TIPS FOR RENTING A HOME

06 Dec TIPS FOR RENTING A HOME

If you are considering renting a home for you and your family, There are several things that you can do to prepare yourself to make the process easier.

1. Prepare a list of your wants and needs in a home. Have this list prepared as much as possible before you meet with your agent. A good Real Estate agent will help you sort out what is realistic for the current market and your personal qualifications. This will save you and your agent time by filtering out properties that will not work for your requirements before you view listings in person.
2. Know your budget. It is very wise to sit down before you consider moving and go over your finances in full detail. I suggest printing out 3 months of bank statements and analyzing where your money is going and how much. See what expenses are necessary for you to maintain the quality of life you desire. Any excessive spending on non essential items should be cut, this could increase the amount of money you can put towards a home each month and sometimes bump you up into the next level of homes. ( Example: Non ocean view $2000 per month to $2200 Ocean view home )
3. Avoid taking on any major debt at least 6 months out when considering a move. Purchasing a vehicle, electronics and other expensive items WILL show up on your credit report. This can raise major concern to a property owner, making them think that you might not be able to afford paying them on time if you have other large debt. It is important to try and keep your credit score well above 700, pay your bills on time or as soon as possible. Letting bills go delinquent and into collection will severely damage your credit. I have personally seen many occasions where strong candidates for a lease are beat out by someone with less debt or a higher credit score, no matter how much income you may make! Landlords are extremely picky with who they rent to, treat your lease application like you are applying for your dream job.
4. Measure your current furniture! It is very important that you know the size of your major furniture before moving into a new lease. Bring a list of the dimensions with you when you go see a listing. Make sure to measure the walls in which you plan to place furniture with a measuring tape. I have had clients in the past who chose to ignore this tip and they ended up wasting time and money moving furniture that was to large to fit into their new home. If you are downsizing and know that your extra large couch will most likely not fit into a smaller house, give yourself a week in advance before moving to sell of the furniture. This tip will save you time, money and frustration and hopefully put a few extra dollars in your pocket to purchase new furniture or upgrade your new home.
5. Prepare a letter to your next landlord. As if you were applying for an important new job, write a detailed cover letter about yourself and your family. Include any personal information that you would like to disclose, this well allow the landlord to get to know you on a personal level which may give you the upper hand in beating out another applicant. Be sure to highlight your qualifications, job history and value as a new tenant. If you have anything in your application that might cause alarm to the considering landlord, this is your chance to explain and remove concern. If you have pets, be sure to put the truth in writing. If they are quiet and house trained let the landlord know. If you do not take the time to explain things in detail, the chances are that the considering landlord will assume the worst, this could end up costing you the lease! Make sure you know what to say and what to leave out. Do not overwhelm the landlord with unnecessary details, say enough to highlight yourself and leave the best impression.
6. Make sure you sign necessary documents in a timely manner. If you really want to secure a listing, go out of your way to get the information and signatures to your realtor as soon as possible. Landlords are impatient and time is money to them. If you are competing with another applicant, only minutes can make the difference of you securing the lease.