Overcoming This Objection...
I just lost ANOTHER sandwich L/O deal. Not the first I might add, to this objection. The homeowner asks me "what happens if your tenant trashes the place?" Who pays for it?
I was thinking that there must be some kind of inexpensive insurance to cover this. If anyone has had any experience with this, or any ideas that may help, they would be greatly appreciated. Thanks to ALL!
JD
If I ever got asked that question, I would tell the seller - I AM responsible for that. And then put in your contract that the t/b is (obviously) responsible for keeping the place in excellent condition.
Good Luck!
[addsig]
"I understand your concern, but with the type of class of clients we deal with, that absolutely never happens. It is a complete non-issue. But if it did, my company would have to fix it."
[addsig]
Thanks guys! I did talk to an ins. lady that told me that if the owner has a Dwelling/Fire Policy that covers vandalism, and malicious mischief, you shoulod be ok.
But to be on the safe side I should have a liability policy on my corp. (I know I should anyway, and will get one soon.)
JD
Find out what the going rate is per square foot for rent, or approximate same beds/baths for your area. Then add around 5% beings your adding value by carying the financing. Just my opinion.
JD