Rental Suggestions

[GoUSC]

I am looking to move into another house to rent. Is the market such that you can counter asking rents? The house I am looking at is a 2 bedroom, 1 bath in Mission Hills. They are asking $1975 and I was thinking of offering $1700. Thoughts?

[Raybyrnes]

Radelow

I did a lot of searching around before I found a place. What I learned through the process is that you are in the drivers seat at the moment as there are not a lot of people moving around at this point in the year. If they don’t rent the place now they could likely be holding the property until April or May.

Professional management companies understand this and that is why they offer incentives and discounts like 1 month of rent free, no down payment etc. Individual owners are not always as bright and sometimes will sptie themselves by not renting even though it is too their disadvantage.

If you are going to offer 1700 a month you may want to present the offer as $20400 for the year divided into monthly payment of $1700. It might help the owner understand that the property is about yield and if he forgoes 1 month of yrent holding out for a higher price it could potentially work against him.

12*1700=$20400
Miss 2 months rent waiting
10*1975=$19750

This does not even factor good credit reisk and rental history vs bad credit and rental history.

[Raybyrnes]

Radelow

I did a lot of searching around before I found a place. What I learned through the process is that you are in the drivers seat at the moment as there are not a lot of people moving around at this point in the year. If they don’t rent the place now they could likely be holding the property until April or May.

Professional management companies understand this and that is why they offer incentives and discounts like 1 month of rent free, no down payment etc. Individual owners are not always as bright and sometimes will sptie themselves by not renting even though it is too their disadvantage.

If you are going to offer 1700 a month you may want to present the offer as $20400 for the year divided into monthly payment of $1700. It might help the owner understand that the property is about yield and if he forgoes 1 month of yrent holding out for a higher price it could potentially work against him.

12*1700=$20400
Miss 2 months rent waiting
10*1975=$19750

This does not even factor good credit reisk and rental history vs bad credit and rental history.

[Raybyrnes]

Radelow

I did a lot of searching around before I found a place. What I learned through the process is that you are in the drivers seat at the moment as there are not a lot of people moving around at this point in the year. If they don’t rent the place now they could likely be holding the property until April or May.

Professional management companies understand this and that is why they offer incentives and discounts like 1 month of rent free, no down payment etc. Individual owners are not always as bright and sometimes will sptie themselves by not renting even though it is too their disadvantage.

If you are going to offer 1700 a month you may want to present the offer as $20400 for the year divided into monthly payment of $1700. It might help the owner understand that the property is about yield and if he forgoes 1 month of yrent holding out for a higher price it could potentially work against him.

12*1700=$20400
Miss 2 months rent waiting
10*1975=$19750

This does not even factor good credit reisk and rental history vs bad credit and rental history.

[Raybyrnes]

Radelow

I did a lot of searching around before I found a place. What I learned through the process is that you are in the drivers seat at the moment as there are not a lot of people moving around at this point in the year. If they don’t rent the place now they could likely be holding the property until April or May.

Professional management companies understand this and that is why they offer incentives and discounts like 1 month of rent free, no down payment etc. Individual owners are not always as bright and sometimes will sptie themselves by not renting even though it is too their disadvantage.

If you are going to offer 1700 a month you may want to present the offer as $20400 for the year divided into monthly payment of $1700. It might help the owner understand that the property is about yield and if he forgoes 1 month of yrent holding out for a higher price it could potentially work against him.

12*1700=$20400
Miss 2 months rent waiting
10*1975=$19750

This does not even factor good credit reisk and rental history vs bad credit and rental history.

[Raybyrnes]

Radelow

I did a lot of searching around before I found a place. What I learned through the process is that you are in the drivers seat at the moment as there are not a lot of people moving around at this point in the year. If they don’t rent the place now they could likely be holding the property until April or May.

Professional management companies understand this and that is why they offer incentives and discounts like 1 month of rent free, no down payment etc. Individual owners are not always as bright and sometimes will sptie themselves by not renting even though it is too their disadvantage.

If you are going to offer 1700 a month you may want to present the offer as $20400 for the year divided into monthly payment of $1700. It might help the owner understand that the property is about yield and if he forgoes 1 month of yrent holding out for a higher price it could potentially work against him.

