Search within the Budget
A property manager’s primary concern when sifting through applications is finding the ideal candidate who can pay the rent on time and in full. Renting is a business; to guarantee success, property managers must ensure applicants can afford the cost of living in their buildings or properties. As a tenant, don’t waste the property manager’s time. Search for rental properties within a realistic price range. Renters can even tailor their searches to include ideal size, desired neighborhoods and necessary amenities.
Prepare for Fees
Nothing impresses a property management company more than a tenant with cash flow. In a competitive rental market, applicants can offer landlords an on-the-spot deposit fee and application fee, which may help sway a decision in their favor. Credit check costs, pet deposits, broker fees, first and final month’s rent are all possible charges to incur before a tenant is even accepted. Not having enough money in the bank for these expenses is a red flag in the eyes of a potential property manager.
Research Credit History
Prepare to explain a mediocre or poor credit score to a landlord. It’s better to be upfront and honest about past renting mistakes than trying to hide negative history. Chances are, credit blemishes surface during the background check and can deter a property manager from proceeding. Most importantly, individuals should be aware of their credit histories before beginning the rental process. Knowing the state of one’s credit is the first step to remedy former errors and raise the score. Repair damage prior to applying for a lease to ensure that an adverse financial past doesn’t impede on the process.
A tenant can impress a property manager by treating the application process with respect. Treat property managers politely during all scheduled showings and meetings. Affordable rental homes are hard to come by, it is crucial that applicants are well-prepared for leasing a property upon viewing it. Oftentimes, multiple applicants will submit applications for the same property. The applicant who is best prepared by bringing fees, required documents, signed application and meets all requirements will always win. Be prepared to rent on the spot!
Do not try to hide a pet from a property manager. Even if a dog-owning tenant gets past the application process on a no-pets property, they put themselves at risk for getting caught later in the lease. If a property manager discovers an undocumented animal in the building, they can withhold the security deposit, charge for cleaning fees, apply pet fees and evict policy violators. Avoid these financial burdens and complications by taking responsibility for animals and paying all necessary dues to have them cohabitate. As long as the building allows animals, informing management of a dog or cat shouldn’t negatively impact the application process.
While some property managers are more stringent on applications than others, these five tips should assist in a standard rental request. By implementing these steps, lessees can find the best-fitting rentals and positively demonstrate their qualifications to the property manager.