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Veronica, Home Buyer in Jacksonville, FL

How would you go about negotiating the rental price on a property?

Asked by Veronica, Jacksonville, FL Sat Jun 27, 2009

My husband and I our looking to rent a decent home. It seems as though everywhere we look the prices are way out of our budget.

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Hi Veronica -- You'd negotiate this the same way you would any other issue. Present your proposal in such a way that it 's a win/win for you and the landlord. For instance, if you want to lower the monthly rent amount, you may offer to cut the grass once a week (instead of having the landlord do it) or forego the home being repainted inside, or something else the owner might be paying for that you wouldn't mind doing yourself (or putting up not being done).

I find I'm much more successful when I can offer something in return, rather than just asking for a reduction. Of course you have to be prepared to do the work--if the owner ends up sending over a yardman to cut the grass after you've agreed to do it, that will probably come out of your security deposit if the lease is written properly.

Needless to say, a pleasant attitude and good references mean a lot to a landlord, especially one that isn't renting through a property management company. If you've got a good relationship with your past landlord and they'll give you a glowing reference that you paid your rent on time and didn't bother them for every little thing, you should point that out. As a landlord myself, I can tell you that a good tenant is somebody I work hard to keep.

Good luck--it never hurts to ask.

Louise Warring,
Coldwell Banker Residential Real Estate
1 vote Thank Flag Link Sat Jun 27, 2009
Veronica,
In some cases, the homeowner is renting because they cannot sell. Many will price their homes to rent just to cover their expenses, others attempt to also make money. It never hurts to ask the homeowner if they are negotiable. If you have good credit and good references without additional issues such as pets, etc... the homeowner may be willing to work with you.
Good luck and when you are ready to buy a home, please fell free to call with any questions or for any help!
1 vote Thank Flag Link Sat Jun 27, 2009
Use the other properties that have rented as comparisons, and negotiate from there. It is not unusual for prices in coastal communities in desirable neighborhoods to seem high priced. Unfortunately, many lower priced homes for rent are not in very good shape--Check the local paper, and another place where there's been a lot of success is to look on Craigs list--If a private individual is renting out his property and not paying a property manager, they can afford to rent it for less. Good luck,

Myke Triebold, GRI, CNAS
850-305-6256
MykeSaysSold@aol.com
http://www.MykeTriebold.com
1 vote Thank Flag Link Sat Jun 27, 2009
Veronica,
Some properties that are for sale will also consider a "lease purchase". This way you rent the property for a year before you close on the sale. This gives you time to correct any credit issues you may have that prevent you from purchasing a home now. It also gives you time to see if you like the area well enough to buy.

If you are a first time home buyer with a credit score of at least 640 you may qualify for down payment assistance of up to $24999.00. This means you could purchase a home for less than you would be paying in rent. If you close on the sale before Dec 1, 2009 you will also probably be eligible for the IRS tax credit of up to $8000 that would help you pay off other debt or make your house payment for a while.

If you are looking for a Realtor to advise you of your options, please feel free to contact me at bkgravitt@gmail.com.

Brenda Gravitt CRS, GRI
Coral Shores Realty
bkgravitt@comcast.net
0 votes Thank Flag Link Mon Jun 29, 2009
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