This is a new area for me so suggestions are helpful:
A tenant of mine is moving out and we have an application from a member of a NATO military country which is applying to rent a home from us. 4BR SFH
The rent is within their cap of $3600/month and the foreign consulate will pay the rent/sign the lease.
The realtor told me the military clause will apply so if the person gets orders, then there is 30 days after the next rent is due as a notification period. The lease is otherwise a 3+ year lease and I assume the BAH annual increases will apply.
Any thoughts or suggestions? We could rent to a local family which also wants a long term lease. Needless to say, somewhat surprised (in a positive way from a landlord’s perspective) about the amount of rent available. But just tying to think through any downside. Right now, doesn’t seem to be any but am open to hear experiences from others.
How easy is it to hold the foreign consulate to any damages that their tenant may cause?
You might want to ‘adapt’ your standard lease to be more representative because it looks almost like a sublet where you are actually leasing to the foreign consulate who is then sub-letting it to their person.
The other issue is the 30 days after next rent is due for notification period – which basically means no notice at all.
Don’t assume BAH annual increase – any increases should be written into contract.
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