So, you’ve found the perfect Apartment. You’ve even verified that the Landlord exhibits all the qualities of being a great landlord. Now, the only thing left to worry about is competing against other interested renters. How will you ensure that the landlord chooses you over the other competition? Having good credit and a clean rental history are two easy ways to convince a landlord that you’re the best choice. But what if you have bad credit or an imperfect rental history? We’ll break down what you can do to make up for those points for pause and get yourself to the top of the list.
Competition in the rental market can be a tough obstacle to overcome. Follow these steps to help make a landlord choose you over the competition.
- Offer to sign a longer lease term
All landlords want tenants who pay their rent on time and have a reliable source of income, but not many tenants will surpass these basic expectations. If a landlord asks for a one-year lease, consider signing on for a year and a half or even two years. It’ll show the landlord you’re serious about the apartment and plan on staying there for a while if they choose you.
If you can afford to pay a few months of rent upfront, offer that as well. Landlords appreciate when they don’t have to worry about collecting your rent on time, and offering to prepay an extra month or two may put their minds at ease. The security of payment upfront, combined with the promise of you staying beyond a standard one-year lease, may make the landlord more inclined to offer you the apartment over others. - Make sure you pass all of your background checks
There are a few checkpoints your future landlord will want you to pass before they ask you to sign on the dotted line. These include your rental background check, a credit check, and an employment or proof of income verification check.
To ensure that you pass the rental background check, ask a previous landlord to vouch for you. This is especially helpful if you’ve ever dealt with an eviction process before. Ask a former landlord if they’d be willing to vouch for your behavior as a renter. This will help reassure your future landlord that you’ll be a good tenant, regardless of what your rental history might show.
If your credit is low, put your future landlord at ease and speak openly about your finances. Explain any high credit card balances, student loan debt, or big purchase payments you that may show up in your credit check. Remember, even if you have a low credit score, you still have other options before you need to resort to no credit check apartments.
In terms of employment verification, if you have a freelancing gig or work multiple jobs, see if one of your clients will vouch for you or give your future landlord all contact info for each job. You can also consider having a parent, guardian, or friend co-sign the lease if you don’t think you meet income requirements. - Get in the door first
Being the first to see an apartment as soon as it becomes available is a huge benefit over the others. You can even apply to Instarent properties and reserve an apartment so no one else can snag it before you do.
If applying to an apartment and a landlord sets an appointment time for a tour, make yourself available so you can be one of the first ones in the door. Try to arrive a few minutes early to show the landlord you’re treating the process professionally and seriously. - Have your documents ready
Treat your apartment hunt the same way you’d treat a job hunt. Arrive early, look presentable, and have any required forms filled out. Doing this will send a message to the landlord that you take this experience seriously and are prepared to sign a lease if given the opportunity. In addition, rental references can go a long way. If you can, ask an employer, former landlord, or another trusted reference to write a letter on your behalf using this sample rental reference template.
- Be mindful of your budget
We all want the apartment with amazing views, an upgraded kitchen, and a master bedroom with a walk-in closet, but that doesn’t mean we can afford it. Do your research and know what you can afford when factoring in the monthly rent, any pet fees, and utilities. That way, if the landlord asks what your budget is, you’ll have an answer for them. If you’re planning on splitting rent and living with a roommate, make sure your future landlord knows; two incomes are better than one.
- Be courteous and polite
First impressions matter. Being late to an apartment showing can be a turn off for a potential landlord. Always remember to be punctual and thank the landlord for taking time out of their day to show the unit. Landlords and property managers want to rent to responsible renters and coming prepared with questions, paperwork, and a positive attitude can make all the difference.
The bottom line
Finding the perfect apartment takes time, and it can be frustrating if your application isn’t the winner. Don’t give up hope. Be prepared and punctual to all apartment viewings, and be ready to sign a lease as soon as possible when you find the unit you’ve been searching for at the price that fits your budget.
When the landlord chooses you, don’t forget to ask the important questions. And, don’t sign on the dotted line before getting some answers. At the end of the day, there are plenty of great apartments out there. If a landlord isn’t answering your questions or seems to be dodging them, it’s okay to politely decline the apartment. Renting from a respectful, honest, and transparent landlord can make all the difference, so don’t settle until you’ve found the right fit.
Frequently asked questions when renting in a competitive market
This will vary largely depending on which city you are renting in. For example, New York City is an extremely competitive rental market. It’s common for an available unit to be rented within the same day it’s listed, with multiple applications on the table. Other less saturated markets will have a larger grace period for getting in the door. If you are in the market for a new apartment, keeping up to date on the latest trends in your area can help you establish a timeline for when you should begin your search.
Absolutely. Providing personal references for an apartment can speak to your value and responsibility as a renter. If there are multiple applicants, a great recommendation can put your application at the top of the list. If you have a previous employer or past landlord that can vouch for your character and responsibility, potential landlords will take notice.
Waiting is the hardest part. Typically you should hear back from a potential landlord or property manager within 24-72 hours after you submit your application. If it has been three days and you still haven’t heard back, a courteous follow-up email is encouraged.
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