There will be much to do beyond just simply filling out an application and putting down a deposit in a competitive rental market. While many people desire to own their homes, most expensive cities still have more homes on a lease than owners. In these cities, lease demand usually exceeds supply, and would-be tenants need to in a lot of effort to score a lease.
You can improve your chance of getting approved for an apartment, especially in a city where the competition is high. This comes by understanding what the landlord or property manager wants and offer it to them. All landlords and property manager wants on-time payments, proper care of the property, and the best returns with low maintenance.
Convincing a landlord or property manager that you’ll be the perfect tenant will require a lot of work. Following the tips below can help you score a lease in a competitive market.
START EARLY AND BE FAST
Having already browsed through pictures for several properties and settled on your choice, it is essential you fill an online application if available. Filling an online application shows the property manager/landlord your seriousness during property visitation.
Proactiveness goes a long way in ensuring that you score a lease fast as property owners/managers incur a cost when the property is empty. So please do not wait till the weekend or delay further, when you like a property go for it. You will save yourself a lot of exertion as others may be interested in the same property in a competitive city.
BE PREPARED DURING VIEWING
When invited to the property for viewing, you will have to arrive armed with documents such as your credit report, references, checkbook, etc. This helps make the application process review easy as you would have more than enough hard copy of the required materials on hand for view.
SHOW INTEREST IN THE PROPERTY
All landlords/property manager wants to lease their property to people they believe will take good care and properly maintain it. Showing interest may be the right way of expressing your desire to the landlord of maintaining the property efficiently.
Another option is to write a personalized offer letter to the landlord, expressing your desire to lease the apartment, stating a little about yourself and why you love the building. This might end up swaying the landlord in your favor and help you score the lease.
FLEXIBILITY IS IMPORTANT
Beyond showing interest in the property, being prepared and acting fast is vital in securing a lease. Knowing that there is plenty of competition for your desired property, there is a need to be flexible. Flexibility in items such as signing a longer lease may turn things in your favor. Longer lease signing tells the landlord of your commitment to the property. It also comes with the relief that the landlord won’t have to start searching for a new occupant soon.
You can also offer to pay extra on your deposit or automate your bank’s rent payment to ensure timely payment. This may swing things in your favor and help you score Alease with the landlord/property manager.
TRANSPARENCY A MUST
Ensure references are correct as the landlord/property manager will always check them to ascertain their correctness. Lying your reference creates a bad image of you as potential landlords/property managers won’t rent to someone not trustworthy.
ENSURE MONEY IS AVAILABLE
In a competitive rental market, having your finances ready to make payment is vital as many landlords lease on a first-come, first-serve basis. Delay in making a financial commitment may see someone else take your place. Ensure you have your deposit at hand before going on a property viewing, as this might help you score the lease.
Scoring a lease in a competitive market need not come with headaches. Follow the tips outline above and get the apartment you deserve.