How Much Should You Charge a Seller Who Wants to Rent Back a House From You?
If you’re buying a home in Port Aransas, the seller might ask you if he or she can rent it back for a while until finding a new home.
It’s totally up to you whether you accept this type of arrangement – but if you do, you’ll have to figure out how much to charge.
How to Calculate Your Seller’s Rent
Usually, you can just determine monthly rent by figuring out how much it’s costing you to own the house. You might also need to consider HOA dues, though, and whether you’ve already put appliances in your name.
Remember that many lenders won’t let you agree to a leaseback deal that goes longer than 60 days – so you’ll need to ask your bank if what you’re doing is okay before you agree.
Are You Buying a Home in Port Aransas or on North Padre Island?
Call us at 361-563-7788 or get in touch with us online to tell us what you want from your next home. We’ll begin searching right away.
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