I have become much more sophisticated in my lease negotiations. I have added a stipulation that the home cannot be placed on the market while we are living there. But then my LL stopped paying to try for a loan mod (and got it).
I then added in that a NOD invalidates the lease at my option and a NTS means we don’t have to pay rent (with no rent accruing) until we get our security deposit back.
I don’t want a LL who won’t agree to those terms as they will have a hidden agenda. And we present a upside to them because we have very high FICOs and references.
I now have the ultimate flexibility with my lease, I negotiated all the above over a long term but with a 1 month kickout clause (I pay the equivalent of 1 mo rent to break the lease). I feel that for my particular situation it is ideal. I can make bids at my leisure and know the cost to me if get one accepted.
When you get the homeowner who is trying to wait out the market they are very optimistic/unrealistic so negotiating many of the above terms are a non-issue. This puts you instead of them in the driver seat if the situation changes or they have an epiphany.
