A competitive real estate market will require you to do more than putting down the down payment and filing an application for a mortgage. There has been an increase in the number of renters and baby boomers and millennials are competing in a large section of the market. if you are looking for a rental, it is important than you consider how to boost your likeness to get approved during the application process.
Here is what you can do to increase the odds
The best and quickest way to find rental properties is through browsing online listings. If you have been looking online for rental homes in a specific area, and you feel like you have found the perfect home, you should make a move immediately. If the listings offer an online application you should make it; you have nothing to lose if you do. This is a sign that you are a serious renter and the property manager will consider you.
Always be prepared when you are visiting the potential rental property. when you are meeting with the property manager or viewing the property for the first time, always bring your credit card report, previous pay stubs, check book and a reference list. This makes the application review simpler for the landlord. You can opt to write an application letter to the landlord on why you are the best tenant to choose for that property. It is not necessary but will work in your favour to help get the rental apartment. Always be prepared for an interview with the manager; the questions will come from both you and the property manager.
Show some interest when you are reviewing the home with the property manager. They always want to see that the renter is excited about moving into their new home. Landlords value good references but they are also looking for a renter with an impression of appreciation of the home. Showing interest is a sign that you will treat the place like your own.
Property managers will have a tough choice when it comes to selecting the perfect tenant for the home. Basically they have to choose from hundreds of applications. You can show extra interest in the home by showing some flexibility and standing out from the crowd. If you are planning on living in the area for a long time, you can sign a longer lease; it is a sign of commitment and it makes the property manager’s job easier. When the lease is longer they will not have to search for new tenants for the area for a while.
Property managers absolutely check the references on your application. If you have stretched the truth here and there, there is a high chance they will find out. If something or someone on the application contradicts your statement, you will lose the opportunity. Money problems have a high chance of ruining your application. Always send some follow up emails after checking up the house or apartment. Ask questions to make sure you are getting exactly what you are paying for.