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    paloma354's Avatar
    paloma354 Posts: 8, Reputation: 1
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    #1

    Jul 4, 2009, 08:02 AM
    Rent While on the Market?
    I have two houses on my property and live in one. I would like to rent the other out but have my property on the market to sell. It's already been on the market for a year with few prospects and I expect it to be on the market for quite awhile.

    Is there anyway legally, to rent my other house with the slight expectation that the place could get sold?
    s_cianci's Avatar
    s_cianci Posts: 5,472, Reputation: 760
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    #2

    Jul 4, 2009, 08:08 AM
    You could lease it on a month-to-month basis if you find a willing tenant. Once you get an offer it would take more than 30 days for settlement to be complete so your tenant would have plenty of time to move out.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #3

    Jul 4, 2009, 10:30 AM

    There is nothing illegal about renting the house until a buyer is found. Any lease you enter into has to be honored by the buyer, so the tenant would have some protection.

    It might make it harder to rent or sell since you would need to notify the tenant that the house is up for sale.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Jul 4, 2009, 02:48 PM

    On homes with more value, I find a empty one ( well they have to be staged with furniture) sell best, but if these are lower valued homes that may be a starter home or a rental property then having a renter ( esp if on a month to month rent) may be the best thing.
    Remember they may have cheap furniture, it may be dirty when someone looks at it and more.
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