Not exact matches
Cons:
leases have yearly mileage restrictions that typically range from 10K - 12K miles, and overage
fees can
add up quickly!
These
fees can
add up quickly and make the cost of
leasing your vehicle higher than the cost of financing your vehicle.
Part of the sales pitch most realtors will use when trying to sell a client on Home Partners is that they have the option to purchase the house they are renting for 5 % above what Home Partners pays for it... But, by the time you account for their above market rents, a sizable initial repair budget (that the tenant / buyer has no control over what Home Partners decides to spend), maintenance and repairs while renting (yes, the tenant will have normal repairs and maintenance costs during their
lease added to their purchase price), closing costs, and the company's 5 %
fee - you should expect a right to purchase price that is more like 10 - 15 % higher than the original purchase price.
If a tenant chooses to select a day that's after the due date to pay rent, you're of course able to
add late
fees as needed to ensure your
lease contract is enforced.
Everything from cost of security deposits, to
lease fees, and renters insurance all
add up to making renting more costly than the surface numbers make it out to be.
However, if after meeting your prospective tenant and finding out they have a pet you decide to allow it, at least require additional securities, such as a pet
fee or an additional deposit, and
add a Pet Addendum to your
lease.
Add to that MLS
fees,
lease - only
fees, rent protection plan
fees, eviction protection plan
fees, renewal
fees, re-keying
fees, late
fees and vendor income and you begin to see why property management is a goldmine hiding in plain sight.