Saturday, September 20, 2008

Rentals
A reader asks,
How are 'The Rentals' over $5,000.00 per month - moving in the Old Greenwich - Riverside Area - is the 'Rental Market' slow too??
Is it a plus to rent the house along with all the furniture - yes - fully furnished?

I don't know much about the rental market but I hear that it has slowed and that prices have been falling for several years now - the latter may change if buyers want to wait and see what happens to the single family market.
In the past six months, 64 single family homes in Old Greenwich and Riverside rented for $5,000 or more (or at least asked $5,000 or more - some actually rented for less than that) and there are currently 29 houses actively for rent. I would think, but do not know, that the market will slow down now that September 1 has passed.
Furnished or unfurnished? Definitely unfurnished. Most houses are rented that way and most tenants already have their own furniture. A temporary tenant, one waiting for his own house to be finished, say, may have his furniture in storage and might welcome the opportunity to leave it there but, as a rule, I think unfurnished homes rent faster and more easily.

1 comment:

Anonymous said...

Thank you - Chris - I am pleased to see how many houses were rented - good points about furnished or not - I would think there may be some interest in those who want to rent for 6mos to a year - while looking for another home or waiting for the market to improve. Please continue to keep us posted on what you see and hear - Sept. and Oct. should be interesting months - and - I'm sure the market slows down - even more than it has - come Nov, Dec. and Jan. I did see the 'Fall Section' in the Greenwich Time - there were certainly a-lot of beautiful homes on the market and a-lot of 'Public Open Houses' - so - I hope that is a good for you - Chris - like you said - opportunities come on the market all the time - some of us just have to wait a little longer to find what we are looking for.
Thank you for your great service -we all are learning a-lot from you-Chris!