Minimum Lease Length?

irvine_home_owner_IHB

irvine_home_owner_IHB

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Is there some law regarding the minimum amount of time a lease from the MLS due to broker commissions?



I was told it either has to be 1 year or month-to-month (which how would they figure broker fees from the latter).



Is there a possibility of 6-month or 9-month leases?
 
[quote author="irvine_home_owner" date=1228145828]Is there some law regarding the minimum amount of time a lease from the MLS due to broker commissions? <span style="color: red;"><strong>No minimum or maximum to my knowledge. Definitely not due to broker commissions.</strong></span>



I was told it either has to be 1 year or month-to-month (which how would they figure broker fees from the latter). <span style="color: red;"><strong>Any length you wish, and any fee schedule you wish, too. See item 2C and item 3A(1a)</strong></span>



Is there a possibility of 6-month or 9-month leases? <span style="color: red;"><strong>Yes, any length you wish.</strong></span> </blockquote>


When in doubt, refer to your contract:

For the lease listing agreement the listing terms you asked about are highlighted in green.

The compensation terms are highlighted in red.

Arm yourself.

<img src="http://irvinerealtorsite.com/leaselistingagreement.JPG" alt="" />



Hope this helps.

-IR2
 
That's what I thought... but the owner's agent we are trying to lease from is arguing otherwise, stating that you can only do one year or more... or month-to-month... not in between.



Methinks this is related to their commission structure... as in they want a minimum of a year.



I feel this is all very shortsighted on their part, because for the rental amount they are charging, a 9-month lease will get them a commission similar to 1-year leases elsewhere. And... this allows the owner to re-lease during a better time (Aug/Sep) rather than the slower part of the year (Nov/Dec).



Argh.
 
[quote author="irvine_home_owner" date=1228176395]That's what I thought... but the owner's agent we are trying to lease from is arguing otherwise, stating that you can only do one year or more... or month-to-month... not in between.



Methinks this is related to their commission structure... as in they want a minimum of a year.



I feel this is all very shortsighted on their part, because for the rental amount they are charging, a 9-month lease will get them a commission similar to 1-year leases elsewhere. And... this allows the owner to re-lease during a better time (Aug/Sep) rather than the slower part of the year (Nov/Dec).



Argh.</blockquote>


Aha. Sorry, I thought you were on the other end of the transaction. As the tenant, you do have to work with what the landlord agrees to.

Use your power of persuasion... "These are not the [strike]droids[/strike] terms you are looking for."
 
I am trying to work with them... but their agent is the one who is saying that there is some California law that it has to be 1-year or month-to-month, any length in between is not a valid contract and would basically default to month-to-month which would mean the owner has a disadvantage since we could vacate any time within the 6 or 9 months. So the owner thinks they are taking on additional risk.



I'm thinking bull-hickey but I'm not a CA RE lawyer.
 
[quote author="irvine_home_owner" date=1228182856]I am trying to work with them... but their agent is the one who is saying that there is some California law that it has to be 1-year or month-to-month, any length in between is not a valid contract and would basically default to month-to-month which would mean the owner has a disadvantage since we could vacate any time within the 6 or 9 months. So the owner thinks they are taking on additional risk.



I'm thinking bull-hickey but I'm not a CA RE lawyer.</blockquote>


Neither am I, but methinks the agent is full of BS. Although I have heard of some cities (Berkeley, for example), that won't allow two year leases. These might default to one year. But I can't see any public policy reason to prevent two contracting parties to agree to a say, a 7-month lease.
 
[quote author="JLegend" date=1228187014][quote author="irvine_home_owner" date=1228182856]I am trying to work with them... but their agent is the one who is saying that there is some California law that it has to be 1-year or month-to-month, any length in between is not a valid contract and would basically default to month-to-month which would mean the owner has a disadvantage since we could vacate any time within the 6 or 9 months. So the owner thinks they are taking on additional risk.



I'm thinking bull-hickey but I'm not a CA RE lawyer.</blockquote>


Neither am I, but methinks the agent is full of BS. Although I have heard of some cities (Berkeley, for example), that won't allow two year leases. These might default to one year. But I can't see any public policy reason to prevent two contracting parties to agree to a say, a 7-month lease.</blockquote>


Agreed - See the green box above: Item 2C "other" seems to fit the bill.
 
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