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Boston Luxury Condos for Sale and Apartment Rentals

Boston luxury condo rentals: Update

Boston condo apartment rents keep rising, not just in downtown Boston, but throughout the country.

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It’s been a while since I’ve discussed the Boston luxury rental market. So let’s start today.

The Boston luxury condo rental market has a low vacancy rate.  Why the shortage of inventory? It is a combination of an increase in both population and employment growth coupled with more individual landlords converting to Airbnb/short-term furnished rentals. That unfortunately doesn’t leave Boston apartment renters with much of any selection for housing. Due to the scarcity, rents have increased tremendously.

The average 1 bedroom in the county is now close to $1,800 per month and in Boston, it’s closer to $2,500. Owners can now be extremely selective in who they rent to. We are frequently seeing owners advertise “no pets” or “no college student” on almost every listing. Additionally, the credit score minimum has increased dramatically for most owners and management companies. Applicants used to get away with lower credit by paying a higher deposit but that is not the case any longer.

Some owners will even discriminate against families, requesting just a single individual, or that no more than two adults may live in the rental (however this type of discrimination is certainly a Fair Housing Violation). The shortage of options, increase in prices, and stricter rental requirements make for an awfully daunting rental market.

We have firsthand experience in the rental market as Dianne and Jonathan on my staff frequently helps prospective renters find homes and owner lease out their investment properties. Having property management knowledge on both ends has enabled us to develop a strategy to help all renters even in a tough market.

Tips on Negotiating with a Landlord

Last week the Boston Herald did an article on how to negotiate with Boston luxury condo landlords. Here are a few tips:

  • Know your rights – if a landlord is going to raise your rent they are required to give you written notice and it cannot be increased during an active lease.
  • Understand the market  – Be informed, that you should know the average price for an apartment in your Boston neighborhood. And simply ask the landlord this is why I think you shouldn’t raise the rent based on these comparable listings. If you’re a good tenant pay your rent on time, in most cases the landlord won’t want to lose you as a tenant, so you do have some negotiation power on your side.

If you are looking for a rental, we suggest the best way is to line yourself up with someone who has experience. If you have questions or are interested in you can reach us at 617-720-5454 or realtyford@ yahoo.com

We can take the stress out of your rental search!

Browse Downtown Boston Luxury Condos

All Boston Luxury Condos for Sale $500,000 – $15,000,000

Back Bay Boston  Luxury Condos for Sale $900,000 – $10,000,000

Beacon Hill Boston Luxury Condos for Sale $550,000 – $3,000,000

Charlestown  Luxury Condos for Sale $350,000 – $3,000,000

Fenway  Luxury Condos for Sale $450,000 – $2,500,000

Financial District Luxury Condos for Sale $850,000 – $12,000,000

Midtown-Downtown High Rise Luxury Condos for Sale $900,000 – $20,000,000

Seaport District  High Rise Condos for Sale $1,000,000 and up

South Boston Luxury Condos for Sale $650,000 and up

South End Luxury Condos for Sale $650k and up

West End High Rise  Luxury Condos for Sale for $650,000 and up

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Boston Luxury Condos for Sale