OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®
Luxury Fixer-Uppers for Cheap, But You Can’t Stay
Daily Real Estate News | Wednesday, July 27, 2011
Home Caretakers International is a Tampa, Fla.-based firm that finds caretakers willing to rent foreclosed properties at a reduced rate. These caretakers make minor repairs, mow the lawn, and do some deep cleaning so that the home can eventually be sold. [. . .] a portion of the monthly fees covers cleaning costs. However, caretakers must cough up the money for any minor repairs. "Believe it or not, there are a lot of people out there willing to put in sweat equity for a reduced cost of living," says Michael Shelton, the company's marketing director. He says caretakers pay about $600 per month for a home that would rent for $1,000, and one couple is spending $1,500 to live in a waterfront home in St. Petersburg that would rent for more than $3,000.