How to let owner know of sublease?
How do you let the owner of the property know that you intend to sublease the property to someone else? Also, how concerned will they be of this? What do you need to let the owner know?
I have researched to find more info, but I have not found any resource that tells you how to deal with the owner about this.
_________________
WPG
www.MagicTouchDesigns.com
RealEstate@MagicTouchDesigns.com">RealEstate@MagicTouchDesigns.com[ Edited by WPG on Date 03/20/2003 ]
How do you let the owner of the property know that you intend to sublease the property to someone else? Also, how concerned will they be of this? What do you need to let the owner know?
In Your Lease/Option with the seller, you include language to the effect that you have the right to sublease, assign etc...
If you are persuasive, honest, and upfront, the have no reason to be concerned. These forms can be found in a basic L/O course.
Good Luck,
Shawn(OH)
Thanks for the info. It is greatly appreciated.
I will expand on that a bit:
When talking to the motivated seller on the phone, you can either let them know what you do or set an appointment to visit them in person (I prefer the latter)
On your sales call, you let them know EXACTLY how it works. If you are honest with the seller and let them know what you are doing, you will have no problems. If you just try and put it in a contract, you will certainly get some problems.
Remember, you are building a business. By being honest, you WILL get referrals down the road and it will be a good source of extra business.
Orlando is a hot market for these types of deals. I have done many there. Feel free to PM me if you have any specific questions about the market. I will be more than glad to point you in the right direction.
I always do this over the phone.
When we ask the question about taking care of payments and maintance, they often ask how can you do this? I explain that we assist people to get homes. Most people can not just get a loan. Many people need help in qualifing, most of which just need time on the job or just had bad luck. They just need time.
We get many reactions: how long, what about damage, are you very successful in qualifing them. The thing to keep in mind is you are the professional, and they called you for help.
Always try to help others and you will be succesful, no doubt
Sire