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Would you prepay a year's rent?


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interesting responses. i pay my rent 2 years in advance and i maintain the house and pay all bills except property taxes. i see the landlord, a mexican citizen, once every 2 years when its time to pay the rent. been doing this for 10 years, works well. and the landlord and i get along fine. so maybe there are exceptions. 

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33 minutes ago, wanderer said:

interesting responses. i pay my rent 2 years in advance and i maintain the house and pay all bills except property taxes. i see the landlord, a mexican citizen, once every 2 years when its time to pay the rent. been doing this for 10 years, works well. and the landlord and i get along fine. so maybe there are exceptions. 

Yes, the exception definitely proves the rule. Most of the other renters in the building we were in loved the place and were happy to get something a block from the PV Romantic Zone for $8400 US a year. We didn't care for the noisy pool parties and the "Art Vallarta" studio that took up the whole first floor with rookies coming in to learn to be potters. We failed to do our homework and paid the price but are still good friends with the owner.

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Haha, yeah well I for one refuse to think of myself as a victim. Nobody's fault but my own and when you pay your dues, move on and laugh at yourself life is much easier. But for sure there are enough "victims" running around in this world, lol.

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9 minutes ago, pappysmarket said:

Haha, yeah well I for one refuse to think of myself as a victim. Nobody's fault but my own and when you pay your dues, move on and laugh at yourself life is much easier. But for sure there are enough "victims" running around in this world, lol.

Your experience pales in comparison to what the OP could find in her future.

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The OP has an ill husband and doesn't need the possible hassle if it goes south.

 

I have negotiated multi-year pay-in-advance leases here several times.  The price reduction is generally 30%.  The tenant is responsible for all maintenance unless I specifically require it be done.  They do their own fix-its like running commodes and hot water pilot lights and garbage disposal jams.  We replace actually broken appliances etc...but not the toilet seat. It works but you have to know who is who and what they can do.  They also cannot be new to the area and we run a US credit check and require three month deposit. Because there is no first, last and deposit on a year pay lease.

 

 

 

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It seems like this would work only if you had a high level of justified trust in the landlord, e.g., if you know him well and/or know his family, friends, etc. But it sounds like you already have your doubts. So that inner voice that says "no" is probably right. 

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30 minutes ago, mexicoblue said:

I had a friend who did this and then she died 3 months into the year.  Her family was not able to recover the prepaid rent.

 

I can think of no reason to rebate the family under any circumstances here or NOB.

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5 minutes ago, gringal said:

How about basic honesty?

For what? The now deceased rented another's asset for a period of a year at a reduced price. The heirs probably have the right to occupy, but rebates don't happen, security deposits refunds do.

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53 minutes ago, AngusMactavish said:

For what? The now deceased rented another's asset for a period of a year at a reduced price. The heirs probably have the right to occupy, but rebates don't happen, security deposits refunds do.

Figured you'd dodge it.  Not disappointed.  TOO basic,eh?  😎

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20 minutes ago, AngusMactavish said:

Basic as in dumb?

No, not dumb.  There is doing what the law allows and there is doing the right thing; not necessarily the same, but this is a matter which has been debated by scholars and politicians for centuries.....so no point in going further. Have a good one.😉

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I have a friend who paid a year in advance here and it worked out well for him. He did it because he is retired and monthly bills annoy his retirement.

I don't know if they still do it, but Lloyds used to pay all my bills (rent, electric, Telmex, etc) for me.

But, you need to review the statements. It turned out my neighbor had tapped into my electric for 6 months and I did not see the drastic change in my electric.

There are ways to effect auto-bill-pay without having to pay in advance and be stuck, should and unfortunate situation occur... like a tree crashing through your roof and you can't live there for a while.

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5 hours ago, AngusMactavish said:

I can think of no reason to rebate the family under any circumstances here or NOB.

How about because the landlord could rent the property to someone else for the remainder of the lease? I sold and managed real estate NOB in my misspent youth. We would have rebated any monies we were able to get from new tenants. Just the ethical thing to do.

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I would assume an heir or other relative would be in contact with the owner. They might ask if they can occupy for the remainder of the paid for time, they might ask if the owner would like to buy them out of the remainder, they might ask the owner if he would try to re-rent and give them part or all of that rent. What the owner probably should not do, at least right away, is stick his nose in where it has not been requested. It's paid for and he shouldn't hide but neither does he need to go to great lengths to make contact. I agree with Angus.

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