Renting home to folks who need temporary housing
Recently, I was approached by someone who works for temporary housing about renting my property. The family he’s working with have experienced fire damage on their home and need a place to live. He wants a lease for a few months and then it would be month to month. The family’s insurance would be paying the rent and it is higher than our listed monthly rent.
I’m a new investor and have never heard of anything like this before. This seems too good to be true…
Questions
- Is this a scam?
- Why would they be open to paying more than listing?
- How can this become a bad situation?
- What type of deposit should be required if pets are involved?
My pros/cons list :
Pros
- Rent is guaranteed
Cons
- If we start a 4 month lease right now, then it would finish by December - could be hard to find someone to rent the place when it’s cold/rainy
- Damage could occur and would require fixing after this temporary housing is complete meaning more money
If someone has done this before, please share your experience!