Lakewood rental question

amother

Periwinkle

Wed, Oct 21 2015, 5:50 pm

I have a question. I would like to know what is the general attitude in rentals here.
do people expect a lot? I have a house by sterling forest.

what is the proportion of yeshivish to chasidish? is there a problem in that particular developement?

what is the attitude of people living in developements? is it true that develp people are very particular who lives there?

do renters expect that landlords paint and scrape? I cant afford it. will it be impossible to rent if thats the case? the apartment was kept in great shape just it can use a paint job after the amount of years. and the dinin room floor needs scraping. do you think I can offer a cheaper rent and let them do it on their own. and give them 2 yr lease so they dont loose out? I simply cant afford to put in money at this point. maybe later on I will. what is the chance that lakewooders would take this offer?

alwayscooking

Wed, Oct 21 2015, 6:55 pm

I Beleive as long as u offer a reduced rent price u should b able to find a renter no problem. But don't charge to cheap either because the demand in Lakewood is very high now so people are willing to pay more.

amother

Puce

Thu, Oct 22 2015, 8:34 am

I rent in Lakewood and it is an expense to paint and scrape. However you will make up the money in no time.

See what is the monthly difference between fixing or renting at a lower price. If you will make up the money in a year go for it

Try to get a gemach for this.

LiLIsraeli

Thu, Oct 22 2015, 9:08 am

amother wrote:

will people be picky because of it even though the rest is beautiful?

It's not being "picky." Scratched wall paint and unscraped floors are an eyesore. The tenants have to live like that every day, so yes, I think that would be a reason to pay less for a rental.

Chayalle

Thu, Oct 22 2015, 9:16 am

Look at it this way: Say it costs you $1000 to paint and scrape (I'm just making up a number). Every month that the apartment is not rented out, you are losing the rent price, so the faster you paint and scrape to rent out the apartment, the better.

I think the poster who mentioned borrowing the money (G'mach) is spot on. See if you can borrow the money and have a payment plan with the G'mach to pay the cost back over 2 years, on a monthly basis.

amother

Periwinkle

Thu, Oct 22 2015, 9:39 am

I think someone misunderstood me here. I am willing to give the apartment for cheaper because of this. and the tenant will paint and scrape and I would give them a two year lease so they wouldnt loose out. does that sound ok? can you tell me if you understood? if yes would that be people here in lakewood would take? given there is a huge demand.

Chayalle

Thu, Oct 22 2015, 9:42 am

amother wrote:

I understood. It sounds like a reasonable compromise. However, if you find that the apartment is not quickly taken, then an alternative would be to borrow the money rather than lose rent money.

amother

Periwinkle

Thu, Oct 22 2015, 9:47 am

the problem is I cant shell out and I would never go to gemach for such a thing. so the only option I have is they can do it alone and I wouldnt charge them for it. does this sound fair? is there someone willing to do this? right now I dont have the cash. after afew months I will have rent money and I can do it then if they want. but need to be willing to move in either this way or shell out the money. those are the options. dh has a problem with borrowing money altogether and for such a thing definitely not. so these are the options.

Chayalle

Thu, Oct 22 2015, 9:51 am

amother wrote:

It sounds fair. There are some who would be willing to do this and some who would rather not have the headache, so hopefully you should be able to find a renter. See how it goes,

amother

Periwinkle

Thu, Oct 22 2015, 9:54 am

I will probably have to give it even cheaper because I cant loose out on rent money for very long. I just dont have a choice. I dont know if dh would even think of going to a gemach and I dont have who to borrow from.

summer0808

Thu, Oct 22 2015, 10:01 am

Just beware, dont undercut yourself too much. Look at the masa umatan rental list and see the prices, then undercut by a little. If it's too much, the tenants may think there's something wrong with it!

Also, I would make up that the tenant's low rent is contingent on them painting/scraping. Otherwise you'll only get the low rent without the benefit of the repair getting paid for!

amother

Periwinkle

Thu, Oct 22 2015, 10:24 am

can someone tell me how much is a 5 bedroom 2 1/2 bathroom go for in a developement? I just dont want to go look in masa umatan cause I dont know what is a developement. when I look in locations I have absolutely no idea if its a develoment or a street. can someone help me? also can someone tell me aproximately how much would it cost to paint such an apt and scrape? I can call pp in the business I was just wondering if someone knows off hand and if they had done it recently. thanks so much. I dont live near that apartment and its hard for me to get there. its hard to leave everything on dh as he works long hours. thanks in advance. really appreciate it.

amother

Puce

Thu, Oct 22 2015, 12:03 pm

OP

I am a little concerned. How are you going to take care of the house if you are not able to get there. There are always issue even small one, plumbing etc.

You need to make sure that your tenant will care about the house and won't let the children destroy it.

Do you have any friends who rent a house you can ask them what range of rent do they pay?

Perhaps if it is to difficult for you to take care of a rental, it might pay to sell the house

amother

Chartreuse

Mon, May 16 2016, 8:53 am

amother wrote:

I have the exact same question as we're looking to move to Lakewood this summer and looking for a rental August 1. We would love at least four bedrooms and two bathrooms but do not want to spend too much money. Can someone recommend some good developments for a litvish couple with 5 kids ranging from almost 11 to a baby? Thank you.

amother

Coral

Mon, May 16 2016, 3:00 pm

You're lucky in the timing, as it's a tenants' market and prices have gone down. Just about every development has plenty of litvish/yeshivish people living there. The ones that are a bit older, rather than brand new, are going to be cheaper and have older kids living there.