Can you help me secure this rental home?

[Alicia64]

I'll take any advice you have. We're in a new community and I have searched for months for a rental house that isn't a stomach-turner for one reason or another.

 

I found an awesome house -- I love it. The owner is asking over what the market will bear. We're the only one who has shown any interest in it -- and it's been advertised now for two weeks.

 

I offered $350 under what the owner was asking. It put us at the very top of our ability to pay. But we could do it. His rental agent said "he'd come to the middle of what he wants and what we want."

 

We weren't trying to negotiate -- we were just saying, "here's what we can do." It's a fair price. But his "middle" is still $175 over what we can pay.

 

So I had to say good bye.

 

Do you have any suggestions at all for how I could sweeten the deal for the owner? I'm so sad to lose the house. I'll try anything.

 

Right now there are renters in it -- and it looks awful. At least on the outside. But the house has good bones so I know I could make it nice. And it has a huge backyard.

 

Any ideas? And TIA! (I want to emphasize -- there's a property management agent in the middle. I've never spoken w/ the owner.)

 

Alley

[Princess Peach]

One thing that could work is to tell them you'll do yard work and snow removal if the rent could be $XXXX. We did this and it worked for us because we had a lawnmower/snowblower and because our landlord otherwise had to pay someone for yard work and plowing. So it was a win-win for both of us.

[Dobela]

Property managers usually get paid a percentage of the rent each month so they are not going to be on your side.

 

Yuo are asking for a big drop in rent, and honestly the owner may not be able to drop that much. If it looks awful, it may also mean that he is not able to maintain it. Or not willing. I would move on and keep trying.

[West Coast Mom]

Offer to sign a two year lease at the price you want. Often landlords will cut a deal for a longer contract.

[Alicia64]

Offer to sign a two year lease at the price you want. Often landlords will cut a deal for a longer contract.

 

I should have added: that's what I did. I offered the lower price for a three-year lease.

 

Dobela -- Yes, I very aware that the agent isn't on our side. Frustrating. It would easier to deal w/ the owner.

 

Thanks,

 

Alley

[Teachin'Mine]

I'd list a few outside projects that need doing and offer free labor if the owner will supply the materials. But this will be hard to pass along through the property management. Could you look up the owner info in the tax records and contact them directly? If you could get any kind of reference about how you've kept rental properties in good shape in the past, that might help too. Owners don't like to see their properties get run down by renters, so that might be worth a bit of a cut in rent.

[Trilliums]

Is anything included in the rent such as yard care? Trying to negotiate on services like that is probably the best approach. Otherwise, it seems like a big drop in the price, although admittedly, we do not know the rental price. It may be that the landlord simply cannot go lower, but it does reach a point where getting it rented out is a priority. Just stay firm with what you can afford, present yourselves as excellent renters, and hope for the best.

[chepyl]

We would not have been able to pay our mortgage if we had dropped the rent that much on our house. If the owner lives out of town they have a Mgmt company because they cannot deal with the house from a distance. Mgmt companies are not likely to negotiate on trade for rent. At least that is my experience from working for one and using.one for a rental we owned, and renting from different companies for years. I would just look elsewhere for a house that is already in your price range.

[ChristineW]

The only thing that you can really do is wait. Once the current tenants are out and the owner doesn't have the $ coming in, he might be more willing to negotiate. Or he might not.