House sitting foreclosed homes...

I just recently read a good article by Phoebe Chongchua on Realty News about the growing phenomenon of house sitting in foreclosed homes. Vacant homes often don’t appeal to buyers and are susceptible to vandalism; so, these days, some real estate companies are suggesting house-sitters to help keep the home maintained and give it a lived-in feel. I haven’t seen this being used in my area. I’ve seen news stories about squatters occupying vacant houses but not official house sitters.

According to Chongchua, the house-sitting strategy is being used with foreclosed homes and involves allowing people to live in the property for little rent (some as low as $400 per month) in exchange for house-sitting the residence. Typically, the house-sitters or caretakers are responsible for keeping up the home, paying for utilities, and any homeowners’ association fees. They aren’t usually offered a lease term and they’re required to move out with as little as five days’ notice if the home sells. It’s not for everyone, but house sitters call it a win-win situation for people seeking less expensive rent and for owners of vacant properties.

The details of what the house sitters are responsible for vary depending on the agreements between the homeowner and house-sitter or company that’s helping fill the residence, but generally the house-sitters are expected to perform a variety of household tasks. Basically the tasks are things that most homeowners either do or hire someone to do for them, such as, cleaning furnace filters, fixing dripping faucets or toilets, changing light bulbs, removing their own accumulated trash, as well as helping to care for the yard. House-sitters are not allowed to bring pets or smoke in the home.

Some companies such as Homes in Transition, a house sitting company based in Albuquerque, New Mexico, offer the house-sitter the option of paying into a monthly maintenance service program so that when household problems occur, the general contractor associated with the company can fix them. The service program follows the house-sitter. So, when relocation occurs the services are then transferred to the next property the house-sitter moves into. Read the whole article at www.tinyurl.com/d5yvvt.

I suppose that, if I were a house sitter I might get tired of the quick notices to move out when the place sells; but maybe that fits into their lifestyle.Are you seeing this in your areas? How’s it working out?