Negotiating rent?

[Michelle Marty]

my husband and I built a new home that was completed january 2012. Just a few weeks ago he accepted a job promotion out of state. Because we built the home there is little to no equity so we've decided to rent it for a few years. I listed it on craigslist. I didn't post any pictures and said it wouldn't be available until Jan 2012 just to see if there was any interest out there or if I'd need to hire a leasing agent. I got a response 2 days later from a man who asked a lot of questions. Finally he asked if price was negotiable. He's never seen the inside of the house. My husband and I own other rental properties but these were purchased with the intent of them being rentals in a high rent area so they rented out very easily. Since this was our primary home and at a much higher price point I wasn't sure what to expect. I have the house listed at $500 higher than our mortgage payment and monthly taxes so I could come down. The house is priced at fair market rental value. If this were you would you come down or wait it out?

[Michael Seeker]

It sounds quite strange that somebody would try to negotiate rent before even seeing the house. If they are very familiar with the area, then maybe they already know/feel like it is in a good enough neighborhood that they don't need to see it.

If I were you I would post pictures of the property and repost the listing to see what kind of interest you get. With around a month to go before you need to rent it, it sounds like you haven't put forth the full effort to find a tenant.

If the guy seems legit, I would simply tell him that you would be fine writing up a lease at your listed rent right now, otherwise you will continue to market it for the next month or month and a half and you MIGHT come down a little bit on the rent if you can't find somebody willing to pay the full amount.

I would be careful as there usually isn't as much demand for higher end rentals in a new construction area.