 move in specials? (by Sabrina [MO]) Jan 26, 2013 8:30 AM
 move in specials? (by TIM [IN]) Jan 26, 2013 9:12 AM
move in specials? (by Bill [TX]) Jan 26, 2013 9:31 AM
move in specials? (by in [IN]) Jan 26, 2013 9:33 AM
move in specials? (by jose [CA]) Jan 26, 2013 11:19 AM
move in specials? (by mike [MO]) Jan 26, 2013 12:08 PM
move in specials? (by MG [CA]) Jan 26, 2013 12:25 PM
move in specials? (by Sabrina [MO]) Jan 26, 2013 12:52 PM
move in specials? (by S i d [MO]) Jan 26, 2013 4:46 PM
move in specials? (by Sabrina [MO]) Posted on: Jan 26, 2013 8:30 AM
Message:
State Specific Question About: MISSOURI (MO)
I have two properties that I've had on the market for several months and can't seem to get anyone to bite. Is anyone offering move in specials?
One of the properties I'm renting for $650 ( 2 bd 1 1/2 bth) but the security deposit is 2 x's the rent ($1350) which is what I usually charge. Folks are having difficulty paying that. For those in MO, are you still charging 2 x's the rent? Should I go up on the rent but down on the deposit.
The other is a 1 bd in a hard to rent neighborhood for $465. Please advise. I really need to get these units occupied.
Thanks.
Sabrina
--174.253.xxx.xxx |
move in specials? (by TIM [IN]) Posted on: Jan 26, 2013 9:12 AM
Message:
If this was me, that house SD would be $500, rent $695/mo. Not 2x rent!I would never get a unit moved at that rate.
Your other unit, $465 rent, $300 SD. $99 first month rent. --67.236.xxx.xxx |
move in specials? (by Bill [TX]) Posted on: Jan 26, 2013 9:31 AM
Message:
Amount of deposit relative to rent appears to vary with location. Around here, deposits are low. Recently I have been charging a little less than one month rent as a deposit amount.
Have seen other locals (S. Fla.), where it was common to get 1st, last, and security equal to one month rent. --71.158.xxx.xx |
move in specials? (by in [IN]) Posted on: Jan 26, 2013 9:33 AM
Message:
SD is high, How many times have you returned it?
you know the risk...and can adjust for it. --98.253.xxx.xxx |
move in specials? (by jose [CA]) Posted on: Jan 26, 2013 11:19 AM
Message:
I dont get it. You have a vacancy for months trying to get two months deposit. This is what i do i charge half months deposit and im full all year. I figure that if i can rent one month early i am ahead of the game. We Portugese have a saying that a ship on the dock makes no money. Things need to keep moving. No wonder some people fail at this business. --208.54.x.xxx |
move in specials? (by mike [MO]) Posted on: Jan 26, 2013 12:08 PM
Message:
drop the deposit
if you must have the high deposit, try to get it after the move in, ie when they get the tax refund. I would offer move in now with $650 and pay $650 within 60 days --108.80.xxx.xxx |
move in specials? (by MG [CA]) Posted on: Jan 26, 2013 12:25 PM
Message:
On a house, the security deposit is definitely higher than apartments like 1.5 of the monthly rent, higher if they are higher risk.
The pool of applicants now is not that great due to the bad economy. It is recovering a little but not much.
Our apartment deposit is just almost the same as the monthly rent. I usually increase it on high risk tenant.
I do not give move in specials but my rent is usually lower compare to other rentals around.
--72.197.xxx.xx |
move in specials? (by Sabrina [MO]) Posted on: Jan 26, 2013 12:52 PM
Message:
Thanks all. I'll just drop the deposit. I don't think it's realistic to get any of the deposit after someone moves in. I tried that years ago and wasn't successful so I've always gotten deposit up front before I hand over the keys.
Sabrina --174.253.xxx.xxx |
move in specials? (by S i d [MO]) Posted on: Jan 26, 2013 4:46 PM
Message:
What town are you in? That makes all the difference. I'm in Springfield... Deposit is 75% on full month's rent. $99 move in special. My vacancy rate is under 5% for 3 years straight. Vacancy is your biggest expense. Especially during winter when you're paying heat to keep your pipes from freezing up.
I've recently started charging $10 - $25 per month per pet "pet rent." People won't pay an extra $300 for a deposit, which they may have partially or fully refunded, but they practically BEG me to take an extra $300/year that is all mine to keep if they can have Fluffy.
--108.250.xxx.xxx |
Reply:
|
|