How to Increase Your Chance to Get a Great Rental Property

June 29, 2015

 

When the rental market is hot!

 

Here in Southern California, the rental market is hot hot hot!

 

I have so many of you calling, often for a property that we’ve already rented. As a property management company, I thought it would be helpful to blog about how to make a great impression and snag that rental!

Remember, the first impression you give is over the phone. Make sure your message is clear and polite. Sometimes, we are so busy that it is good idea to be persistent and flexible with the days and times you can view a property.

 

Drive by the property first and make sure it’s in a location where you want to live. There is no use going to view a property and then realizing that it is not in the area or neighborhood you desire. Save everyone’s time, and do your homework.

 

Look at your credit report before applying for a rental. I’ve had many potential renters apply for a property without knowing what was on their credit reports. Frequently these individuals find inaccuracies on their reports.  It takes time to fix inaccurate credit information and you want this corrected before you apply for a new place. At Preferred Property Management and Real Estate, your credit score is not the only thing that we look at. People who are just starting out and have limited or no credit history may still be a good risk if other factors are in place, such as a good job and good rental history.  Some owners may be willing take a chance on a low credit score, but be prepared to give a double security deposit or have a credit worthy co-signer.

Rental history is of great importance to us. When we receive your rent, we in turn pay our owners, who in many instances have mortgages to pay. It is imperative that your rental history be verifiable. If you have rented in an apartment complex rental verification can sometimes be difficult to get from the Management Company or ownership. A good idea is to go into the office and ask them for a tenant statement, showing your rental payment history throughout the time you’ve been renting. You will save a lot of time and may get your answer sooner. A letter of recommendation with a phone number for a reference is also a valuable item for you to keep on hand.

 

Come to the property showing prepared. The typical items you will need to apply for a property are an application, an application fee for each adult, and income verification. Many property management companies will give you an application to bring when you view the property so that you are ready to apply. Make sure you ask them about the application fee and in what form of payment they accept.  For example, we do not accept cash and prefer a money order or a cashier’s check. Most property management companies will not run the application and credit until they have your application fee.

 

Our company does not have a “first come, first served” philosophy, however being organized and prepared shows that you are serious and ready. For those who take forever getting us the information we need to proceed, the process is delayed and they often lose the property to someone else who was better prepared.

Be ready to put down a holding deposit. When you have been accepted, you will most likely be asked to sign the lease or a promise to sign, and give a nonrefundable holding deposit that will go towards your security deposit.

Now that you have these helpful tips, you can go forward with more confidence in finding (and getting) that great place to live.

- See more at: http://gowithpreferred.com/heighten-your-chance-to-get-a-great-rental-property/#sthash.iRnssx2x.dpuf

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