grignac
New Member
Joined: Jan 5, 2011 17:23:00 GMT -5
Posts: 5
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Post by grignac on Apr 18, 2019 22:35:21 GMT -5
I own a rental. I was just contacted by two agents from Fox Corporate Housing offering over my lease rates for a 6 month contract for a family displaced by home damage. They want the lease in the Corporate name. Is this real or a scam? There's hardly a review on the interwebs so I thought about my old MSN money refugees.
It's been way to long since I've posted here. But it's amazing to see folks like Phil and WWBG active.
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tractor
Senior Member
Joined: Jan 4, 2011 15:19:30 GMT -5
Posts: 3,450
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Post by tractor on Apr 19, 2019 7:28:01 GMT -5
Never heard of them, what part of the county are you in?
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Deleted
Joined: Mar 28, 2024 11:14:15 GMT -5
Posts: 0
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Post by Deleted on Apr 19, 2019 10:00:06 GMT -5
It looks like they are based in Texas but have rentals nationwide. It's not connected with Fox News and appears legit. www.foxcorphousing.com/
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phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,409
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Post by phil5185 on Apr 19, 2019 11:23:32 GMT -5
I looked in our city - they have blocked their info so that you cannot research them w/o signing up - ie, they require your name, date of your 'stay', your email, phone, and much more. So obviously they are not proud enough of their services/prices to share them. I wouldn't turn my houses over to them - the high in/out customer traffic, the regular servicing (cleaning crews, sheet changers, etc) takes a toll on paint, walls, flooring, door latches, toilets, window curtains/drapes, appliances. Construction workers that are in town for a month or so (roofers, highway workers, etc) aren't going to take off the boots each time that they run back into the house to get things. One time I rented a house to two mechanics for about 6 months - the boot trail went 'fridge, couch, bathroom, & repeat'. Good people - but definitely a lot harder on a house than normal longterm renters - so make certain that you plan for that when you set your pricing, your costs are going to be close to double..
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grignac
New Member
Joined: Jan 5, 2011 17:23:00 GMT -5
Posts: 5
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Post by grignac on Apr 20, 2019 18:49:53 GMT -5
Thanks all. Some more details. They offered $500 over my rent rate for 6 months. But I am very hesitant for anything with tenants rolling through like a rotating door. I think it's supposed to be 1 renter for 6 months just covered by the company. Anyone familiar with landlord/tenant law when the renter is a corp and in TX (Dwelling is in MS).
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Deleted
Joined: Mar 28, 2024 11:14:15 GMT -5
Posts: 0
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Post by Deleted on Apr 21, 2019 13:14:52 GMT -5
I think it's supposed to be 1 renter for 6 months just covered by the company. That is the biggest red flag though. It won't be 1 renter if the company is signing the lease. Also you want to be able to background check the actual renter (criminal, credit, etc.). From people I know that were displaced due to say a house fire, the insurance did "guarantee" or make payment for the lease, but still the insurance company refused to be listed on the lease. The insurance normally required a month to month lease and was willing to pay the premium for that as they would end lease as soon as the family could get back in their home. The "company" didn't want anything to do with signing the lease as the family still had to treat the rental good and make sure to get their deposit back. So legally, the insurance required the family to sign the lease. When I was interning, same with all my friends, we always had to sign the lease for the corporate housing. That way if we destroyed the unit we would get sued, not the company. The company only provided a fixed value rent guarantee (so not even a full cosigner). The apartment complex still did full credit/criminal checks on us. Personally, I would decline. Even if they are not a scam or bad company, they are doing things outside the normal and not offering enough profit ($500 *6 = $3,000 on what a $200K-300K asset).
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