General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago,
Seller Wants Future Rental Profits
Hi All,
I recently went under contact on my first STR, Yay!
The property is already an STR and the current owners have bookings confirmed into July.
The closing date is set for March 30th (meaning, I will then take over the property that day).
The sellers have asked me to either let their pre-paid guests stay in my property (and they keep the profits)
OR
pay the sellers nearly $6k, in reservation fees that they would have profited if they were not selling the property.
Is this common?
Any thoughts on how I should respond?