Are rental prices coming down at all?

amother

Wed, Dec 20 2023, 12:28 pm

What are you paying/charging?
Include age of house because it makes a difference.

It seems like there's not such a crazy shortage anymore. So are prices coming down at all

GLUE

Wed, Dec 20 2023, 2:08 pm

I looked through the Masa list last week in Sterling forest you can get a basement for $1600, West gate basements have also gone down.

It's hard to know because most people don't list there price, I would think that the people who are listing available now would be more open to neg. then those that say ready Feb 1.

The Masa has been at 9 pages sometimes 10 for the last few months. Some places are just place holds that you can have cheep rent until Peasch when the vacations come and they can make a lot of mony renting it out by the week.

amother

Chestnut

Wed, Dec 20 2023, 2:40 pm

I don’t think they are going down but they aren’t going up either.
The only rentals that are going up are the ones that didn’t go up in the last 2 years and the landlord decided to ask for more now.

mig100

Wed, Dec 20 2023, 3:45 pm

GLUE wrote:

How much does it cost per week. Im curious

amother

RosePink

Wed, Dec 20 2023, 4:24 pm

It's gone down overall from where it was a year ago but some people are still trying to get what their neighbors managed to get then and keeping it higher even though the demand is way down

GLUE

Wed, Dec 20 2023, 5:16 pm

mig100 wrote:

How much does it cost per week. Im curious

Summer price or winter price?

GLUE

Wed, Dec 20 2023, 5:23 pm

mig100 wrote:

both just curious

I don't know really, I am not in the business.

It is location depended and what you are offering a place with a pool goes for more,
Last summer I heard that some people were getting $3,000 a week some got don't know if this is true or hype some got $20,000 for one month.

Form Sukous to Peasch I saw someone advertising $2,000 a month, I guess there is not to much demand to rent in Lakewood for the winter.

mig100

Wed, Dec 20 2023, 5:59 pm

GLUE wrote:

Thats nuts. 3k a week for an apartment? How big?

amother

Viola

Wed, Dec 20 2023, 6:06 pm

I am trying so hard to rent out a house. We dropped the price so much and getting nowhere. We are really desperate because the mortgages nearly doubled from when we started the process on paper. FYI, the house is in a chassidish area.

amother

Wed, Dec 20 2023, 6:09 pm

amother Viola wrote:

What are you asking for?
How many bedrooms/bathrooms?
Would you rent to non Chassidishe?

amother

Hydrangea

Wed, Dec 20 2023, 6:14 pm

GLUE wrote:

$3000 a week is for a furnished house likely with a pool - basically like airbnb

amother

Viola

Wed, Dec 20 2023, 7:01 pm

amother OP wrote:

What are you asking for?
How many bedrooms/bathrooms?
Would you rent to non Chassidishe?

Duplex, 5+ bedrooms, 3.5 bathrooms, really beautiful and upgraded like island in kitchen and hardwood flooring throughout.
asking 3,800

amother

Wed, Dec 20 2023, 7:02 pm

amother Viola wrote:

Duplex, 5+ bedrooms, 3.5 bathrooms, really beautiful and upgraded like island in kitchen and hardwood flooring throughout.
asking 3,800

What price did you start with?

amother

Poinsettia

Wed, Dec 20 2023, 7:15 pm

It’s going down.

We just signed a lease on a duplex.

But I looked at a diff duplex that went from $3200 to $2900 and it’s still empty. In finchley commons. Brand new condition.

GLUE

Wed, Dec 20 2023, 7:19 pm

I guess this is why nobody is putting in prices after all maybe someone will not realize that the price is going down and will not try to neg.
If they put a lower price in the ad they will not be able to go up.

amother

Lightgray

Wed, Dec 20 2023, 7:35 pm

Prices are definitely dropping.
People like to talk big but in reality its really hard to get these big numbers that people claim to be getting.
The list in the masa umatan is pages and pages long. Contrast that to three years and a half years ago when it was a 1/2 - 1 1/2 pages. There was literally nothing to be had.

(Same with jobs btw. People love to say that how its an employees world but when you speak to recruiters you get a dose of reality.)

Sure there are people that got/are getting inflated prices for their rental but they are the yotzei min haklal.

amother

Navy

Wed, Dec 20 2023, 9:23 pm

I know a few people that thought that their rental would be snatched and had to lower their asking price. I think it is trending downward.

mig100

Wed, Dec 20 2023, 11:02 pm

amother Viola wrote:

Duplex, 5+ bedrooms, 3.5 bathrooms, really beautiful and upgraded like island in kitchen and hardwood flooring throughout.
asking 3,800

Can u pm me?