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I know it is frustrating CalGirl, especially when you are looking for a rental, most homeowners that rent out their homes are looking at it as an investment, or they are moving and can't afford to sell, so they need to get enough rental income, to cover mortgage, insurance, HOA and amenities if provided.
The way things are at the moment, (especially with an influx of new employees) there are not enough rentals to be sure that you can take your time looking, or they are gone! The owners are obviously going to go with the tenants that offer more rent, or that can get paperwork done quickly...it's a business and sometimes not a very polite one.
We are lucky that we found a really nice rental in a good area, but we had been 'bumped' on it previously, we only got a second chance at it because the ones that bumped us (and offered a higher rent) didn't pass the credit check. But we refused to pay a higher rent and actually got the monthly pet fee deducted! Don't give up, you will find something
Wow, people actually offer a HIGHER rent? No wonder we aren't meeting with any success!
We offered to pay 3 to 6 months in advance at the last place we applied....but it didn't seem to help. It is really discouraging, because I think we are a nice family, private schools for our kids, polite, well-mannered, etc.....and the 2 houses we have actually gotten so far as to apply for we've been rejected?
And there is the problem of people who bought at the peak, needing to cover their mortgage, so they are asking more than what seems fair for the house.
If there is a shortage of rentals, then the landlords hold the power and can charge whatever. It doesn't mean mean they paid too much for their house, just means that the market can stand for to charge more.
Wow, people actually offer a HIGHER rent? No wonder we aren't meeting with any success!
We offered to pay 3 to 6 months in advance at the last place we applied....but it didn't seem to help. It is really discouraging, because I think we are a nice family, private schools for our kids, polite, well-mannered, etc.....and the 2 houses we have actually gotten so far as to apply for we've been rejected?
And there is the problem of people who bought at the peak, needing to cover their mortgage, so they are asking more than what seems fair for the house.
Thanks for the encouragement though!
Have you asked why your being rejected? Are you moving very soon because owners won't hold a rental for long? Is it your credit? Animals? Sorry your having so much trouble. Are you using a Realtor? Not that it makes a difference.. but maybe they can explain the problem.
If there is a shortage of rentals, then the landlords hold the power and can charge whatever. It doesn't mean mean they paid too much for their house, just means that the market can stand for to charge more.
Actually, I have seen houses that have been sitting for a long time and are not getting rented. Yes, they are out there. It seems to me that the avg. rental price in Charleston is about $100/sq. ft.--more or less depending on location. I have toured homes that are higher than that but are not being rented, and I would think one reason why is price. But the owners cannot afford to lower the price just to get it rented because they bought at the peak of the market.
[quote=beachme;14358966]Have you asked why your being rejected? Are you moving very soon because owners won't hold a rental for long? [quote]
The first house wouldn't take us because we have 2 children. (Yes, I know this is illegal).
The 2nd house hasn't actually rejected us....yet....they are just waiting for more applications to come in so they can choose the best one.
My husband is self-employed...I think that is the main problem. That is why we offered the 3-6 months in advance. We have offered copies of our bank statements, tax returns, to verify the income.
HOWEVER, he is starting a new salaried position 2nd week of June.
Read my post again -- I didn't say ALL landlords charging high rents paid too much for their house, I'm saying not all landlords. Rent is deetermined by demand/supply. Considering the shortage of rentals I would suggest the market price is fine. If there was a surplus then I would assume the price was too high for the demand.
One thing to remember, a rental property is taxed at a higher rate than a principal resident. That cost is worked into the rent each month.
My current Mt. P townhouse will be available for rent on July 1st. My landlord lives out of state and I would LOVE not to have to have showings while I'm trying to move this month. It's a beautiful, big, fairly new townhouse. I believe it's only 4 years old. 2500 square feet, three bedrooms, with a full office in the bottom floor. It has wood floors in the kitchen and 2 living rooms and all stainless appliances. It's a great deal for $1700. We live in a beautiful community with a pool, tennis courts, bike trails, etc.
Thanks, but we prefer a single family house......but thank you anyway.
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