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Renting to Owning - Can a rider help?

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Renting to Owning - Can a rider help?

Postby LaurieLeddy » Sun Oct 06, 2002 4:58 pm

We are renters about to become first time home buyers. Unfortunatley looking for a house when you have three months left on your lease is really anxiety inducing. What if we don't find the right house in time?? We don't want to be forced to take something just because our lease is running out.

A couple of years ago a fellow tenant told me that you could sign a rider that would essentially allow you to go month to month if you are trying to buy a house. Has anyone heard of such a thing? It sounds too good to be true.

I'd welcome any and all creative suggestions in dealing with this. Thanks.
LaurieLeddy
 
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Re: Renting to Owning - Can a rider help?

Postby HAJ77 » Mon Oct 07, 2002 8:11 am

Depending upon your relationship with the LL, you may have quite a few options. If it's a good relationship, then most sensible LLs would be happy to keep you month to month in this econdomy. So a friendy chat and a few signatures might get you a month to month deal or a short-term lease. If it's a bad relationship, then you might not have many options since the LL has the right to set the length of the lease. Right now, you need to determine how the LL is, and then approach them about a month to month extension.
HAJ77
 
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