House is being offered FOR RENT (Union, Plainfield: renter, mortgage broker, appliances)

[Jerseyt719]

In Plainfield, you're not kidding. Definitely rent first and see what you think.

[azwildcats70]

Originally Posted by Jerseyt719

In Plainfield, you're not kidding. Definitely rent first and see what you think.

Yeah, the house is in the Van Wyck Brooks Historical District... we love love love the house... it's old, loads of character... recently updated... but way over priced!

[Roselvr]

Originally Posted by azwildcats70

Actually - I think renting would be our best option at this juncture... I'm still a bit unsure/leery of the area. I'd much rather find out that I don't like it and only have a 1yr lease than a 30 year mortgage.

It's in the Van Wyck Brooks Historic District of Plainfield.

Is that over by Swaines?
Not sure I'd rent there.
I know people that have and/or who owned over that way, but it's been years.
Houses are beautiful for sure but right around the corner is violence.

Do you have kids?

[NORMGLO]

Originally Posted by monack

Have folks found that rent is negotiable these days? That is - rent that is from a private owner rather than an apartment complex.

I have found that rentals in my area can be negotiated. Private homes are more flexible than rental complexes. Of course the longer the rental has been on the market the more flexible the landlord becomes.

[azwildcats70]

Originally Posted by Roselvr

Is that over by Swaines?
Not sure I'd rent there.
I know people that have and/or who owned over that way, but it's been years.
Houses are beautiful for sure but right around the corner is violence.

Do you have kids?

I have no idea what "Swaines" is.

No we do not want kids and do not plan on having kids.

[Roselvr]

Google maps - in the left it should say swain galleries, click on that, you can see what it looks like from the street. It's on Watchung Ave

[azwildcats70]

This is what the real estate agent said:

1. Lease should be for 1 year, but flexible, if you want 14 mos, etc etc
2. The rental amount is $3200, but this is negotiable .... no offers have been made yet. I would suggest $2800, as a lesser property recently went for $2500. Using the $2800 figure, your money requirements would be as follows:
A: Certified Ck payable to the Listing Agent


1 1/2 month's security deposit $4200.00
1st mo's rent 2800.00
Total $7000.00

B: Certified Ck payable to Renter's Broker:
1/2 months rent $1400.00

3. Pets are ok, but the guard dog would require permission from the Landlord and, maybe, a pet deposit.

4. You are on your own for the refrigerator, washer, dryer, repairs, and lawn maintenance.

5. The house, once rented, will be off the market, and back on the market appr 1 mo before lease end.

One word is coming to mind.... PASS!

[monack]

That sounds like a LOT of money for that area.

[desertsun41]

Originally Posted by azwildcats70

The house is also for sale. The house is over priced both as a sale and as a rental. Owner won't budge on the sale price, so we are considering renting it. Anyone have any tips for negotiating the rental price?

If it is over priced then why not move on? Private homes in the rental pool now are almost never negotiable. The owner has to cover his monthly payment. Same thing why many sellers will not drop the price on their now over priced turkeys. These people refuse to accept that their homes lost value. Even if they did accept it, they cant sell or rent it for less then they own it for. Who has an extra $50 or $100 thousand extra to cover the difference if they sell it for less then they own it for?

Apartment homes you might have a fighting chance of getting them to drop the rent a little bit if they have vacancies. Otherwise I would bet a lot of money that they will not lower the advertised rents.

It's a bad deal all over for all of us..........

[azwildcats70]

Originally Posted by desertsun41

It's a bad deal all over for all of us..........

Well, I don't know about that... I hate to say it, but my husband and I are enjoying the fact that we have virtually no debt, make an excellent salary and are in an excellent position to take advantage of the market situation.

We are in no hurry. We could buy now. Rent now. Stay where we are. Wait a year. Wait six months. I know my husband loves this house, but I never get attached to things like this. I must have that type of personality. It's very easy for me to shut off, turn my back and walk away.