Rentals in 10506>Question Details

Orjetorix, Renter in Westchester County, NY

Are rental list prices inflated? I'm hearing of quite a few SFHs that list at $3200-3500 but actually rent at $2800 or lower, both upper/lower

Asked by Orjetorix, Westchester County, NY Thu Jan 26, 2012

WC.

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Thanks all for answers. @Christopher Pagli: is past rental info available online? I've only found it for home sales.
0 votes Thank Flag Link Thu Jan 26, 2012
Hi, they vary from area to area but in essence they are only worth what a tenant is willing to pay. Every situation will be different so it's hard to say if they are all inflated. What I typically do is look at what comparable properties have rented for in the past 6 months, this will give you an idea of how the home is priced. Some landlords may take a little less if theyb are in a rush or feel they have a very well qualified tenant that they don't want to lose.

Chris
0 votes Thank Flag Link Thu Jan 26, 2012
Not sure one can say any rental prices are inflated; generally much will also depend on supply and demand for any specific area; if looking to rent in the near future, do consider working with an agent of your own....
0 votes Thank Flag Link Thu Jan 26, 2012
In Northeast OH, there appears to a shortage of homes for rent at various price points. Relocations into our area and those who cannot obtain loan approval to purchase a home are competing for the same homes.
0 votes Thank Flag Link Thu Jan 26, 2012
Hi: I can provide for you a unique value analysis for your segment. The key information you need is the following: 1) Post Office, School District & property type; 2) Number of active listings, price per square foot, & average price per square foot; 3) Number of rented listings in the past 12 months, price per square foot, & average price per square foot. That is all easy for me to assemble & create a spreadsheet for you. Once you have that information, I can easily help you figure out how much negotiability there is in your search segment. And every segment is different. If you want to talk more, please call me at 914-273-9688. Thanks. I look forward to speaking with you soon. Have a great day. Sincerely, Michael F. Levy, Principal Broker, Grand Lux Realty. BTW, we're looking for more agents & offer a 70% split with no fees. If you know anybody who might be interested, I'll pay you up to $1,000 each for your agent recruits.
0 votes Thank Flag Link Thu Jan 26, 2012
Actually the rental market in Westchester is quite strong. I wouldn't say they are "inflated". If you have specifics of which rentals you heard of I can look it up to check for you.
0 votes Thank Flag Link Thu Jan 26, 2012
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