problems trying to rent while unemployed

 Hello,
I find myself unemployed, and it's likely to be that way for
the next 3 - 6 months until I complete some training.

In the meantime, we've sold our house, and expect to clear
$250,000 + in profits when it closes in a couple of weeks.

We plan to rent for a year and then re-evauate things
at the end of the lease.

The problem we're having is that rentals, particularly those
that go thru a rental agency, are balking at renting to us
(myself, wife and two children)
even though our credit reports are good, and we're about to
get a big balance at the bank.  

Anybody have any tips for improving our situation?

I came up with the idea of just offering the landlord
6 months rent in advance, even the full year,
but not sure of any legal implications of that.

TIA for any info.
Dave

 
dave xnet wrote:

That sounds like the best idea to me.  The disadvantage is not really
legal, but more practical.   Once you're paid in full, you lose
leverage.  So, I'd make even more sure than usual that the place is
ship shape and that you aren't going to run into problems, because the
landlord may be less responsive.   Also, if for some reason you want to
break the lease early, the landlord is in a much better position and
will likely be less flexible in being willing to negotiate some
resolution.

 

Adding to Trader4's idea:   put one year's worth of rent (or six months,
whatever) into a joint escrow account, to be released each month.   That way
the landlord knows the money is there, but you're not losing your leverage
by paying your rent far in advance.

Just a suggestion.

Donna

 On Mon, 13 Nov 2006 16:47:17 GMT, "Donna"


Thanks for your suggestion Donna.
Where/How does one establish such an account?

Dave

 On Mon, 13 Nov 2006 20:51:56 GMT, dave xnet


A second point, if we pay the landlord driectly, we may be able to
negotiate a discount, perhaps 5%,to cover our loss of
potential interest over time, and the landlords gain.
We lose this benefit with the escrow situation.

Dave