How negotiable is rent in Florida? (Orlando, Melbourne: real estate market, apartments, renter)

killaloe · 05-10-2007, 06:28 AM

We are new to the renting scene, so I'm trying to get a sense of how negotiable rents are.
We have a fairly large family so houses in our size don't come available in the area we are looking very often, so when one does we really want it

Am I being a sucker if I pay the asking rent, or is it understood as in buying a house that the asking price will be discounted? If so what is that discount roughly?

vconnie · 05-10-2007, 07:18 AM

I understand your dilema, as we are seriously looking into the rent scene as well. We are looking in the WPB area and possibly Melbourne. Where are you looking to rent? We are a family of five so we too need a larger home. I would imagine with the market the way it is anything is negotiable now. It would also depend on the cirrcumstances of the landlord, but I truly believe any reasonable offer would not be refused. Hope to hear more on the topic, hopefully from those in the area and especially those who have rented or are looking to rent their home. Take care.

bentlebee · 05-10-2007, 07:22 AM

I know you can and should ask if the rent prices can be different. I rented out a property in 7 Oaks and the renter asked me if he could rent without a washer/dryer and fridgerator and we agreed on a lower price. The renter found my house on ephizz.com and I know a landlord who is trying to have his house rented and is willing to go lower than the $ 1,300 he is asking for the rent.

macguy · 05-10-2007, 07:22 AM

Quote:

Originally Posted by killaloe

We are new to the renting scene, so I'm trying to get a sense of how negotiable rents are.
We have a fairly large family so houses in our size don't come available in the area we are looking very often, so when one does we really want it

Am I being a sucker if I pay the asking rent, or is it understood as in buying a house that the asking price will be discounted? If so what is that discount roughly?

The rent is the rent and unless there is something really wrong with the place you better make up your mind because there is someone right behind you to rent it. It's not like selling a house where you hope someone will want your place. They begin calling at 6 in the morining the day the ad comes out.

jhlcomp · 05-10-2007, 07:33 AM

The only time I see an incentive is if you offer to pay the rent one year in advance or 6 months in advance. Since most people are not in the position to do so, you can always ask if there are any discounts but don't expect one.

The south Florida area has a shortage of rental apartments. Houses are another issue given there are so many on the market. With so many homes on the market, some homeowners are considering renting.

tallrick · 05-10-2007, 08:07 AM

Expect rents to come down in the comming years as condo flippers get very desperate. Home rents will not go down much if at all, but it all depends how much the values drop.

oceandreams94 · 05-10-2007, 08:25 AM

Hello, we have noticed in our search for a home to rent that most owners wont come down much. We are a family of 5 as well so we need a 4 bedroom home. But its hard to find one for a good price...

jen

Ladywithafan · 05-10-2007, 08:44 AM

Quote:

Originally Posted by oceandreams94

Hello, we have noticed in our search for a home to rent that most owners wont come down much. We are a family of 5 as well so we need a 4 bedroom home. But its hard to find one for a good price...

jen

Rent is rent...and near the water, or a desireable section of anytown, Florida landlords have no reason to be negotiable....when I rented my 1/1, there were 3 people behind me waiting for the word....if I'd a been 2nd showing, I'd be done....

Prichard · 05-10-2007, 09:25 AM

I guess I'll be the odd man out on this one. First, let me state that I'm talking about Orlando.

People who've been here and know the real estate market also know the rental market. Basically, landlords are going to be renting their units for about the same rate in a given area based on square feet. A little less for older places, a little more for newer units in good condition. Right now no one who has purchased their investment rental in the last 3 years is covering their mortgage with rental payments. This tells you the market is soft on rental SF homes and condos. If the market is soft, then some people will be more desperate than others to get some rent in. This means that YES, rents are negotiable right now, if someone is on the higher side of the spectrum for what he's trying to rent out.

Basically what I'm saying is that the presure is downward, not upward - more or less a renter's market.

killaloe · 05-10-2007, 09:35 AM

Quote:

Originally Posted by Prichard

I guess I'll be the odd man out on this one. First, let me state that I'm talking about Orlando.

People who've been here and know the real estate market also know the rental market. Basically, landlords are going to be renting their units for about the same rate in a given area based on square feet. A little less for older places, a little more for newer units in good condition. Right now no one who has purchased their investment rental in the last 3 years is covering their mortgage with rental payments. This tells you the market is soft on rental SF homes and condos. If the market is soft, then some people will be more desperate than others to get some rent in. This means that YES, rents are negotiable right now, if someone is on the higher side of the spectrum for what he's trying to rent out.

Basically what I'm saying is that the presure is downward, not upward - more or less a renter's market.

That is what I would think too...that downward pressure in the property market would put downward pressure on rent. However I'm not really seeing that (Sarasota). Also not seeing a huge amount for rent either...maybe when the snowbirds clear out that will change.

Thank you to everyone for their input.