Why was my Rental Offer Denied Again?

By
Real Estate Agent with Hansen Real Estate Group Inc.

Why was my Rental Offer Denied Again?

When writing an offer on a home for rent in Wellington Florida I highly recommend prospective tenants write their strongest offer possible and never look at homes for rent above their budget. Why? Rental inventory is low, which means multiple offers on homes for rent is common place.

Now if a home for rent has been listed for more than 2-4 weeks the landlord might be willing to negotiate, but if it's a new rental listing or just had a price reduction there may be little to no negotiating.

As a REALTOR in Wellington Florida that lists homes for rent here is a common scenario Wellington Florida Landlords face:


Landlord Asking:
Asking:$2,500 a month
Deposits: First months rent, last months rent & security deposit totally one months rent
Available: April 15th, 2011

Homes for Rent in Wellington FLTenant #1 Offers:
$200 less a month
No last months rent
Move in 60 days from available date
Excellent credit score


Tenant #2 Offers
$100 less a month
No last months rent
Move in 45 days from available date
Wants three year lease
Average credit score

Tenant #3 Offers
Full price
Full deposits
Move in 15 days from available date
Good credit score

Even though Tenant #1 has excellent credit and Tenant #2 wants an extended lease in my experience a majority of landlords will choose Tenant #3 because they will be netting almost $6,000 more than Tenant #1 (the house will be sitting empty for two months equaling $5,000 and they are offering $2,400 less a year). On top of netting more the prospective tenant is also putting down the full amount of deposits requested.

If you are looking to rent a home in Wellington Florida you might be able to negotiate the rent, but I would be prepared to pay full asking price along with all the required deposits. Get a list of homes for rent in Wellington FL that fit your needs by filling out our Online Rental Questionnaire and if you are unfamiliar with the rental process read our Tips and Expectations when renting a home in Wellington.

Photo courtesy of Image: jscreationzs / FreeDigitalPhotos.net

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Rainmaker
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Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

I would be taking offer number 3 if I were the landlord. The rental market is very competitive now, so the ball is more in the landlord's court.

Mar 31, 2011 02:11 PM #1
Rainmaker
1,333,948
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Jane - I think 99% of landlords would take offer 3 as well.

Apr 05, 2011 05:44 AM #2
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Rainmaker
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Michelle Gibson

REALTOR
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