Everyone knows that the cost of renting a home can be very expensive. While high demand is driving up the cost, there are ways you can find a deal and not overpay.
Many people set out on their hunt for their next house or apartment with a location in mind. When doing this, it is best to avoid the large, corporate complexes that many migrate to. Instead, it is better to look for an apartment that has you working directly with an owner or manager. Being able to have personal interactions usually means that the landlord places more value on reliable renters, unlike workers at complexes. Landlords that are not involved in complexes are also not as likely to quickly raise rent.
When looking at locations, look for property that is available to be rented out, especially older buildings where there may be a better chance to negotiate rent. This can be a large advantage for potential renters, because landlords are always eager to rent property to those who meet their qualifications as soon as possible.
First impressions are always key, including when going to see property. While you don’t need to need dress as if going for a job interview, it is important to look clean and professional. After all, landlords are trusting you with their valuable asset, and you are conducting a business transaction. For that reason, landlords look for tenants with good credit scores, employment, and solid references. If any of these items raise a red flag, be ready and willing to answer questions. However, it does not mean that the landlord will not want to rent to you. After questions, conversations, and clarification, you can still be the proud renter of that property.
If a lease is too expensive for your budget, try negotiating with the landlord. Many people are surprised how easy it can be to talk the down the price. Renters can ask for a free month or a lower monthly rate for a longer lease. You can also try asking for the one-bedroom price on a two-bedroom, or a break on utilities or parking. One of the best ways to negotiate a lower lease is to offer up your services to maintain your own unit. You can offer to mow the lawn, shovel snow or perform general maintenance in order to reduce the cost of rent. Remember, it is crucial to have this discussion before signing a lease otherwise, it will be too late.
A good tip to keep in mind is that landlords are even more eager to rent at non-peak times such as between October and February. During this time, you may be able to find more rentals and better choices in what you are looking to rent.
You may also be able to convince the landlord into pro-rating your rent since many people do not physically move in within the first month. The landlord may allow you to pay just for the weeks you are there in the first month, even though many are happier with the first full month being paid in full.
Be patient when it comes to renting your next home. Be aware of your budget and make sure it’s a good fit for you.