Looking to Rent in Bellingham? Be Flexible (and Careful!)
By David Dunbar
“Be positive. Pay attention. Don’t give up! Keep looking… every day new listings come up.”
If you’re looking for a rental apartment, house, or condo in Bellingham, take to heart the above advice from realtor Michelle Sebio Savje. She has been in the business for 20 years and says she has never seen rental prices this high.
“I think we’ll continue to see rents increase over the next six months, and likely the next year,” reports Jon Leckie, a data journalist at Rent.com. “We had expected increases to be smaller because year-over-year prices in 2021 were compared to a depressed market in 2020, but so far that hasn’t been the case and rents continue to climb at similar rates to what we saw in 2021.”
Bellingham only has a handful of rentals on the market. There are more in neighboring towns including Franklin, Milford, and Woonsocket, RI.
Finding a suitable rental is time consuming, frustrating, and sometimes dangerous. Sebio Savje Premier Realty owner Michelle says, “There are many avenues to pursue. Facebook Marketplace, Craigslist, local newspapers, and social media can be helpful.” Also check Rent.com, ApartmentGuide.com and MLS. But she warns of “shady” offers by scammers that ask for your financial information.
“If anyone wants money before you even see the property, then it’s probably a scam,” says Sebio Savje.
“I advertise all of my properties on Facebook Marketplace,” says Josh Harris who owns Empire Properties (part of Harris & Company Landscape Design and Construction in Bellingham). Empire owns 18 properties in the area.
He typically posts an available property and “30 people message me that they’re interested.” He responds with a questionnaire and offer to talk. Fifteen respond. Five actually show up for a meeting. Three fill out applications. And only one or two get approved.
Harris started out in the rental business by “house hacking” with his family in Northbridge in 2006. And by house hacking, he means purchasing a house and then renting out half of it. “You get a lower interest rate and income,” he notes.
Empire Properties will have one rental available May 1. It’s a three-bedroom unit in Bellingham. If you’re interested, get on Facebook and send Harris a message.
Some advice from Jon Leckie: “If renters are looking to save money in a tight market, they’ll need to negotiate with their landlords. I would encourage renters to be prepared and to do their homework before coming to the negotiating table. Research the local rental market. Show the landlord you’re willing to move on price, but those prices should be in line with historical trends and the local market.”
“If that fails, renters should look to make landlord friendly concessions,” Leckie continues. “Things like longer lease terms, giving up a parking space, or flexibility on certain maintenance responsibilities can all bring down prices and are enticing to landlords.”
Given the highly competitive nature of the local rental market, negotiating with the landlord may not produce the results you want but is worth a try.
Sebio Savje suggests finding a reliable, trustworthy real estate agent who can help you locate the best property, negotiate with the landlord, complete all the paperwork while avoiding scams. As for right now, “you might just want to wait it out,” she says, “look again as rentals become more available and affordable.”
