After signing a rental agreement, the rental costs are set in stone until the end of the contract. In an emerging area where real estate values continue to grow, 12 months of fixed rents could cause you to miss a significant increase in market income. According to the Home Buying Institute, the average U.S. house price increased by 8.1% last year and prices are expected to rise by 6.5% over the next 12 months. This forecast was published in July 2018 and runs until the summer of 2019. When a party wishes to enter into an agreement with a management company, it must be aware that it is a complex legal and commercial relationship that requires understanding the essential difference between a commitment to a management contract and participation in a hotel lease. Among the considerations that parties face in engaging a property owner with a management company are the pros and cons: a lease agreement can be a good option for owners who focus on flexibility, especially in areas where fast rental rates are generated, such as college towns.B. A rental agreement is ideal for a tenant who cannot commit to a 12-month rental period. It can open the door to many qualified tenants looking for short-term rent that can be in high demand near university campuses or large hospitals.
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