Executive Rentals In Cleveland Ohio

Finding a luxury rental home in some cities may be simple, but it is fairly difficult here in Cleveland.  If you are relocating to the area and wish to rent a high-end property, it is important that you have realistic expectations. Having personally relocated many years ago, we know what it’s like finding a great rental here and it’s not easy.

In this post, we will discuss the limited inventory,  reluctance for sellers to consider renting, and the need to hire an agent with the right connections.

 

LIMITED INVENTORY


 

 

 

 

 

 

 

Unlike many larger US cities where renters often have numerous options, the number of high-end rental properties here in Cleveland is typically very low. In cities like Miami and New York, it is not uncommon for affluent members of the local community to own several homes across the country, making it easier for them to offer one for rent.

In Cleveland, the number of folks who fit this category are much fewer.  Although there are quite a few snowbirds, these homes wouldn’t be available as year round rentals.

Many people think that today’s slower real estate market means that more sellers should be willing to rent, thus increasing the inventory in that market.  This is not the case.

In the lower-end housing market, there are a ton of affordable rental options as these sellers are typically more financially motivated to rent.  When it comes to luxury homes, some owners either don’t need the money bad enough to take on the risks of renting, or don’t want others living in their home.

LUXURY SELLERS RELUCTANT TO RENT

Unlike other sellers, luxury home sellers are not usually as excited at the thought of offering their home as a rental property.  While many would love to have monthly income coming in, they view renting as a possible risk.

Most people have never been landlords and the thought of renting their home is a little bit scary. Many have put a lot of time and money into their homes, and simply don’t want strangers living there.  There is certainly the fear that renters, people who have no vested interest in the home, will not properly maintain the property.

YOU NEED THE RIGHT AGENT

Working the luxury rental market is a specialized skill that not every agent possesses.   Not only does an agent need great relationships with all the local luxury “players” and local company real estate managers, but they also need to have the proper contacts deep inside the communities as well.  Friends and past clients living in specific areas are often a great resource in finding potential rentals.

The most challenging transactions I ever had were finding high-end housing for local professional athletes. The players themselves were great, but finding the right place was a daunting task.  It took a lot of time and I couldn’t have done it without my “golden rolodex” of contacts.

If you are moving to Cleveland and want to rent a luxury home, it’s certainly possible but will require patience and flexibility. You will also have to be prepared to act quickly as there is high demand for this type of housing.

In the end, your success will likely be determined by having a knowledgeable local luxury agent by your side.

Here are other articles of interest pertaining to finding Cleveland area homes:

Choosing An Agent: Local Is Better

How To Choose The Right Neighborhood

———————————————————————————————-

About The Authors

The above information pertaining to Cleveland luxury  homes was provided by Dan and Amy Schuman of The Schuman Team Howard Hanna.

Dan is an Accredited Luxury Home Specialist and Amy is a Certified Luxury Home Marketing Specialist. They can be reached at:

216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

Executive Rentals In Cleveland Ohio is the property of The Schuman Team and may not be duplicated or used without their written consent. ©September,2011

One Response to Executive Rentals In Cleveland Ohio
  1. Suzanne
    September 15, 2011 | 8:42 am

    I am planning to visit there but not have a rentals in Cleveland…I am not yet decided for that…
    Suzanne recently posted..italian chandeliers san francisco

Leave a Reply

Wanting to leave an <em>phasis on your comment?

CommentLuv badge

Trackback URL http://www.clevelandhousingnews.com/2011/09/executive-rentals-in-cleveland-ohio/trackback/