From Where To Choose A Realtor for Scattered Rental Viewings? (Boston: for sale, apartments) - Massachusetts (MA) - City-Data Forum

itscolduphere · 03-18-2011, 03:37 AM

My husband has a fantastic job offer in Cambridge. We are currently in NC running a freelance software business out of a 3,000 s.f. house. We would get to continue this business in addition to the job in MA, which will be great for us, someplace in the greater Boston area... the catch is we need to find as much space as possible (not a lot of time to downsize but we do expect to rent a lot of storage) without too much commute time for hubby. That limits what we will be looking at. Tons of apartments are available; but they don't work well when you need lots of space and quiet.

Since housing requirements are so specific, I do have things picked out to view, but they are scattered all over the metro Boston area. So the question is where I should choose an agent from?... Maybe from a town I would be interested in purchasing a house in eventually? (to establish a relationship with now, even though I have no rentals to view in that future town of interest). I have two to view on my list that are in the same town, so should I choose one from that town?

I'm not sure how enthusiastic agents are up there about showing rentals vs. homes to purchase (obviously more lucrative because of the commission). I was looking in CT for quite a while before the job was even in the picture, and have found them to be quite accommodating. What should I expect in MA?

Thanks in advance for input! (This would be a good one for CapeCodCathy?)

QuilterChick · 03-18-2011, 06:03 AM

Quote:

Originally Posted by itscolduphere

My husband has a fantastic job offer in Cambridge. We are currently in NC running a freelance software business out of a 3,000 s.f. house. We would get to continue this business in addition to the job in MA, which will be great for us, someplace in the greater Boston area... the catch is we need to find as much space as possible (not a lot of time to downsize but we do expect to rent a lot of storage) without too much commute time for hubby. That limits what we will be looking at. Tons of apartments are available; but they don't work well when you need lots of space and quiet.

Since housing requirements are so specific, I do have things picked out to view, but they are scattered all over the metro Boston area. So the question is where I should choose an agent from?... Maybe from a town I would be interested in purchasing a house in eventually? (to establish a relationship with now, even though I have no rentals to view in that future town of interest). I have two to view on my list that are in the same town, so should I choose one from that town?

I'm not sure how enthusiastic agents are up there about showing rentals vs. homes to purchase (obviously more lucrative because of the commission). I was looking in CT for quite a while before the job was even in the picture, and have found them to be quite accommodating. What should I expect in MA?

Thanks in advance for input! (This would be a good one for CapeCodCathy?)

As a retired Realtor in MA, RI and NC, I can tell you that Realtors normally do not handle rentals unless they have a home for sale that is a rental with option to buy possibly and your options are very limited.

What you need is a property management company. Also read the local newspapers for the towns you are interested in for homes for rent.

Hollytree · 03-18-2011, 06:29 AM

Your instincts are good. Many realtors will eagerly work with you on a rental home with the idea that you will buy from them eventually. You might contact some in the area where you want to rent and then either continue with them if you like them or ask for a referral.

I know that here in RI, you must have an RE license to show house rentals (unless you're the owner of the place obviously) and the latest trend is to establish companies such as this one:
Providence Apartments | Rentals in RI | Providence Apartment Rentals | Rhode Island Rentals | Rentals RI | The Rhode Guide

itscolduphere · 03-18-2011, 06:35 AM

I suppose I could just contact the listing agents for the house/townhouse rentals I see on raveis or realtor.com if what first reply says is true.

capecodcathy · 03-18-2011, 11:40 AM

As a former Realtor, rentals are the bottom of the barrel. Very little pay for a whole boatload of work. Just being honest.
That being said...........get in touch with a Broker/Agent who covers all the areas in which you are looking. Whether or not that individual agent covers the entire area. If the Agent is in it for the long haul, he or she will look at you as a future sale. Let's face it, Brokers/Agents have to earn a living, too.
This does not mean that you have to search for a nationally recognized chain. More landlords seem to go with more "local grown" Agents that cover more than one town.
Also, don't forget about Craigslist. Despite the bad rap it sometimes gets, it can be a great source.

