Giving reduced rent to someone who will be enjoyable to live with while treating you and your space with respect is worth it.

We're pretty much not lending on condos because of the additional risk of the condo assn, and because of the reduced exit strategy if it's not 75% owner occupied.

The only suggestion I have is depending on what you are doing on the exterior get that going while some of the interior is being finished so you can reduce your holding time and to get in on the market faster.

If you could offer a bigger co-op you might get it leased faster.Example 2,800 a year times 12 is 33,600 in gross rental income.If you pay say 700 more to the co-op broker rather than reducing you might come out better.Example you reduce to 2,400 and lease out but keep co-op low.You lose 4,800 in rental income per year whereas if you paid 700 more to co-op broker you would still get 4,100 more per year at a higher lease rate.The higher co-op does not set market value but especially with rentals the payout being low already the brokers/agents follow the money.Good Luck

Bryan, I have never done this so I am not speaking from experience, but in my opinion, I would have to side with the majority here on the problems involved, mostly the necessary disclosure that the home was moved which will likely translate into a very small buyer's pool of which will reduce your profit margin.I would look at an alternative in getting all the valuable items from the home (windows, doors, finish items, etc and using them on another rehab deal.

They decided to invest in the US because the banks have reduced the homes so drastically here.

Lenders fear rates are going to jump, which will tend to reduce the value of properties like this.Lets figure out if this is a good deal, first.

it's kind of funny because when I was a renter, I ALWAYS got reduced rent in exchange for doing work on the property - I've put in tile floors, done plumbing, painting, treework, landscaping, you name it...

I keep reading about how there are so many benefits to being a landlord, because you can reduce your income taxes and such...Can anyone please explain how it works?

But I suspect the landlord will probably accept the reduced payment if you have 1) given him notice in writing that you need the key, 2) given him enough time to get a copy of the key to you, and 3) don't use an outrageously expensive locksmith.