Shortage of rental properties in America has been one of the primary reasons for the steep rise in rents recently. Furthermore, renters are in a difficult situation because their income is growing at a slower pace. So, finding a rental that is decent and affordable may prove a challenge.
Though it’s almost impossible not to get affected by these market trends, prospective renters can still beat the competition to some extent. If you are looking for a rental, here are some tips which can help you stay ahead of the competition and get a good rental deal:
Act early to beat competition
If you wait till the last moment for sending a rental application, you are likely to end up last in the queue of several other applicants. The best way to beat the competition is to be proactive. It means that you should have your credit and background checked before you start shopping for rentals. You can get credit and background reports from www.accurental.com. These reports will enable landlords to process your rental application quickly.
You can contact good property management agencies working in the neighborhoods where you are looking for a rental. Get yourself pre-approved from them. So whenever they come up with a rental listing, you will be among the first few applicants.
Know when the competition is most severe
You should know when the competition for rentals is the most severe. For example, lots of college students shop for rentals from spring to summer. You can obviously avoid this period. If you are shopping for a rental, try to find out when you are likely to compete with the least number of rental applicants.
Make your first contact impressive
How you respond to a rental ad can have a great deal of impact on the chances of your rental application’s approval. Many applicants make their first contact with the landlords via email or phone. You should incorporate as much information as possible when you respond to a rental listing. For example, you can include your credit and background check reports. However, you should be careful not to submit personal information more than what is required. Also, if the landlord has any queries, you should answer them promptly and in detail.
Know how to deal with a landlord
If you assume that there is no scope for negotiations due to competition, you are wrong. If you are dealing with a property management agency, then there could little room for negotiations , but if you are in contact with the landlord directly, you may get a chance to negotiate on the amount of rent. Depending on the competition, you may need to make your offer attractive to the landlord. Paying a higher amount of rent in advance can establish you as a serious applicant who is ready to make a long-term commitment.