It can be a jungle out there! When finding the right apartment home is half the battle, landing the lease in a competitive market can be the other challenging half. After spending days or weeks scouring countless rentals to find a place that meets your needs, you may discover that you are not the only one who is hoping to move into a particular place. Here are some tips to help you stand out from the crowd.
Searching for a Rental Home? Remember These Four Easy Steps!
Be seen
If you are able schedule an appointment for a tour of the rental, don’t let the opportunity slip past you. Many property managers are taking advantage of new technology that allows prospective renters to schedule a tour online, 24 hours a day. On Apartments.com, look for the green ‘schedule tour’ button on the right side of the ad page. If the advertisement does not show the option to schedule a tour online, a phone number or contact form will be your alternative method to contact the property to request a tour.
On the day of your tour, be sure to arrive neatly dressed and on time. Confidently introduce yourself, show friendliness, and be prepared to ask questions. This is your chance to show that you are very interested in the property (and as a bonus, it allows you to assess the environment in person). If the landlord is unavailable to give you a tour, ask if you can take a self-guided tour. A self-guided tour allows you to pick up a key from the landlord to view the rental on your own. Swinging by the office will still allow you to be seen, which can set you ahead of the pack if you make a very good impression.
Be inquisitive
Taking the opportunity to ask a few thoughtful questions, such the age of the building, parking rules, and how maintenance requests are handled, will help show rental agents that you are an engaging person who is also focused. Both qualities can help distinguish you as a memorable prospective tenant.
Searching for a rental on Apartments.com is an excellent way to look at other rentals in the area to comparison shop. If the rental of interest has a significantly higher rate than similar rentals within the vicinity, make mention of your findings and ask if there are any unique qualities or amenities that set the rental apart. Perhaps the rental has undergone recent upgrades. This is your chance to obtain intel that competing applicants may not know!
Asking questions can give you information over and above what you read on the rental’s advertisement. What does the application process entail? Is there a background check? How soon is the landlord looking to fill the rental? If you learn, for example, that the landlord is looking to fill the rental within a month, don’t hesitate to let it be known whether you can move in within the given timeframe. You may discover that some landlords are open to negotiation.
Be prepared
Timeliness is an important key in landing the apartment of your choice in a competitive market. If you have submitted an application and the rental agent reaches out, it’s a very good indication that your application is in the process of being reviewed. Don’t let the momentum wane (or lose your opportunity to lease the rental) by failing to promptly respond to requests or messages. You may be asked questions such as: How soon are you able to move in? How many people will live with you? Why are you moving from your current residence?
You may be asked to furnish documents as part of the background check process. Standard requests for supplemental documents include paystubs, bank statements, and a list of references. Having these items on hand at the time you apply means that you are ready to present them upon request. It will also be helpful to already know if your credit is in good shape, as it is customary for a landlord to view an applicant’s credit report. Having a not-so-great credit history doesn’t automatically mean that you won’t stand a chance at landing the apartment of your dreams, but you should be ready to address any questions related to your ability to pay your rent in full and on time every single month.
Make sure that you obtain a written list of the financial obligations that you’ll need to pay in advance so that you are not caught off guard at the lease signing. In addition to the first month’s rent, a landlord may want the last month’s rent, a security deposit, and a pet fee (among others) in advance of the move-in date. In a competitive market, letting the landlord know that you already have the necessary funds set aside to pay the required upfront fees can give you significant leverage over someone who is unprepared and must ask the landlord for a few extra days to pull the money together.
Be flexible
Landlords want to fill vacant rentals as quickly as possible. In a highly competitive rental market, vacant rentals can fill up lightning fast! Flexibility on all fronts can be a tremendous game-changer. Being open to adjusting your non-essential preferences can widen options and increase your chances of finding a place quickly. Maybe you’re dreaming of a unit with a balcony and in-unit laundry, but if you can compromise on those features in favor of a great location and high-speed internet service, you’re more likely to secure a home that works well for your needs.
Being flexible with your move-in date is another powerful advantage. If you’re able to move sooner rather than later, it could make you a more attractive renter to a landlord eager to fill a vacancy. Similarly, expressing openness to longer or shorter lease terms can set you apart from other applicants. Some landlords might be looking for renters for a specific lease duration, and your flexibility could place you at the top of their list.
Expand your search radius to include nearby neighborhoods or areas you might not have initially considered. Sometimes the perfect rental might be just a few blocks outside your ideal location, offering everything you need at a great value with fewer competing applicants.
By staying organized, being proactive, and stepping in with a positive attitude, navigating the rental market doesn’t have to be stressful. With these tips in hand, you’ll be well on your way to finding—and securing—your dream rental. Happy apartment hunting!
