Tips for making the best of an expensive rental market
Rental markets everywhere are tough these days – lots of renters and a decreasing number of available units. This is pressuring prices upward, which turns markets even further against renters. Here are some tips to help you find the best prices wherever you are looking:
1. Use the Internet for all it’s worth. RentCafé is a great place to start. You can complete the entire rental process from identifying the property you want to picking a unit, to applying and signing the lease with an e-signature. This can give you a serious advantage when battling against other renters in a tight market. If you are looking for non-traditional renting situation or feel the need for a walk-thru, you can use online rental resources to gage prices, find out how busy the market is, and discover some nearby alternative locations that you might not have considered.
2. Let friends & family help. Word of mouth may be your most powerful tool in finding an affordable place to rent: you might hear of a place just before it comes onto market, or even be offered a better deal because you are a friend of a friend. Let the people close to you know you are looking for a new residence and see what happens.
3. Check for sale listings. Many houses currently for sale have been languishing on the market some time. You might consider asking some of these owners if they would consider renting, at least short term. This might be only a temporary solution, but it could bring big savings since you are the one driving the rent negotiations.
4. Find out if the rent is appropriate. All this takes is a little online investigation. If the rent asked for is high, see if the landlord is willing to come down. As long as you are willing pass on the rental, it always makes sense to explore if there’s wiggle room in the asking price.
5. Lead with your best. If you have great credit, let the landlord know up front. Same thing with your rent payment history: if you’ve never been late, get that right out in the open. The market is clogged with renters who have spotty records, make sure the landlord knows that you stand out from the rest.