3,350,439
10% is the number that immediately popped into my mind.
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Frank Rubi
Metairie, LA
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The Villages Realty
San Jose, CA
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Lyn Sims
Schaumburg, IL
-
John Juarez
Fremont, CA
-
Nina Hollander, Broker
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
846,475
10% is what I have done numerous times with my own rental props.
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Frank Rubi
Metairie, LA
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Debe Maxwell, CRS
Charlotte, NC
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Lyn Sims
Schaumburg, IL
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John Juarez
Fremont, CA
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Kevin J. May
Hobe Sound, FL
-
Nina Hollander, Broker
Charlotte, NC
376,887
One month free at a minimum. It may need to just be written up as a 10 or 15% reduction of the monthly rent though.
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Frank Rubi
Metairie, LA
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Nina Hollander, Broker
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
400,356
Looking at it from the landlord's or lister's view, I'd wonder why they want to pay it all upfront. If it's because they're high risk, no discount or maybe pass on them altogether.
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Teri Pacitto
Westlake Village, CA
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Debe Maxwell, CRS
Charlotte, NC
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Lyn Sims
Schaumburg, IL
-
Kevin J. May
Hobe Sound, FL
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Ryan Huggins - Thousan...
Thousand Oaks, CA
716,891
10% seems very fair.
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Kevin J. May
Hobe Sound, FL
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
679,404
10% is the number that sounds good and fair ... might even equal a full months rent -- ?
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
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Valeria Mola
Sunny Isles Beach, FL
4,906,412
I would try for 10%
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Frank Rubi
Metairie, LA
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Kevin J. May
Hobe Sound, FL
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Valeria Mola
Sunny Isles Beach, FL
1,325,759
Survey Says: 10%. Kevin J. May At least that what the majority of AR responders suggest. That, of course, is more than a month of free rent. (12 months in a year X 10% = 1.2 months.) Taking a year's rent up front does not mean that a landlord will or should surrender any other rights...such as periodic inspections or, at least, contact. I doubt that you would take a discounted rent for a year and then ignore the tenant for 12 months.
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Frank Rubi
Metairie, LA
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Kevin J. May
Hobe Sound, FL
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Steve Higgins
Kelowna, BC
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Debe Maxwell, CRS
Charlotte, NC
5,115,878
I have investor clients who have given a 10% discount for full year's payment up front or one month's rent free.
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Frank Rubi
Metairie, LA
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Kevin J. May
Hobe Sound, FL
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Steve Higgins
Kelowna, BC
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John Juarez
Fremont, CA
2,071,025
10-15%
Sometimes it is more. At least in our area.
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Frank Rubi
Metairie, LA
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Debe Maxwell, CRS
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
2,189,772
If it isn't at least 10%, probably not worth doing.
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Frank Rubi
Metairie, LA
-
Debe Maxwell, CRS
Charlotte, NC
-
John Juarez
Fremont, CA
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Kevin J. May
Hobe Sound, FL
1,598,452
10-15% sounds good.
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Frank Rubi
Metairie, LA
-
Debe Maxwell, CRS
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
352,976
I would pass. Typically when this is asked for they have low credit score or other issues that they think this is a viable option for the landlord. What happens after the first year. Best to move along with another tenant.
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Kevin J. May
Hobe Sound, FL
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Eve Alexander
Tampa, FL
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Debe Maxwell, CRS
Charlotte, NC
1,573,341
Generally, I've heard about 10%
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Frank Rubi
Metairie, LA
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Kevin J. May
Hobe Sound, FL
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The Villages Realty
San Jose, CA
1,554,691
None, I don't do it, even when offered.
Pacific Heights comes to mind.
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Debe Maxwell, CRS
Charlotte, NC
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Thomas J. Nelson, REAL...
La Jolla, CA
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Kevin J. May
Hobe Sound, FL
5,062,995
I didn't have a clue but thought 10% sounded good and it seems others think so too!
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Frank Rubi
Metairie, LA
-
Debe Maxwell, CRS
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
6,424,196
We give a 5% discount to our renters, primarily students, who pay 6 months to a year ahead.
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Debe Maxwell, CRS
Charlotte, NC
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Bob Crane
Stevens Point, WI
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Kevin J. May
Hobe Sound, FL
2,222,275
ZERO
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Kevin J. May
Hobe Sound, FL
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
5,257,589
One month - Sounds better for the tenant than 10% but, to the landlord, it's more money in their pocket!
Say rent is $1,000/month X 12 = $12,000.
10% is $1,200 vs 1 month at $1,000.
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Kevin J. May
Hobe Sound, FL
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Steve Higgins
Kelowna, BC
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Bob Crane
Stevens Point, WI
1,847,621
Zero? Is this a trick math question? I'm a little 'light' in that dept.
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Kevin J. May
Hobe Sound, FL
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Anthony Acosta - ALLAT...
