Hello,
we plan to buy some USA properties next year and were wondering the following:
We plan to purchase residential properties with tenants and therefore would have to sign new lease contracts with them. Can we only negotiate a maximum 12 month lease, or could we offer an incentive to sign a longer lease? For example, say we had a tenant paying $800 per month. Could we entice them to take a 2 year lease for say $780 per month, or even longer at a slightly lower rate?
We're just curious if this is legal and of course its a way of getting a tenant to occupy the unit for longer which lessens the vacancy risk.
Thanks.
Hi Bevk,
FYI, it is a renters market in the US these days. 1 year leases are standard practice and the market rate will determine your rent. If you are priced correctly, you will be successful in acquiring and retaining tenants.
I am from the US and have a real estate development/ investment background. I am also a buyers advocate for US real estate in Melbourne. There are differences between the US & Australia real estate cultures that need to be understood prior to venturing offshore.
I hope this provides some insight. I am always happy to answer questions and explain how America Property Source assists our clients with US property acquisitions.
Kind regards,
John CarneyJohn Carney | America Property Source I johncarneyonline.com
http://johncarneyonline.com
Email Me | Phone MeWork Hard. Play Hard. Profit Hard.
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