12*1700=$20400
Miss 2 months rent waiting
10*1975=$19750

This does not even factor good credit reisk and rental history vs bad credit and rental history.

[4plexowner]

Don’t broach the subject of lower rent when talking to owner/landlord

If you really are interested in the place submit a cover letter with your rental application – explain to the owner why you are an exceptional tenant – don’t try to justify the lower rental rate – just state that $1700 is what you are willing/able to pay and would love to hear from them if they are interested – I like the idea of showing the annualized rent

Don’t expect to hear anything for awhile but don’t be surprised if they call you before Christmas to set a move-in date

[4plexowner]

Don’t broach the subject of lower rent when talking to owner/landlord

If you really are interested in the place submit a cover letter with your rental application – explain to the owner why you are an exceptional tenant – don’t try to justify the lower rental rate – just state that $1700 is what you are willing/able to pay and would love to hear from them if they are interested – I like the idea of showing the annualized rent

Don’t expect to hear anything for awhile but don’t be surprised if they call you before Christmas to set a move-in date

[4plexowner]

Don’t broach the subject of lower rent when talking to owner/landlord

If you really are interested in the place submit a cover letter with your rental application – explain to the owner why you are an exceptional tenant – don’t try to justify the lower rental rate – just state that $1700 is what you are willing/able to pay and would love to hear from them if they are interested – I like the idea of showing the annualized rent

Don’t expect to hear anything for awhile but don’t be surprised if they call you before Christmas to set a move-in date

[4plexowner]

Don’t broach the subject of lower rent when talking to owner/landlord

If you really are interested in the place submit a cover letter with your rental application – explain to the owner why you are an exceptional tenant – don’t try to justify the lower rental rate – just state that $1700 is what you are willing/able to pay and would love to hear from them if they are interested – I like the idea of showing the annualized rent

Don’t expect to hear anything for awhile but don’t be surprised if they call you before Christmas to set a move-in date

[4plexowner]

Don’t broach the subject of lower rent when talking to owner/landlord

If you really are interested in the place submit a cover letter with your rental application – explain to the owner why you are an exceptional tenant – don’t try to justify the lower rental rate – just state that $1700 is what you are willing/able to pay and would love to hear from them if they are interested – I like the idea of showing the annualized rent

Don’t expect to hear anything for awhile but don’t be surprised if they call you before Christmas to set a move-in date

[(former)FormerSanDiegan]

I like 4plexowners’ ideas. But, as a landlord, I can tell you that they likely already understand that a $200 drop in rent is better than 2 more months of vacancy in terms of annual gross. If they do not understand this, then they will not likely agree to your offer anyway, because they are either bad at math or weigh other factors more heavily than optimizing income.
Believe it or not, there are sometimes valid temporary reasons for holding out for higher monthly rent and accepting a bit more vacancy taking less annually.

[(former)FormerSanDiegan]

I like 4plexowners’ ideas. But, as a landlord, I can tell you that they likely already understand that a $200 drop in rent is better than 2 more months of vacancy in terms of annual gross. If they do not understand this, then they will not likely agree to your offer anyway, because they are either bad at math or weigh other factors more heavily than optimizing income.
Believe it or not, there are sometimes valid temporary reasons for holding out for higher monthly rent and accepting a bit more vacancy taking less annually.

[(former)FormerSanDiegan]

I like 4plexowners’ ideas. But, as a landlord, I can tell you that they likely already understand that a $200 drop in rent is better than 2 more months of vacancy in terms of annual gross. If they do not understand this, then they will not likely agree to your offer anyway, because they are either bad at math or weigh other factors more heavily than optimizing income.
Believe it or not, there are sometimes valid temporary reasons for holding out for higher monthly rent and accepting a bit more vacancy taking less annually.

[(former)FormerSanDiegan]

I like 4plexowners’ ideas. But, as a landlord, I can tell you that they likely already understand that a $200 drop in rent is better than 2 more months of vacancy in terms of annual gross. If they do not understand this, then they will not likely agree to your offer anyway, because they are either bad at math or weigh other factors more heavily than optimizing income.
Believe it or not, there are sometimes valid temporary reasons for holding out for higher monthly rent and accepting a bit more vacancy taking less annually.

[Author]

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