Renters HAVE Budgets Too! Expecting Landlords to Take Them into Consideration is UNrealistic!

By
Real Estate Broker Owner with Gibson Management Group, Ltd.
http://actvra.in/Bmv

I just showed a vacant townhouse to a man who is buying a business in the area and needs to move his family within a few weeks.

He has viewed the property online and I met him at the property at 11A today and showed it to him...VERY CLEAN, he says!  VERY CONVENIENT to his new job, he says!  VERY GOOD LOCATION for his family and small son, he says!

.....and * wait for it * the rent is OUT of his Budget.  I asked what his budget was and he said he wanted a $100 per month reduction.  I SMILED as I advised him that in 2 months, the rent would INCREASE $200 per month if the property was available this summer.

This is a man who drove 3 hours from his current home to see the unit.  He has known the rental price range since he first saw my sign on the unit almost a week ago.  He has seen the unit online, talked to me twice and made a viewing appointment.

If he could NOT afford the unit, he sure has WASTED a lot of his time, ga$ and energy.  He then tells me he is looking at another unit and I provide him with application paperwork for he and his wife to complete if they want to rent the property.  The other unit is smaller and older that the unit I represent. 

If he wants to proceed with renting the unit at the current rent, he needs to do so ASAP.  I'm showing it 2X on Saturday.

close

Re-Bloggged 3 times:

Re-Blogged By Re-Blogged At
  1. Cory Barbee 03/28/2011 04:42 PM
  2. Nicholas Goglucci 03/28/2011 05:43 PM
  3. Donald Bradbury 03/28/2011 05:46 PM
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Topic:
ActiveRain Community
Location:
Virginia Albemarle County
Groups:
Property Management
Best Business Practices
Investing in Real Estate
Rental Agents and The Single Family Rental Market
VIRGINIA
Tags:
charlottesville
home for rent
home for lease
property management
rental property leasing

Comments 157 New Comment

Rainer
126,079
Rich Murray
GRI, ABR
PMNC, Cary, NC

Oh, the joys of Property Management. Gotta Love It.

 

I received the information you mailed me today. I'll look through it this weekend during the STORM. Thank You.

August 26, 2011 06:51 PM
Rainmaker
1,235,050
Charles Stallions
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.
Charles Stallions Real Estate Services

Very good Wallace but what waste of time, I always ask if the unit fits your needs are you prepared to sign up today. But that doesn't always work either.

October 03, 2011 10:11 AM
Rainer
34,107
Carmen Rivero
Infinity Real Estate Group

Great post, I think most people do not understand how different is the market for rentals. In the Orlando area there is a high number of foreclosures and short sales.  This makes the availability of rental homes lower. The average monthly rental has risen considerably in the last few years.

As the owner of rental property I have to agree that is better to not budget on the monthly rental, unless there is a reason for it. I have lowered the rent for one of my tenants because he was always responsible and because he kept the place in perfect condition. In other cases I have prefered to get a new renter than to lower the rent at all.

March 18, 2012 02:56 PM
Rainmaker
122,673
Ricky D. Sadler
NARPM 2013 V.P -
Management services, Rentals Leasing, Landlord Tenant

Wallace,

I understand- I have a cute little house just listed Friday- Sign went up on Sat 35 calls just from the sign. I got to have it- 35 time on my voice mail on monday

Not one ad or picture telling about  the house anywhere,so they have no idea what the price is or the layout of sqft but they have to have it

I think people have lost it!- mindless calling for entertainment AT  least  your guy got a ride out of the deal-

 

Ricky D

www.rd-house.com

April 18, 2012 04:19 PM
Rainmaker
1,054,979
Wallace S. Gibson, CPM
LandlordWhisperer
Gibson Management Group, Ltd.

I'm getting applications with no income stated - like they can't look at their pay stub or they don't know their income

May 19, 2012 07:07 PM
Rainmaker
1,054,979

Wallace S. Gibson, CPM

LandlordWhisperer
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