After the sub-prime mortgage crisis, foreclosures have increased by leaps and bounds which has also increased the number of renters. A lot of renters are facing stiffer competition for vacancies and higher rents. It is suggested that the renters should take some time off and check out the oddity of their particular market and then start applying for rental properties.
Here are 5 handy tips for the renters which might help them get a rental property easily:
1. Verify landlords: As an apartment hunter, the renters will always know what to look for in terms of buildings, amenities as well as locations. However, experts' advice that renters should take time out to visit the landlords as well. This will let the renter know about the customer service provided by the landlord. It will also help them choose buildings where repairs are dealt with quickly and professionally.
2. Bargain over rent: One thing which renters should keep in mind is that though landlords don't advertise, rent is always negotiable. However, to some extent the rent will depend upon the local market. In order to get a reduction in rent, tenants should show the landlord they're serious about renting the property. This can be shown by letting the landlord know that you're ready to sign a lease agreement asap.
3. Take back the deposit money: Renters should not forget to take back the deposit money that they have given to the landlord. The deposit money protects the landlords from tenants who skip out on rent, and pay to repair damage beyond wear and tear. If the tenants want to get back their deposit money, they need to be proactive when moving into and out of an apartment. Apart from that, while living in the property, they should also document repairs, upgrades or any changes. When the renters decide to move out of the property, they should request for a final walk-through with the landlord and also keep a witness who will be of great help in case of any dispute later.
4. Discuss any changes to the dwelling: The renters should always remember that it is after all a rental property and not your own home. So, the renters don't have the right to make changes without permission. For any cosmetic changes like changing the wall paint, just ask your landlord before doing the changes. The worst they can do is saying a no. If the renters do the changes without the landlord's permission, then there are high chances that they will lose the deposit money.
5. Don't pay extra for your pets: If you're a renter with pets, your landlord can charge your extra deposits. There are certain landlords who will charge you a monthly fee for your pets above that extra deposit amount. It has been found that pet rent may vary from $25 - $100. It is advised that you should look for landlords who don't charge double fees - both deposit as well as monthly pet rent.
I hope these tips will help the renters while they are searching for a rental property.