Renting a villa while it is for sale

[SusanNJ]

I am looking at a villa that is up for sale. I contacted the villa rep and she said that we would have a minimum of a 24 hour notice and only need to vacate for 1 hour if they need show it while we are there. Is it a bad idea to rent a villa while it is for sale? Has anyone have this happen to them? We wouldn't rent it until about a year from now so I am slightly concerned - any help is appreciated!

[Xislandgirl]

We have rented several houses that were sale and there was never a showing while we were there.

I am sure Pia can give you a better handle on the market and buyer traffic on island, but I am guessing that with all the properties for sale, the chances that there would be more than 1 showing at a property in a week is pretty low.

[sailorgirl]

I would be concerned about the new owner honoring the reservation. You would certainly get your money back but it might leave you high and dry without a place to stay .

[Xislandgirl]

I would be concerned about the new owner honoring the reservation. You would certainly get your money back but it might leave you high and dry without a place to stay .

In many cases, the sales listing will include a clause saying that all rentals in place at time of closing are to be honored. Just call the management company and ask that question.

I will again defer this answer to Pia, but I think most houses are on the market well in excess of a year.

[rpplano]

We went through this in 2008 when TimeOut sold. Our booking was not only honored, it was appreciated. Most villa buyers are counting on those existing bookings to help cover the overhead.

[SusanNJ]

In many cases, the sales listing will include a clause saying that all rentals in place at time of closing are to be honored. Just call the management company and ask that question.

I will again defer this answer to Pia, but I think most houses are on the market well in excess of a year.

Thank you everyone - I will definitely raise the question about the clause and rental honors, etc.

[Sumerwaters]

I have rented at villas that have been for sale several times. Once the villa was even shown while we were there. Usually it is a short visit accompanied by the owners during the day. It did't matter to us as we are usually out and about during normal business hours.