To Rent or Not to Rent

Discussion in 'The Thunderdome' started by TennTradition, Nov 17, 2011.

  1. TennTradition

    TennTradition Super Moderator

    My wife and I are nearing the end of our first lease here in Michigan. We've rented a house for our first year here, while saving for buying a house. We still have some savings to go, so we plan to continue renting. We plan on staying in a house because we have two dogs, and the yard comes in very handy.

    We recently were offered through a mutual friend to rent a house from a couple who are preparing to deploy with the military for the next year. Their house is great, sits on an acre of land, and meets all of our needs. They only want $400 a month, which is about $800 in savings over our current rent, even after we store some of our stuff (considering they will leave most of their things in the house). They also offered to pay the first $100 in utilities since that is what they think they would pay even if no one way in the house. It seems to me they just want someone in the house that they can trust while they're gone.

    I can't help but look at this as a too good to pass up kind of deal. I know that deployments are fickle and a lot of things can happen....but two months in the place would pay for the two moves (in and out) that will be needed, and that doesn't seem to be so much of a risk. I want some provisions in the lease that will give us at least some time to look for a new place if one or both deployments are cut short...and I would want to add a pretty strong early lease cancellation provision to give them some protection (I'm thinking half of the total rent left on the lease - that's strong, but their rent is so cheap the amount seems fair).

    I am also concerned about the stewardship of their property. There is a decent chance that it will take some time to communicate with either of the parties if something were to go wrong with the place (water heater leaks, basement floods, etc.). So, I want something in the lease that either provides us decent autonomy to seek repair or places the burden of choosing a repair option, once notified, on someone else, such as the father of the home-owner. I just don't want to be left in a place where something needs replaced and I can't contact the homeowner.

    My question is do you see any particular concerns with this setup. Is there something missing that I should consider or any particular issues I should consider for the lease. This seems to be a great deal for us if I can address the risk appropriately, and I know the homeowners want someone they can trust in the place, and I would like to help them out. Any suggestions would be appreciated....
  2. fl0at_

    fl0at_ Humorless, asinine, joyless pr*ck

    Seems like you have it pretty well covered. Even if the deployment gets cut early, there should be a wind down of a few weeks. They probably wouldn't be able to tell you the exact day they'll be back, but they should at least give you a heads up several weeks in advance.
  3. TennTradition

    TennTradition Super Moderator

    Thanks, guys.
  4. droski

    droski Traffic Criminal

    you can rent a house for $400 a month? kill me now.
  5. TennTradition

    TennTradition Super Moderator

    Haha. No, not normally - though the prices here would still probably make you want to kill someone. This house should be up for rent for at least $1,100 or $1,200 ... and they could probably get more in the right situation. What they are asking for the place for the year is very low, especially considering they are willing to cover the first $100 in utilities. I'm not even sure I'm going to take them up on the utility offer - but they consider this to be what they would be paying anyway if no one were there. I just don't want to feel like I'm taking advantage of them...obviously I'm not as they sought someone out and set the terms...but still...this is cheap.
  6. IP

    IP It's just business.

    Awesome deal.

    There is no way (military dudes can smack me down and correct me if I am wrong, but this is just my family's experience) their one year deployments are going to magically be changed to less than 2 month deployments.
  7. WM

    WM Active Member

    Michigan is dirt cheap.
  8. Volst53

    Volst53 Super Moderator

    Sounds like the deal I had while going to Tech. We had a badass house right across 12th street beside the rugby field. 400 a month

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