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  1. #31
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    Quote Originally Posted by AnnieW625 View Post
    Imho if someone is willing to pay $15k in rent for a place they will be out of the place when they are supposed to be.


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    It happens a lot regardless of price point because people get stuck when they need a bit more time, but not enough time to justify a lease. It is virtually impossible to find a house or even an apartment here for anything less than 6 months in a safe area. I’m sure there are month-to-months in areas I wouldn’t want to be. Say the person needs 1- 2 more months and like OP, the LL has no desire to extend the lease. The only option is to go to a hotel or jump around VRBOs (I’m assuming they already have their items in storage since it sounds like OP's bakehouse is furnished) or find another rental and sign another 6 month lease and be on the hook for the extra months of rent there. Compare that to if they stay put, the LL has to give notice requirements before he can even file an eviction suit. So by the time LL files an eviction suit and the tenant needs to respond, the tenant is out and the issue is over. The Tenant only has to pay a little more than the rent he would have, but nothing compared to the expense of the other options.

    BTW, I know it is all relative, but 15k for approx. 6 months of rent for a lake house sounds very reasonable.

  2. #32
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    JBaxter is offline Pink Diamond level (15,000+ posts)
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    How often does a home promised to be done actually IS done. If you like to be in the water in April/ May you could be out half the summer if there is a delay in construction. Nope let them find another place.
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  3. #33
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    Quote Originally Posted by AnnieW625 View Post
    Imho if someone is willing to pay $15k in rent for a place they will be out of the place when they are supposed to be.
    Because only poor people breach contracts? One of my coworkers rented his house out when he was on assignment in London for a year. His tenants refused to move out his house in an upscale Maryland neighborhood. It took him three months too get them out of his house, meanwhile he had to rent another place and get attorneys involved. It was a nightmare. Also, $15,000 for 6 months of rent at a lake house isn't even that much! That's $2,500 a month. That's less than the going weekly rate at most vacation homes.
    Mommy to my wonderful, HEALTHY twin girls
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  4. #34
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    AnnieW625 is offline Black Diamond level (25,000+ posts)
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    Quote Originally Posted by TwinFoxes View Post
    Because only poor people breach contracts? One of my coworkers rented his house out when he was on assignment in London for a year. His tenants refused to move out his house in an upscale Maryland neighborhood. It took him three months too get them out of his house, meanwhile he had to rent another place and get attorneys involved. It was a nightmare. Also, $15,000 for 6 months of rent at a lake house isn't even that much! That's $2,500 a month. That's less than the going weekly rate at most vacation homes.
    Oh man that sucks. I was just thinking that if someone had a plan to need somewhere to stay while a house was being built and had pre budgeted and have a plan set in place now then maybe they wouldn’t be the type of person that couldn’t be evicted and what not. I guess I am just an optimist and think on the bright side.


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    baby 2, 4-2009 (our Tri-18 baby)

  5. #35
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    Quote Originally Posted by AnnieW625 View Post
    Oh man that sucks. I was just thinking that if someone had a plan to need somewhere to stay while a house was being built and had pre budgeted and have a plan set in place now then maybe they wouldn’t be the type of person that couldn’t be evicted and what not. I guess I am just an optimist and think on the bright side.


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    The higher the rent, the more likely the person doesn’t really care if they breach and knows they can play the system vs someone who is not wealthy and afraid of being sued. If I didn’t need the money and the house wasn’t already set up for renters, no way. Our vacation home is definitely not for renters. Furniture and art and level of finishes are not something we would rent out to someone else. I wouldn’t want to arrange to have furniture, rugs and art stored and have someone’s dog pee or more. And here, rental houses are $700-1,000 a night so $15k would not be worth it. You also need to change your homeowner’s insurance and premiums will increase, though not that much. If my place was one set up for renters with easy to replace stuff and used to wear and tear and I wasn’t going to be around, then I would consider a long term tenant as they can be easier on property than nightly or weekly renters.


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  6. #36
    California is offline Sapphire level (2000+ posts)
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    If you were going into this with a stress-free Plan B for construction delays, I’d say go for it. But it sounds like delays would really mess up your summer.

    Just this last year we had tenants extend a lease twice because their new home construction kept going longer than expected. Fortunately DH and I were fully expecting those delays. It worked out just fine for us (very tight rental market here and turn around time is quite tight.)

    I think if you aren’t okay with construction delays, and don’t have a solid Plan B, and delays are going to cause stress and friction between you and your DH, why do it?

  7. #37
    lovin2shop is offline Sapphire level (2000+ posts)
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    I think I probably would, but would also plan to use a small portion of the funds to rent a place for weekends in the spring when you want to be on lake. Say you spend $2 to $4k of the $15, you still have a nice amount to pocket for minimal inconvenience if it is possible to get another place nearby.


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  8. #38
    mom2binsd is online now Diamond level (5000+ posts)
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    That seems awfully cheap for a 6 month rental. In our lcol 4 bed homes rent for about 2400 in nice areas. But a lake house monthly rental should be much higher.

    I just can't fathom giving up access to a lake house for that amount of time.

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