The rental market in Wellington is HOT, HOT, HOT. The median list to rental price is currently 100%, meaning landlords asking $2,000 a month are getting $2,000 a month.* However even with those statistics there are still a few tenants who will try to negotiate the rental price with a Wellington landlord and if the tenant has a lot to offer they may be successful, but is it wise to justify the low rental offer?
In my opinion the only way to "justify" a lower rental offer is by pointing out the properties flaws; home backs to a road, needs paint, needs carpet. While this might be an investment property for the landlord and not their personal home, pointing out these negatives might still offend them.
Offending the Wellington landlord is NEVER the way to start negotiations. Instead of trying to "justify" the low rental offer I recommend focusing on the positives, a tenants strengths, why should the landlord pick you? Does the tenant have excellent credit, good rental history, stable job and income?
Focusing on the positives is always better than focusing on the negatives and it might work.
If you need assistance finding a home for rent in Wellington or renting your Wellington home contact us today!
*Information provided by the RMLS and based on annual unfurnished homes that have rented within the last 90 days, deemed reliable, but not guaranteed.
Michelle this is an excellent strategy not only on rental properties but also on sales offers. We had to suggest it because it is a strategy we seldom see and its refreshing!
HOw funny. In California, I scarcely consider rent to be a negotiable payment--probably because (like you say) the rental market is so hot.
Michelle, it's not a bad idea to justify any low offer. And even in an area where things are going for what the landlords are asking, it's sometimes possible to find something that is optimistically priced.
Michelle
There are always people who are going to want to negotiate, adn it's crtainly not in just real estate. Our rental market here is pretty strong although I don't do much with rentals. What amazes me is that some people want several hundred dollars off a rent that really is market. I think your point is an excellent one, and doesn't it also apply to sales?
Jeff
Rentals are hot here also especially around the base realignment areas. Going into any situation with negatives is never a good move. Great post telling everyone to keep it positive.
I did not realize there is a hot rental market in Wellington Florida. Here in NYC, the rental market is always busy, over 70% of the Manhattanites are renters.
Is it safe to assume that your 100% comes from the fact that most landlords account for those flaws when setting the rental price?
Great advice Michelle. People with good credit for instance and not that easy to find. If you have good credit and a steady job, then the landlord might look favorably at a decrease in rent.
Al & Peggy - Thank you!
Melissa - Outstanding tenants; excellent credit, stable income, etc. MIGHT be able to negotiate on deposits and occasionally the monthly rent.
Pat - I've found that landlords are more inclined to accept a lower offer if the tenant sells themself instead of justifying why they feel the home isn't worth the asking price.
Jeff - It could apply to sales although with sales if I have lower comparables that support my clients offer I will include them.
Martha - Thank you
Eileen - Yes, rentals have always been popular in Wellington due to the location and top rated public schools.
Rich - Correct
Jane - I agree
Michelle - here in Nashville, the rent will be bid up, not down , because of the scarce availability of rental property in certain areas. I have several clients who had to rent while their homes were being built, and in one day they looked at three homes in Brentwood, the next day they were all rented. Investors should be all over this, but they are not because the home prices are still going up.
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