Renting Out Homes For Sale

[Jarrod English]

Hello,

I'm not even sure what terms to search in here to find out if anyone has tried this before but here's the idea.  There's a few houses in my neighbourhood, 1 has been empty and for rent for a number of months and the one across the street has been for sale for even longer I believe.  I guess you call it a sandwich lease but not an option (not to own).  Basically what I'm thinking of is contacting the owners and trying to negotiate a long term rental (works on homes for sale and empty rentals).  I will promise the owners $1000 a month for 5 years and have permission to sub-lease and am keeping whatever profit I can make (say if rented for $1500).  I figure this sort of strategy would only work for homes on the market for long periods.  The perk for the owner is that they have guaranteed income and they can still sell their house after the term which may raise equity in the home as well.

It's just an idea I'm mulling over and thought I might put out some feelers to home owners/real estate agents (who will want a commission I'm sure).  Just thought I would throw this out to the BP community and gauge thoughts and feedback.

Thanks!