Register now !    Login  
Main Menu
Who's Online
69 user(s) are online (63 user(s) are browsing Message Forum)

Members: 0
Guests: 69

more...




Browsing this Thread:   1 Anonymous Users




« 1 (2)


Re: Help! Landlord's advice needed! Having such a hard time Renting out a Single Family Home
#2
Home away from home
Home away from home


Hide User information
Joined:
2012/1/11 18:21
Last Login :
2019/12/26 15:30
From GV Bayside Park
Group:
Registered Users
Posts: 5356
Offline
Quote:

griffin wrote:
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.


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
 Top 


Help! Landlord's advice needed! Having such a hard time Renting out a Single Family Home
#1
Just can't stay away
Just can't stay away


Hide User information
Joined:
2011/5/18 16:12
Last Login :
2015/7/8 19:06
Group:
Registered Users
Posts: 75
Offline
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
 Top 




« 1 (2)




[Advanced Search]





Login
Username:

Password:

Remember me



Lost Password?

Register now!



LicenseInformation | AboutUs | PrivacyPolicy | Faq | Contact


JERSEY CITY LIST - News & Reviews - Jersey City, NJ - Copyright 2004 - 2017