Our Guaranteed Rental

• Bob Lucido Team and Builder’s buyer herein after referred to as landlord must mutually agree on a rental amount per month that will be the rental guarantee. This would be market value and what the home would rent for in a 30 day period of time. In this example, we will use the guaranteed rental amount of $2,000.00 per month for example purposes only.
  
• Landlord must agree to monthly rent reductions of $100 per month until the home is leased. The guaranteed rental amount of $2,000.00 to be paid until a tenant is secured and rent is received from Landlord. ($2,000 per month to be reduced each month to be consistent with the advertised monthly rent that is being reduced $100 per month.)
  
• The guarantee will begin 30 days after settlement of the new home. If rent is not paid on the 31st day, the guaranteed rent of $2,000.00 per month (to be reduced each month by $100) will kick in and will be paid each month for 12 consecutive months until a tenant is secured.
  
• Landlord must not put undue restraints on accepting a tenant. If a tenant has reasonably good credit, they must be considered as a rental candidate.
  
• For the home to be accepted into the rental guarantee program, there are conditions that apply:
  
  • The home must be marketable. The home must have functionality to it, is in a convenient location and it is well kept and livable. Overall, it must be consistent with other rentals on the market. Not all homes are eligible for the program and Bob Lucido reserves the right in his sold and absolute discretion to accept or decline any property into the program.
    
  • After the first day the rent is received, the guaranteed rent payment of $2,000.00 would stop as of that day. Any rent that is doubled-up, the guaranteed rent payment would be credited back in the event it is paid for a particular month and a tenant is secured in the middle of the month. The Landlord cannot collect (2) rent payments. The guaranteed rent payment to decrease each month according to rental reduction schedule.
    
  • All advertising and any co-op fees (if any) to be paid by the Bob Lucido Team.
    
  • Landlord agrees that if any time within the next 36 months after a tenant has been secured for the home that the Landlord is desirous of selling the home, they agree to use ReMax Advantage Realty and the Bob Lucido Team with a full 6% commission and for a minimum time period of 6 months.
    
  • The Landlords fee to the Bob Lucido Team shall be $2500 to be paid up front upon agreeing to enter into the program. All fees are non-refundable.
    
  • Builder’s fee of $5000 is due upfront before commencement of the program and is also non-refundable.
    
  • After lease is ratified and the first month’s rent has been paid, the guaranteed rent program shall end. BLT shall have no further obligation.
    
• The Objective of the Guaranteed Rental Program is to secure and guarantee a consistent cash flow to the Landlord so they can be non-contingent and able to purchase a new home and settle with a builder.
  
• If a home is guaranteed and not rented at $2000 per month and is vacant for 6 months, the Bob Lucido Team would be responsible for $10,500 of rent.

This is an example only:

Month 1 - $2,000
Month 2 - $1,900
Month 3 - $1,800
Month 4 - $1,700
Month 5 - $1,600
Month 6 - $1,500
Total $10, 500