Planning to Rent? Here are 6 Tips to Make it Easier
Todays housing market not only proves to be challenging for most buyers and sellers, but some renters are also finding it is not-so-easy to secure a rental property. The best course of action is to be prepared. Here are some tips that will make the process smoother:
~Decide on a nieghborhood that best fits your needs and lifestyle. Getting this information is easier today than it has ever been. My website contains tons of information on communities in the area as well as relative links to area attractions. Statistical information links on shcools, crime and weather can also be an inportant factor when deciding on a neighborhood.
~Make of list of your "likes" and "must haves". How many bedrooms do you need? Do you have to have more than 1 bath? If you have pets, will you need a fenced yard? You might like to have a garage, but is it a "must have"? What can you afford? When searching for a rental property your objective is to weed out the properties that will not work for you. Try to limit your choices to 4 or 5 properties to preview.
~Schedule an appointment with your agent to preview properties. Rentals become available to show about 30 days before they are ready for occupancy. If you need to move by January 1st, begin looking during the last week of November or the first week in December. Generally property ownrs do not want to hold a property for more than a few weeks to a month.
~Know what your credit looks like. A persons credit has never been more important than it is today. It is one of the tools that property owners utilize to make decisions about accepting an application. An applicant doesn't always need perfect credit, but generally this report provides a picture of how responsible the tenant will be with regards to paying the rent and utilities on time.
~When you apply for a rental property, be prepared to provide supporting documentation when requested. Sometimes the appication processor will request pay check stubs or tax returns, or other proof of income. The application fee varies from real estate company to real estate company and generally ranges from $25-$50 per adult occupant. Aside from a credit check, the processor may also verify previous rental history, employment/income and criminal records. Make sure you have all of the information needed to complete the application.
~Have a back-up plan. If your application continues to get rejected, do not fret. There are other options. You might try searching for a for-rent-by-owner. In some cases, private landlords do not run credit, or do not place a strong emphasis on credit. Remember, Property Management companies and Realtors are hired by property owners to find them a strong quality applicant. If you are open to apartment living, we can also help you rent an apartment. While apartment living might not be prefered, remember it is only temporary while you strengthen your credit.
Call one of our agents today to get started. This service is free to tenants. Also free is the use of our moving truck to move into your rental home. Call 301-870-1717 or 800-842-0190.