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S/O Going rental rate for house in Lakewood area
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amother




OP
 

Post Mon, Nov 28 2022, 1:16 pm
As a spin-off to the other thread. We are looking to move from our basement to rent a house/townhouse. We cannot afford a down payment and going interest rates are insanely high so it’s not worth it to borrow, so this is the best option in the meantime. It seems like asking rental rates are very high though and the masa umatan is getting longer by the week. Many people who I have been in touch with regarding renting their homes I am getting the vibe that it seems like the houses are sitting around. I’m thinking we should wait another month or two because prices will really go down once landlords realise that they need to be more realistic. I’m looking for people to chime in based on actually experience or what they think will actually happen.
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amother




Copper
 

Post Mon, Nov 28 2022, 1:18 pm
following
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amother




Red
 

Post Mon, Nov 28 2022, 1:20 pm
I think for homes it’s less likely to go down because there’s more of a demand for Shabbos rentals for houses than basements so it’s not as worth it to lower to just find a renter
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amother




Peachpuff
 

Post Mon, Nov 28 2022, 1:23 pm
We moved to westgate because renting a house was too expensive. We have a spacious 4 bedroom here instead. I heard westgate raised their rent prices though, maybe call the office and find out.
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amother




Copper
 

Post Mon, Nov 28 2022, 1:23 pm
before we say if it will go up or down anyone have a price of what they go for
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amother




OP
 

Post Mon, Nov 28 2022, 2:58 pm
amother Copper wrote:
before we say if it will go up or down anyone have a price of what they go for

For anything decent (2,000-2,500 sf) it’s 3k-4k
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amother




OP
 

Post Mon, Nov 28 2022, 2:59 pm
amother Peachpuff wrote:
We moved to westgate because renting a house was too expensive. We have a spacious 4 bedroom here instead. I heard westgate raised their rent prices though, maybe call the office and find out.

Thanks! Westgate is not for us. We are looking for a more heimish area.
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amother




Acacia
 

Post Mon, Nov 28 2022, 3:08 pm
following
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amother




Whitesmoke
 

Post Mon, Nov 28 2022, 3:19 pm
I rented two years ago and house rentals were already high. I’m not sure they will go down much because they don’t sit that long there is a demand and mortgage rates are high so people need to cover it. You can try negotiating for a lower price if you feel they are sitting.
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Chayalle




 
 
 
 

Post Mon, Nov 28 2022, 3:21 pm
I think the reason house rentals are high is because there is generally much more wear and tear, once you are renting to a family with growing children.
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amother




Peachpuff
 

Post Mon, Nov 28 2022, 3:23 pm
amother Whitesmoke wrote:
I rented two years ago and house rentals were already high. I’m not sure they will go down much because they don’t sit that long there is a demand and mortgage rates are high so people need to cover it. You can try negotiating for a lower price if you feel they are sitting.
Same. That’s how we ended up in WG. Our other option was to get a small Jackson house but those are definitely more cramped. If you need heimish your options are going to be more limited …
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amother




Camellia
 

Post Mon, Nov 28 2022, 5:29 pm
some of the towns around Lakewood it is not legal to have a short term renter.

Many people who buy to rent out for Shobbos find them self in hot water and end up renting out by the month while complaining how much money they are losing
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amother




Broom
 

Post Mon, Nov 28 2022, 8:35 pm
amother OP wrote:
As a spin-off to the other thread. We are looking to move from our basement to rent a house/townhouse. We cannot afford a down payment and going interest rates are insanely high so it’s not worth it to borrow, so this is the best option in the meantime. It seems like asking rental rates are very high though and the masa umatan is getting longer by the week. Many people who I have been in touch with regarding renting their homes I am getting the vibe that it seems like the houses are sitting around. I’m thinking we should wait another month or two because prices will really go down once landlords realise that they need to be more realistic. I’m looking for people to chime in based on actually experience or what they think will actually happen.
I am currently looking to rent a house in Lakewood. From what I’m seeing , the market is sparse to say the least. The few houses available can ask for a lot of rent because the demand is there. Rent I’m seeing is anywhere from 3500-4000 a month
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amother




Whitesmoke
 

Post Mon, Nov 28 2022, 8:54 pm
Would you move to toms river? Riverwood chase is heimish townhouses, I think the rentals might be cheaper
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amother




DarkGreen
 

Post Mon, Nov 28 2022, 8:54 pm
amother Broom wrote:
.... Rent I’m seeing is anywhere from 3500-4000 a month
right
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amother




Copper
 

Post Tue, Nov 29 2022, 5:12 pm
Following if anywhere cheaper in surrounding neighborhoods
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amother




Navyblue
 

Post Wed, Nov 30 2022, 11:05 am
most of these owners looking to rent out their homes need to pay they're huge mortgage so doubt they'll drop their prices that much or else they'll be losing money each month you live there...

Also-if basement rentals are going for 2k, why would a house not be $3,500. not saying its affordable but the pricing makes sense...
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amother




Zinnia
 

Post Wed, Nov 30 2022, 11:09 am
amother Copper wrote:
Following if anywhere cheaper in surrounding neighborhoods


Yes, in Manchester you can get a small ranch for around 2.5K
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amother




Camellia
 

Post Wed, Nov 30 2022, 10:53 pm
amother Copper wrote:
Following if anywhere cheaper in surrounding neighborhoods


This weeks Masa page 16

It has 3 houses listed from $2000-$2700

could be other pages did not really look
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amother




Pearl
 

Post Thu, Dec 01 2022, 10:56 pm
It’s a renters market! Negotiate the price. Most landlords are having a tough time finding a rental. Zero in on an area and decide the price you want to spend. There’s a ton of inventory available now. Use it to your advantage. It may change come spring time.
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