRIOR TO their moving in. --69.201.xx.xxx |
what is it called (by 6x6 [TN]) Posted on: May 31, 2023 12:06 PM
Message:
Thank you for your replies.
I messaged this person back that we do not allow subleasing and they said they didn't think that it was called that. It got me wondering and so I Googled subleasing. It referred to subleasing as if the original renter lived in the home and subleased part of the space. This person would not be living in the home and just re-renting it so I wasn't sure.
I would not want to rent it out that way myself. Way too risky. --73.190.xxx.xxx |
what is it called (by Vee [OH]) Posted on: May 31, 2023 12:16 PM
Message:
Subleasing shoud be in your lease as a expensive no no- in OH the penalty must be listed like 500 daily for unauthorized animals plus turning in the animal to the county kennel, ssome people try to rent out an unused room where they rent a house, subletting is this illegal activity - if you catch someone doing it best to double what they say they are paying and collect it before your actual tenant collects - then you can evict the tenant and be 30 days smarter. --184.59.xxx.xx |
what is it called (by Ken [NY]) Posted on: May 31, 2023 12:23 PM
Message:
what is it called (by Ray-N-Pa [PA]) Posted on: May 31, 2023 12:40 PM
Message:
Subletting is a form of a Master Lease --24.101.xxx.xxx |
what is it called (by jonny [NY]) Posted on: May 31, 2023 2:17 PM
Message:
Ken's correct as well but it's all word games in my opinion. The "ACT" of arbitrage is actually allowing the tenant to rent it short term to someone else. The owner / landlord would be in a longer term rental with a relatively lower rate for rent and the tenant (that would be renting it out to others) would be renting it out to short term tenants/guests for a higher amount (such as AirBnB, VRBO, etc).
Just tell them that THEY are the ONLY ones that are allowed to rent and reside there... they are not allowed to rent it out to others or allow others to live there without your approval and consent (before they do). --69.201.xx.xxx |
what is it called (by jonny [NY]) Posted on: May 31, 2023 2:43 PM
Message:
Here is my clause if it helps (and others, if you have any other ideas to add to this, feel free to chime in)...
22. ASSIGNMENT, SUBLET. Tenant may not sublet all or part of the Premises, or assign this Lease or permit any other person to use the Premises unless by prior written approval of the Landlord. This includes (but not limited to) services such as Airbnb, VRBO, Couchsurfing, and the like. --69.201.xx.xxx |
what is it called (by DJ [VA]) Posted on: May 31, 2023 4:33 PM
Message:
It may also be called a sandwich lease.
Jeffrey's son spoke on doing exactly this at last year's convention.
It can be a very good / profitable business model - don't (everybody) be so quick to condemn it.
Basically, as I recall:
The landlord/owner rents him the space for a guaranteed income without doing anything.
The Tenant-Landlord furnishes it, maintains & repairs it, and rents it out short-term.
The landlord/owner liked what he was doing so much, that he continues to offer him more units as they become available. --174.47.xxx.x |
what is it called (by jonny [NY]) Posted on: May 31, 2023 5:52 PM
Message:
DJ - definitely if that's what an owner is able to stomach (so to speak). There is equal amount of risk on both sides (tenant that is actually renting the apt may not have enough short term renters to pay the rent as an example) but one of the other things I saw was that the owner and tenant could come to terms with each other about the rent could be X amount and then the renter also provides a percentage of the increased rent to owner too (all in writing).
You could make it a pretty lucrative situation for all concerned if it worked... that would be ideal for the landlord / owner that doesn't want to "deal" with the short term renter with the turnovers, etc but has someone that does and will... both end up making money.
Obviously there are pitfalls potentially and risk for all ... so do what you can handle. --69.201.xx.xxx |
what is it called (by plenty [MO]) Posted on: May 31, 2023 7:27 PM
Message:
It's call A BAD idea! However it can be a good opportunity. --172.59.xxx.xxx |
what is it called (by DJ [VA]) Posted on: May 31, 2023 9:38 PM
Message:
An important point, of course, is location. Jeffrey's son was doing air BnB in Virginia beach, resort city --174.47.xxx.x |
what is it called (by Jim in O C [CA]) Posted on: May 31, 2023 10:35 PM
Message:
Sub lease ? --99.23.xxx.x |
what is it called (by Salernitana [CA]) Posted on: Jun 1, 2023 11:37 AM
Message:
That the prospective tenant asked you about the sublet possibility and then didn't know the exact terminology really irks me. I hope that you have enough other interested parties for your place so that you can do a quick refusal on this prospect. I wouldn't like anyone who could even entertain the fact of doing a sublet situation in your place.
Best of luck with your next tenant.
--73.241.xxx.xxx |
what is it called (by 6x6 [TN]) Posted on: Jun 1, 2023 10:51 PM
Message:
Thank you everyone.
Thank you Salernitana. I wouldn't want to rent that way. I think I have landed a great tenant. Time will tell. --73.190.xxx.xxx |
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