Free Rent
By worldwise1
@worldwise1 (14885)
United States
March 22, 2009 12:10pm CST
How does free rent sound to you? I think it's a great idea. An article caught my attention stating that a landlord with properties in 4 states was instituting such a policy to assist their tenants during these stressful financial times. In order to qualify the tenant must be living in the property for three months to receive the free rent with an option that allows them to break their lease if it becomes necessary, say through job loss. I think this should allay their fears at a time when job security is so uncertain. What do you think of this? Would you take advantage of such an offer? You can read the article here:http://buzz.yahoo.com/buzzlog/92389/?fp=1
4 people like this
10 responses
@mummymo (23706)
•
24 Mar 09
I do think it is a very good deal and is likely to get the landlords a lot of tenants especially in these times of high financial turmoil. I think this is probably a win win situation between the landlord and tenant and a good way to be doing business in this day and age! xxx
2 people like this
@worldwise1 (14885)
• United States
24 Mar 09
You are another responder who really sees the light, mummymo! Because he is a businessman, of course he wants to insure that his "bottom line" is covered, but he is also doing a good deed for his tenants.
2 people like this
@worldwise1 (14885)
• United States
24 Mar 09
As I stated, weemam, the idea is not entirely altruistic on the landlord's behalf, but I do agree that it sounds like a good deal for tenants.
@winterose (39887)
• Canada
23 Mar 09
sure I would take advantage of the opportunity if I thought there was no strings attached but you know you cannot always tell if there will be strings attached that is the problem. I don't trust many people anymore.
1 person likes this
@winterose (39887)
• Canada
25 Mar 09
most people don't read the fine print that has been documented over and over again, that is why they get upset with contracts they enter, whether it is for insurance, a cellphone or whatever, they complain and then the contract holder said did you read the contract and the answer most of the time is now the listened to salesman and it signed the paper. This is well known and documented all over, most people can't be bothered reading a whole boring contract,
they hear what they want to here
example,
a product stops working
they take it back for a full refund,
they company won;t except it
they get angry and say but you told me I could get my money back if it didn;t work,
and the company say yes, in the first 30 days did you read your contract it is there,
all the people heard was full refund nothing more and they didn't check the contract.
@worldwise1 (14885)
• United States
24 Mar 09
I'm fairly certain, winterose, that anyone considering undertaking such a commitment would know that they should read all of the fine print first.
1 person likes this
@MsTickle (25180)
• Australia
24 Mar 09
That is fabulous of him to do that. He would be able to write that off as a loss and the tennant would be assured of somewhere to live till he gets back on his feet. This guy is ever obviously aware of his good fortune and using his ability to help his fellow man...why can't the bigger companies work things out like this instead of blatantly pulling the rug out from under people.
Don't get me wrong, I believe there are many people living way beyond their means and they need a clip over the ear (or the rug pulled out from under them) to make them wake up. But there are some people who are genuinely in trouble because of job loss because the boss is too greedy to care for his workers.
@worldwise1 (14885)
• United States
24 Mar 09
I'm glad that you see the ingenuity in this plan, Ms Tickle.
Of course, I couldn't help but notice how suspicious some myLotters were in regards to the landlord's motives, but as I stated, this is a win-win situation for him.
Of course, I couldn't help but notice how suspicious some myLotters were in regards to the landlord's motives, but as I stated, this is a win-win situation for him.1 person likes this
@worldwise1 (14885)
• United States
24 Mar 09
Maybe there is something similar to this in the area where you live, Aurone. We like to believe that everyone is out to get us, but that certainly isn't true all of the time.
@celticeagle (160064)
• Boise, Idaho
24 Mar 09
This is good to see. I am glad that people are working together and trying to help instead of making it so difficult at such a time. It seems that America does tend to pull together and do the right thing even though we so much ugliness and unrest in the media. Does a heart good to see the positive side for a change. Our nation can heal and come back from this given some time and effort.
1 person likes this
@worldwise1 (14885)
• United States
24 Mar 09
Yes, celticeagle, it is true that some people actually do have a heart despite what we hear on a daily basis. This sounds like an equitable solution for all concerned.
@hoghoney (3747)
• United States
25 Mar 09
Well I might if it was the last resort maybe...but I was getting free rent where I lived at up til last summer when me and my boyfriend moved in with his dad due to health problems he is having...but we got free rent for taking care of our landlords propertys for him while he was gone...did that for two years.
@carolscash (9492)
• United States
23 Mar 09
Sounds like a deal but I would be leery of the fine print. I don't know why this man who has this property as a money maker would allow people to rent for free. I will read the article and see if I see anything in it that makes me think that it is a scam. I would not mind living free. I don't think that the banks and mortgage companies would ever do anything like this. They would rather foreclose on someone that take a partial payment and allow someone to keep their home. I have been through the foreclosure process on my mom's house. It was a nightmare!!
@worldwise1 (14885)
• United States
24 Mar 09
That's the beauty of the arrangement, carolscash. The tenant would not be entitled to free rent for a long period of time, but it would give them enough time to try and make other arrangements.
@lilnono (228)
• United States
22 Mar 09
It sounds like a great idea to me. He's probably thinking that the economy has already hit rock bottom and there won't be too many more layoffs. This Layoffproof lease will probably be a big help to a few people but he looks like he owns enough properties so that it won't really bankrupt him.
@worldwise1 (14885)
• United States
24 Mar 09
My thoughts exactly, lilnono! The landlord will not be risking a great deal with such an arrangement.
@ChefMazda (56)
• United States
22 Mar 09
Somthing just does not seem right about this. The reason land lords and property investors buy property and rent it out is to make money. If they are offering free rent, what is thier gain. Do you really think he is doing this out of the kindness of his heart? If he is I hope theres more people out that there like that. I would check into it more before you sign on the dotted line, there must be a catch.
1 person likes this
@worldwise1 (14885)
• United States
24 Mar 09
I believe, ChefMazda, that the owners of the properties are a huge corporation whose benefit will be saving them the financial burden of evicting said tenants should the unthinkable happen. I've heard that the eviction process can be a costly and lengthy one, so the landlords win if the tenants have signed papers giving them the option of breaking the lease after a short period of time.
