Today’s rental market is highly competitive, so your rental application could make the difference between securing your ideal rental or losing it to another prospective renter and having to compromise.
Renters aren’t aware of how to impress landlords while applying for a rental. Remember, hunting for a rental is similar to job hunting where you must conduct thorough research, try to present yourself in the best light, get ready for an interview, and negotiate the cost. If you want to secure your ideal rental, consider these tips.
Get Organized before You Begin Searching
Organizing your paperwork beforehand will make it easy to present a complete application fast and affirm your interest once the suitable rental emerges on the market. An important first step is checking your credit rating.
In the event that you discover mistakes on the report, spend some time correcting the errors before you start your search. Simultaneously, you can begin collecting the required paperwork for your application.
Be ready to show pay stubs, tax receipts, bank statements, and some kind of valid identification. You should also gather the deposit money so you have these ready when you require them.
Offer More Cash
It’s a simple fact that money often drives negotiations. When it comes to finding a rental, the ability to offer more cash upfront gives you an advantage over other candidates. If possible, offer two month’s rent in advance; this will apply to the last and first months of your rental period.
This demonstrates that you’re financially capable of assuming the unit’s responsibility and acts as a measure of good faith. If you decide to take this route, ensure you offer more rent rather than the deposit. Offering to pay more on the deposit could make a bad impression because it implies that you intend to cause some damage.
Conduct Research on the Building and Dress Accordingly
It’s important you conduct research on the building and neighborhood before signing the rental agreement. You should also dress up the same way you would when going for an interview. This shows respect and that you’re taking the process seriously. Therefore, be presentable.
You might want to include reference letters with your rental resume or cover letter. The letters should be from former landlords. If you lack a rental history, request your employer to give you a character reference.
If you’re a recent graduate, consider reaching out to the housing coordinator. The letters are an upfront way of showcasing how excellent you are and that you’ll make a great renter.
Another way of demonstrating financial stability and good faith is offering to sign a longer agreement. This can be to your advantage because it locks you in at a similar rent cost over a longer duration.
Address Issues and Provide Solutions
If you foresee that problems might arise with your application, don’t merely sit back hoping that the landlord won’t notice. Be proactive and explain the circumstances, whether it’s a recent employment gap or a problem on the credit record.
If you feel your finances won’t measure up to the requirements, have a co-signer or offer a larger deposit. This demonstrates you’re willing to take responsibility and fix problems.
Are you hunting for the ideal apartment but don’t know how to secure it? These tips will help you stand out in your application.
For more information on how to apply for an apartment that’s rented out by the owner, contact us at Apartment Agents or leave a comment.