Are rent house prices negotiable?

[talisman]

Doubt you can borrow against it but I dont know anything anymore, bank is waiting " at least 45 maybe 60 days" to approve my home loan as a primary residence even though i'm putting 33% down.

Uh, find another bank. wtf.

[03mustangdude]

Uh, find another bank. wtf.

Been with bofa 4ever, they will get it done eventually. hopefully

[2011GT]

Long term reliability and good past credit/criminal/rental history are what we look for on negotiating terms on our properties. Most are paid for and I'd rather negotiate a couple hundred off say a $1200/month lease for long term than to have the house sit on the market empty making no money. But if you're a risk, te negotiation terms will not be favorable.

Do you lease to people without credit? Mainly because they don't use credit...

[2011GT]

Been with bofa 4ever, they will get it done eventually. hopefully

Doesn't mean you need to be their lapdog. Shop around.

[mk5.0]

Been with bofa 4ever, they will get it done eventually. hopefully

Boa and chase are worst places to get a home loan.

[slow99]

Do you lease to people without credit? Mainly because they don't use credit...

Live like no one else so that you can live like no one else.

[SVT Lurch]

It's about cash flow. They tightened up on borrowing. You need 25% down now when buying property that is not your primary residence...

No, 20% is the minimum down payment for non-owner occupied.

[bcoop]

My house will be a rental soon, and I would much rather take less monthly for long term renters that pay on time. My girlfriend's condo is leased right now, and rent is set to go up next month. The current renter pays on time and takes care of the place, so she's going to let her keep the same rate or possibly go down $100/mo if she will sign a new 12 mo lease.

[jdgregory84]

I had no idea you could negotiate apartment rent

It might have been luck. But with my first apt, the floorplan was around $1,200/month (townhome), and we just simply said, "We love this complex but everything is a bit out of our price range, our there any specials right now?" and they offered us $790/month. I was pretty stoked about it.

For everybody else, thanks. We'll try what we can. Even if it's $100 off, that's the electricity bill. Renter history should be fine. Plus, the three of us combined make a decent amount more than what we're willing to spend. We just like to do shit and don't wanna put it all in a rent house.

[Grape]

My rentals are not.

[CJ]

Every rental I've ever had I negotiated.

[dcs13]

No, 20% is the minimum down payment for non-owner occupied.

Depends on price/ Under 100k it's 25%

[dblack1]

I was having a hard time finding a six month lease on a home at one point in time. I found it by offering 6 months up front for x dollars on a rental.

I have rentals, I've never had a person offer lower than what I was asking. I've had them offer more if I'd not make them sign a lease. You can do it, but if the market is good for rentals I don't really see why they'd bother. Good rentals where I'm located aren't a dime a dozen.

[dblack1]

Depends on price/ Under 100k it's 25%

Totally depends on bank. I've got a bank that is 25% and one that is 20%, doesn't matter the amount. All land is 25%

I used to have a sweet set up at a local bank. I didn't have to get an appraisal if the amount was under $50k on a house.

[slow99]

I was having a hard time finding a six month lease on a home at one point in time. I found it by offering 6 months up front for x dollars on a rental.

Yep, I needed a short-term lease and had trouble finding a 6 month as well when we moved back from SF. Once I let them know I was fine with paying a little extra and they learned more info about us, they were all fine. We ended up finding a 6 month in the exact neighborhood we wanted - couple blocks away from where we bought.