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would you pay several months rent upfront?

Posted by on Nov. 18, 2011 at 9:09 AM
  • 6 Replies
With our credit history we discussed with our Realtor that dh and I are willing to pay half our yr lease upfront. So 6 months worth of rent upfront because we figured money talks and the more of it you bring to the table, the better chances we have of finding a home for rent.

Well after I told a few ppl of our plan ALOT of them said we shouldn't pay that much money upfront because we're not sure if the landlord will pay the mortgage with it. Since its one lump sum. And we'd suffer the consequences and our money would be gone.

So I'm asking you ladies your opinion on this?
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by on Nov. 18, 2011 at 9:09 AM
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Replies (1-6):
Isaacsmom913
by on Nov. 18, 2011 at 9:16 AM

We did this actually on a house we rented about 5 years ago. 

WIth a foreclosure it would take far longer than 6 months for the final notice to come, but I do understand peoples concerns.  If you're working with a managment company instead of a private owner odds are more in your favor of this NOT happening.  Of course if you're still concerned you could ask that the money be put in an escrow account of sorts that either you OR they have access too.  Of course if you withdraw the $$ you could be held liable and if they dont' pay the mortgage they would be.  I don't know if that would work, but it's an idea.

As for our situation--there was another couple who was interested in the house so we paid the ENTIRE year just go get it.  We ended up living there 5 years!  Good luck!

alwayskk
by on Nov. 18, 2011 at 9:18 AM

I don't think I would, because you never know what can happen.

Mistaken.love95
by on Nov. 18, 2011 at 9:18 AM
The house I am in now my DF and I did that. We paid 6 months and then our taxes will be here :)
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Dimples04
by on Nov. 18, 2011 at 9:20 AM
Only if you know 100% that your landlords won't flake out if something needs repaired.
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elle7777
by Gold Member on Nov. 18, 2011 at 9:20 AM

I wouldn't because I have had no problems getting an apartment. But, if I had and needed to I would to get a approved.

celestegood
by Platinum Member on Nov. 18, 2011 at 9:22 AM

 Well, I would be sure to get a signed official reciept from the money you give, and that would be ok.

I would pay six months in advance with this landlord we have, but we've rented from them for eight years.

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