Call from insurance company wanting to place tenants

[Mike S.]

I just had an interesting call from an insurance company.  They have a couple displaced by a fire and want to pay their rent for a 9-month lease.  They are also going to pay a $200 a month premium.

The good of course is getting it rented with the premium.  The downside is that it will put me back into slow winter months looking for a tenant. Also, with spring coming, I may lose out on a longer term tenant.

Opinions on whether I should take these tenants( assuming regular qualifications are met)?  End of this month will be going on 2 months vacancy.

[Luc Boiron]

I think you should jump on it. You'll have the place rented now, and the extra 2 months will cover some vacancy on the back end. You also never know if they will be on track in repairing the property, it might turn into 12 months+.

Just make sure the tenants qualify on their own, because they may become your tenants when the insurance company is out of the picture.

Good luck!