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Updated over 1 year ago on . Most recent reply

User Stats

108
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27
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Edward R.
  • Real Estate Investor
  • La Fayette, NY
27
Votes |
108
Posts

Doing another Fire insurances Rentals with ALE

Edward R.
  • Real Estate Investor
  • La Fayette, NY
Posted

A Friend contacted me about a coworker who suffered a small fire at their house so needs a temporary place for 3 months. She put me (my 5* Airbnb) in touch with the person and he checked things out online and my virtual walkthrough page and He's  likely renting it.  He mentioned his USAA insurance does work with  ALE  Relocation Plus he has a publice Adjustor (a reputable local firm) (I worked with two others before)   Should I have ALE pay me directly or have the customer pay directly instead?  (thinking tax purposes). It's a semi-retired couple, Very trustworthy and financially secure (I know his work position, and prestigious enough to have his own Wikipedia.  (impressive credentials).

His contractor said 2- 2.5 months but I'm going to request ALE do 3 month minimum lease. 

Also, I think ALE may even pay the 3 months in full in advance if pushed.

I also implement my own short-term lease with guests that stay an extended time

Most Popular Reply

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1,386
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1,536
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Adam Martin
  • Rental Property Investor
1,536
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1,386
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Adam Martin
  • Rental Property Investor
Replied

I have gone through ALE before and it went well.  You are going to sign the lease with the tenants who will be responsible for the deposit.  They are going to give you a couple additional sentences to put into your lease stating that they will pay directly and can be the ones extending but what they wanted seemed to make sense so I had no issues amending it.  They will pay you directly and you are going to authorize this in the wording they send you and will be mailing you a check, there is no direct deposit option but it really is no big deal.  I did have a check get lost in the mail, my USPS tracker said it was coming but then they lost it.  No big deal they overnighted a new one.  I can't see them paying in advance but it doesn't hurt to ask.  They wanted a 3 month lease but I said I wouldn't go less than 6 and they agreed.  The tenant moved out after 5 since the house was done but they paid the full time.  

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