The asking price is not always the final price...even for rentals!

Of course when people put their home on the market for sale, they usually make the listing price higher than what they expect to get. This gives them some room for negotiation, and even cross their fingers for the chance that someone is willing to pay more than they expected. Surprisingly, the same goes for rentals.

Down in North Carolina, rental prices are in line with the saying..."what you see is what you get." Prices of rentals hold true to their asking price, and usually there is not much negotiation room. Very different story in Northern Arlington. Some owners ask a higher price than what it is "worth," or what similar properties have rented for in that building. There are some reasons for that. Firstly, someone might actually bite. If someone loves condominium, they might be willing to pay a little more than normal to secure it. Another reason owners might up the price is if there are no comparables. Especially in Northern Arlington, many renters know EXACTLY which building they want to be in. They request Realtors who know the ins and outs of a specific building to find options solely in one building. If there are no other comparable condominiums for rent, the owner holds a monopoly, and can ask a higher price. Also, if an owner knows ahead of time that the current tenant is leaving and has a gap before he/she needs to fill the condominium, they can afford to put a higher price, and then decrease price if need be.

With this being said, don't overlook properties that are slightly out of your price range. I'm not saying if your budget is $1800 look at places for $2500, but extend your price bracket up initially. When I run searches for clients I usually add $100 to their upper budget. So, in short...if you're looking for a rental, know that SOMETIMES (don't quote me assuming every condominium is the same) can be negotiated down.