itscolduphere · 03-18-2011, 03:33 PM

Just heard back from my excellent agent in Avon, CT that I used while still looking around there; she says she can find someone to help me up in MA. Capecodcathy thanks for your reply :-) Yes, if I were an agent, I would prob. go the extra mile esp. if I had some extra time, to generate a future sale. (esp. in this economy).

capecodcathy · 03-18-2011, 04:12 PM

Now, if you're looking to buy in the Avon, CT Agent's area in the future OR in the area/agent she is going to refer you to, make sure you return to the source. Referrals are another source of income for an Agent.
I'm glad you found an Agent who appears to be reputable.
Best of Luck!!!!
And let us know how it all turns out for you.

breezy1 · 03-18-2011, 06:06 PM

We worked with a realtor to find a rental home in the Boston area. You will need to be prepared to pay the fee of one month's rent - In the Boston area, the tenant pays this. Also, you'll need a month's security deposit and some places also ask for last month's rent deposit as well. So worse case scenario - paying 3 months rent for fee and security deposits, then you still have to pay your first months rent! If you work on your own, i.e., via Craig's list, then you can look for places that state, "no fee."

BTW - we found a great house to rent - probably wouldn't have found it on our own coming from out-of-town. The rental market is very tight here and nice places that come available with lots of space, will rent very quickly for high amounts. Be ready for a reality-shock coming from NC when you see the quality of what you will get here (old and needing updates) and how much they want for it (and will get due to the tight market). Most of the houses we looked at to rent were run down, or in not-so-good areas. We were very lucky to find the one we're in - good size (we didn't have to put our stuff in storage) with updated kitchen, bathrooms, floors, 2-car garage (not common in close-in towns) and central A/C (which is also uncommon).

capecodcathy · 03-18-2011, 06:16 PM

breezy1............I don't know who you were working with, and I don't really think I want to. The LANDLORD pays the fee of one month's rent. That was a sweet deal for the landlord!
Maybe you were asked for "first, last and security"? Security usually equals one month's rent. But the landlord usually pays yet ANOTHER months rent to the Realtor/Agent for their services. Chump change for the newbie the Broker delegates the rental to. The Broker gets 50% of that fee plus E/O and desk fees. Which is why most Realtors won't touch a rental.

itscolduphere · 03-19-2011, 03:41 AM

Quote:

Originally Posted by breezy1

The rental market is very tight here and nice places that come available with lots of space, will rent very quickly for high amounts. Be ready for a reality-shock coming from NC when you see the quality of what you will get here (old and needing updates) and how much they want for it (and will get due to the tight market). Most of the houses we looked at to rent were run down, or in not-so-good areas. We were very lucky to find the one we're in - good size (we didn't have to put our stuff in storage) with updated kitchen, bathrooms, floors, 2-car garage (not common in close-in towns) and central A/C (which is also uncommon).

We're only in NC temp. and are used to the Northeast market, (bought a house in the Farmington Valley CT in '05 and lived there 4 years) although CT is not quite as expensive as Boston. But, we are fortunate to have a decent price range and I guess if worse comes to worse we can rent a modern, comfortable Back Bay place (modern=gutted and remodeled victorian era buildings from what I'm seeing available online) and put more things in storage. Whatever route, I prefer to be an optimist knowing it's only temporary until we buy, if my husband likes the job. Great thing is if he doesn't like it, it's on to good ol' CT as originally planned, and just continue our freelance business.

I think that anyone going into a new situation in a state of fear is going to attract bad surroundings. I prefer approaching this new set of options, which is all it is (don't have to take the job/move there), with a positive attitude. If it's meant to be, a nice place to live will show up.

Thanks CapeCodCathy for the clarification on the "fee". Will let you know how it turns out. And yes, I do remember helpful people and will generate referrals to either agent whenever the opportunity arises. A good agent is worth their weight in gold. Thanks for your posts!