Is it possible for me to locate a home here that I wish to rent for 2 - 3 years?

Asked by Elizabeth Waters, West Salem, Salem, OR Tue Apr 7, 2009

I am searching for a particular home, upper scale, one that I will rent, have landscaping professionally done, under 3-5 yrs old, approx. 2500 - 3000 sq feet. I do not smoke, or have parties. I am a woman of high standards and quality. I have one 7 lb. neutered Silky Terrier as pet. I have financial history to support my rental agreement, and a rental history background of past 2 years. I only wish to rent. Thank you. L. Waters

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Margaret Osc…, Other Pro, Albany, GA
Tue Apr 7, 2009
There are a huge number of homes available for rent that are upper scale. With homes selling slower than prior years, ,many homeowners have converted their homes to rentals rather than sell during a buyers market. Additionally, many renters are "downsizing" or looking for more affordable homes which leaves some of the higher end homes looking for new tenants.

Personally we had two rental homes become vacant during the past few months and found it interesting that we had less response than we have had in prior years. We expected to have more applicants than before because of people losing their homes, but I think because they are in a higher price range, had fewer calls/applicants than in prior years. We do not advertise in the newspaper as it is so expensive to do so, and have found most people look on craigslist -- I'd start looking there is you are not already.

Be prepared however, good rentals for reasonable prices still will move quickly. Usually a sign in the yard for a few days is all it has taken for our top location rentals to attract quality tenants -- this time it took 7 days and an advertisement on craigslist.

If you have difficulty finding a home, some realtors may know if their clients are desiring to remove their home from the selling market and convert it to a rental for a few years. If your rental search doesn't find the "just right" property, I'd be happy to ask around amongst our realtor/investor contacts on your behalf. (Finding a great tenant is always a great thing too!)
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