Rentals in Nashua>Question Details

Kayla Quebec,  in Boston, MA

Looking for tenants for my luxury condo rental in downtown. In your experience, what is the average timeframe between listing to lease?

Asked by Kayla Quebec, Boston, MA Mon Sep 30, 2013

0 votes Share Flag Rentals in Nashua

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The time an apartment is open depends upon several factors.

The reason why there are renters are a numbered of reasons, many are starting out in life, want to play house. There are those who have lost their homes in the past recession and are still in the 2-3 year wait, there are people who have credit that is so terrible it doesn't even register in a positive number.

What you need to do is, besides out class your competition, is to be competitive with your price. Many landlords act as if their apartment units are the Hilton's or Park Streets of the world.

You have to really look beyond that mentality and get a real good price and come close to it as possible.

In some conditions, offer a full security deposit, and take something like a half months rent to move in.

When I look at the prospective tenant I don't give a poooh about their credit score. I care about their rental history and work history. And for the scary part, have they done a bad rock and roll night like the Who in the last abode, busting up the place, I use the Landlord Connection.

I live in the property I own in the down town part of Nashua. The tenants like the conviense of it, make that your strong card when you talk about the place.

Make sure they follow up their w-2s, a photo of drivers license, and the application to start your qualification.

Making the net bigger will catch more fish and allow you to find the right one. Again, I will offer you a free hot coffee, some friendly advice, and you can see the operation. We have been doing this business for over 40 years and 'vacancy' is a nasty word.

direct: 603-930-3344
office: 603-625-2000
0 votes Thank Flag Link Wed Apr 9, 2014
Hi Kayla,
Things move very fast if they are in good condition and priced for the market - rentals or sales it is all about value!!! We are still in a pricing war and beauty contest when it comes to renting or selling.

Let me know if there is anything else you may need.

Tim Joyce
Keller Williams Realty
20 Trafalgar Sq. Suite 101
"The Glass Tower"
Nashua, NH 03063
Cell: 603-765-3761
Office: 603-821-1120
0 votes Thank Flag Link Mon Sep 30, 2013
Thank you Tim and Ella for your helpful responses. I am a first-time landlord who lives in MA. My condo has been on the market for two weeks and I've had a handful of leads so far and just scheduled another showing this week. I was curious as to whether this response is typical. Happy to hear the average DOM time is within the timeframe I hope to find a tenant by and also that there is movement in higher price ranges. Each prospective tenant I've spoken to thus far has attempted to negotiate price.
0 votes Thank Flag Link Mon Sep 30, 2013
Hi Kayla,

I believe the Rental Market is extremely strong in all price categories. I just listed a home in Nashua for $2,000 that had a dozen offers, some even above the asking price as soon as it hit the market. I also rented a home this summer for $3,500., in less than 2 weeks. I have another Rental listed for $4,200, which i am also getting calls on. The important thing is to make sure you do a background search regarding employment and credit. Please let me know if I could be of assistance with marketing and finding you the right tenant..

Ella Reape

Ella Reape & Associates
Keller Williams Realty
Direct: (603) 821-1140S
Mobile: (603) 883-3343
Office: (603) 883-8400
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0 votes Thank Flag Link Mon Sep 30, 2013
Rentals have been hot. But luxury Condos have a smaller buyer pool. DOM is 35 days for all rentals in Nashua priced above $1500 (which ignores many of the Multi-families)

I'm assuming you are talking about 52 Main street. Rough rent would be 1900.

Tim Dolan
0 votes Thank Flag Link Mon Sep 30, 2013
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