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Updated over 7 years ago on . Most recent reply

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Haney Mallemat
  • Haddonfield, NJ
4
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22
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How do I get a rental commitment now?

Haney Mallemat
  • Haddonfield, NJ
Posted

Hey folks,

Closing on a retail space at the end of September and have interest in renters who want the space for a two-three year rental commitment, but not until December...that means two months of vacancy in a hot downtown retail space. These renters seem reliable and long-term types, but I hate that the space sits empty in a downtown with little open retail space. My question is, should I: 

1. Accept the December start date and leave it at that?

2. Ask them to pay for some of October / November otherwise I can't do the deal?

3. Keep looking for a new renter and accept them in December if I can't fill it

How would you approach the renters and what would you say?

Thanks everyone!

Most Popular Reply

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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,128
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22,059
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

I'd do something like @Michael Plante suggests.  If they go through the screening process and get accepted, I'd tell them it yours in December, if available.  But that I would continue to market and show the property.  If I get an acceptable applicant who's willing to move in sooner, the first applicant gets a right of first refusal.  They can choose to start the lease at the earlier date or I will lease it to the new applicant.

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