Maine Homes For Rent
Maine homes for rent, something that is not an apartment unit but the entire dwelling available for a month to month rental basis are pretty rare in Northern sections of the state.
Why? The Maine home prices are always so low, attractive that owning makes way more sense then renting. And add to it that as the seller, the rental each month you receive is not going to make any money.
Nothing above and beyond the mortgage payment, Maine property taxes, insurance on the place.
Because if the rental for the home in Maine is too high, the occupant decides let’s get in to a lower priced property listing. A place of our own.
To make money as the seller, owner of Northern Maine real estate and have a little extra for updates, repairs and maintenance, two unit rental properties break even. More units make money if kept rented. If the tenants pay the rent and keep current. The exception to the rule is a Maine waterfront property where for certain weeks of the year you can command a $1000 a week.
The Maine waterfront renter on vacation figures that a motel is going to eat up $60 or more dollars a day. And why not get the family parked beside a Maine lake, river, the ocean for that vacation. Lots more fun kayaking, swimming, fishing, taking hikes around the Maine waterfront than staring at just four motel walls right?
So you can make some serious money renting out anything tied to the Maine waterfront. And the same renters take the place for the same week each year. So in no time, no vacancies.
No need to advertise any further and turning away waterfront renters happens in Maine.
So another Maine waterfront property is purchased to make a vacation rental business possible. A lot like musical chairs where a shortage, a major one happens in this department. Folks use their Maine waterfront properties year round too so little opens up. And to some the word renter makes them squirm, feel regret and get clammy hands, butterflies in their stomachs.
But as for homes in Maine for rent, usually when you do find one it is always for sale. You are a month to month gypsy renter. And maybe that is all you want to be for the short term. A good Maine real estate broker will respect your privacy and the owner’s need to subsidize the place while he is off renting down country.
A day’s notice for showings to only pre-qualified Maine real estate buyers is the best practice. And the new buyer may want you to stay. Or the seller has to give you the 30 day notice but you’ve been a great renter letter.
With an approaching Maine winter, it is better to keep the place heated.
Have a tenant in place to plow the driveways, keep the home property insurance company happy it is occupied.
Owner financing for Maine land property listings is pretty common because the seller does not need to replace anything with another purchase. With homes in Maine that have a mortgage, the rent to own option is nil. The bank holding the mortgage on the place has a nifty, powerful acceleration clause that states try to transfer interest and all the money, remaining balance becomes due. Which can make a “rut row” be uttered by the renter who thought he was the buyer but is out of luck.
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