Atlanta, GA
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Debe Maxwell, CRS
Charlotte, NC
1,506,773
I'm with Jill Murty, Realtor - Orange County, CA on this one. Paying up front in CA is usally a red flag of a tenant to avoid. I've turned people down because of this.
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Debe Maxwell, CRS
Charlotte, NC
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Lyn Sims
Schaumburg, IL
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Kevin J. May
Hobe Sound, FL
531,677
I once had a tenant propose that to a landlord - the landlord credited him 1 month.
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Kevin J. May
Hobe Sound, FL
1,242,204
People suggest it until they do not have $120,000 cash +10,000 deposit=$132,000...
Talk is cheap....
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Kevin J. May
Hobe Sound, FL
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Debe Maxwell, CRS
Charlotte, NC
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Lyn Sims
Schaumburg, IL
922,883
That is against the law in Connecticut.
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Barbara Todaro
Franklin, MA
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Kevin J. May
Hobe Sound, FL
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David Popoff
Darien, CT
913,968
None.
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Kevin J. May
Hobe Sound, FL
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Debe Maxwell, CRS
Charlotte, NC
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Barbara Todaro
Franklin, MA
5,583,328
I don't think that's allowed in MA...
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Kevin J. May
Hobe Sound, FL
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
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Valeria Mola
Sunny Isles Beach, FL
5,879,125
I don't do rentals, so busy reading comments.
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
74,695
117,135
None, in my view. i would keep in an escrow account and take the monthly rent as it comes in.
You are still getting the same income as you would have over the course of a year. You have security of getting the rent paid, but if you are asking a fair market rate, no need to come down on the price.
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
509,449
I have not seen any discount. What I've seen is tenant paying the entire year upfront to compete with other strong applicants.
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
3,988,013
5-10% though we don't offer either on our rental properties.
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
2,817,727
10-15%. Probably 10% is fine. A lot of online places offer 15% for annual payment (e.g. email/CRM programs, web tools).
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
971,183
As a landlord, I take off 10%.
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
4,434,177
1,712,876
I agree with Kathleen Daniels.
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
1,153,794
I cannot express my appreciation enough for all of the excellent responses. The numeric piece is pretty well determined although now my interest is leaning more toward the WHY also. ActiveRain Rules!
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Michael Jacobs
Pasadena, CA
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Steve Higgins
Kelowna, BC
4,800,132
I would guess 5%.
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
613,494
NONE.
The only time I have been offered a years rent up front is when the potential tenant has some risk or something else going on that did not make them an "A" rated tenant.
What happens the next year?
All my tenants stay for more than a year and I am too picky and never desperate to take the bait.
Eve
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
3,416,038
I try to get away with 5 with my tenants but some i go to 10%,
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
4,319,773
Maybe, a month, Kevin J. May.
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Michael Jacobs
Pasadena, CA
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Kevin J. May
Hobe Sound, FL
3,168,134
No discount in my previous managment practice, it was a requirement for people with crappy credit though.
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Kevin J. May
Hobe Sound, FL
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Debe Maxwell, CRS
Charlotte, NC
704,949
Maybe one month free. Amounts to about an 8-9% discount.
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Kevin J. May
Hobe Sound, FL
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The Villages Realty
San Jose, CA
3,986,308
I would not give one. I still have bills that are not discounted
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Kevin J. May
Hobe Sound, FL
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Eve Alexander
Tampa, FL
2,785,306
Why discount? The owner gets it any which way.
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Debe Maxwell, CRS
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
808,679
I have never encountered this with any of my tenants but would probably offer a free month.
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Debe Maxwell, CRS
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
716,529
Interesting...
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Debe Maxwell, CRS
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
991,652
I've never had a tenant ask this - I would probably give 1 month
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Kevin J. May
Hobe Sound, FL
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Debe Maxwell, CRS
Charlotte, NC
7,870,209
Interesting answers. I have not faced issue.
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Debe Maxwell, CRS
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
2,684,769
One month "free" rent.
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Debe Maxwell, CRS
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
216,904
I have seen a landlord deny any discount; stating the reason the tenant has to pay upfront is because of poor history or risk. One landlord stated that if there were not any issues after tenant departure, he would credit them back. He did have issues...lol
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Debe Maxwell, CRS
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
1,728,667
519,324
Whatever you can negotiate for yourself. "Fair" is a place where you can play games and ride a roller coaster. The landlord may welcome it and be in need, therefore offering a larger discount than expected or have reason to want the income more evenly distributed and not want a windfall.
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Kevin J. May
Hobe Sound, FL
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Debe Maxwell, CRS
Charlotte, NC
5,772,957
Kevin,
It is up to you and whatever laws govern this in your state. A
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Kevin J. May
Hobe Sound, FL
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Nina Hollander, Broker
Charlotte, NC
2,195,069
4,583,990
The bigger question is why? Red flag alert in my world.
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Kevin J. May
Hobe Sound, FL
2,458,648
I represented a landlord and a tenant made an offer to pay the entire first year up front at 5% off the list price. That worked.
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Kevin J. May
Hobe Sound, FL