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Re: Help! Landlord's advice needed! Having such a hard time Renting out a Single Family Home
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Home away from home
 
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2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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I don't live too far from there, and the views from my place are amazing. statue of liberty and the NYC skyline. I had this problem for a place I was renting in Bergen Lafayette. I think the problem is if the renters are coming from the NYC area they are not use to that 1.5 month security. So I lowered it to one month, and it worked, I also added a fridge because New York folks are not use to supplying their own fridges. If you can find a JC renter they will fork over the 1.5 deposit because its the norm here. I also notice there is a bit of competition around here for renting out single family homes. Just up the road from me five wall street guys in their 20's just rented a 5 bedroom on Garfield for $1800 a month, with a three year lease, So you might want to lower the rent. You did not mention how many rooms are in the space but a three bedroom house around here usually rents for $1300 anything more than that usually has some amazing amenities. Credit scores are what they are, I would not lower my standards here, but if a applicant score is too low you can always ask for an additional fee the same way Comcast, or AT&T does. They don't turn you down, but ask you to pay a returnable deposit after one year. Good Luck!
Posted on: 2013/2/7 13:38
Edited by user1111 on 2013/2/7 14:03:19
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Help! Landlord's advice needed! Having such a hard time Renting out a Single Family Home
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Just can't stay away
 
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Hello landlords out there or real estate gurus,
I'm finally coming here for advice. I've been trying to rent out a really nice Single Family Home w Sunny yard, view of NYC, and all that for a good month and half. Inside is super nice and the street is alright. It's 4 blocks from the Danforth LightRail. It seems like all the people that come see the house say $1500 is a great deal, and they are interested in it. All that has applied has just TERRIBLE credit. Like 485-550 credit score with not 1 or 2 collections but about a billion things in collections. Others say they want to apply, and the moment I mention that 1.5 month security deposit and 1st month's rent is due within 48hrs (to hold the house) after the application is accepted - they just won't apply. What am I doing wrong here? I thought that security deposit and credit requirements are pretty reasonable (it's what I had to be when I used to rent) - but is it not? Honestly, should I be lowering the standards a bit here because of the house location? I really don't want the hassle of chasing the rent every month or going through an eviction process.... I've thought about lowering the security deposit to 1mon, but seems like a red flag if that extra .5 month is the deal breaker for them? I do have a really nice real estate agent too (who I will pay the broker fee for) and I'm also posting on Craigslist myself and showing myself. Help! What to do? Should I just be more patient? or lower the standards - what's normal around here? Many Thanks in advance. Struggling.
Posted on: 2013/2/7 13:12
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