Eleven Tips for Surviving a Tight Rental Market
1. Rent from an individual landlord. Individual owners will value a
reliable, long-term tenant and are less likely to raise rent quickly.
2. Look for a condo for rent. Some condo investors bought with the
intention to flip, but now cannot find a buyer. If they paying back a
mortgage, they may be motivated to rent it quickly to avoid losing more
3. Search in the middle of the month. Most renters lease at the
beginning of the month, which leaves relatively little interest for
vacancies that arise mid-month. Landlords may be willing to cut a deal
to avoid multiple weeks of vacancy.
4. Move away from the city center. New apartment developments built
outside city limits tend to offer the most aggressive discounts.
5. Split rent with a roommate. You’ll save on both rent and utilities.
6. Clean up your credit so you can have maximum choice of available
7. Read apartment ratings and reviews online. When apartments are
moving quickly, it’s even more important to check online reviews to
avoid regretting your choice. ApartmentRatings.com offers over 400,000
ratings and reviews of apartments nationwide.
8. Research the rent. ApartmentRatings.com offers reports of the rents
paid by other tenants that will help you research whether you're about
to pay too much.
9. Sign the longest lease you can afford. Landlords continue to discount
for long-term tenants.
10. Don't forget your rebate. New web sites are bidding up the move-in
rebate offered to renters, some as high as $200 if you rent an apartment
using their site.
11. Start apartment hunting early. Visit apartments before you’re ready
to sign a lease so you’ll have time to consider all your choices.
“While the rental market is tight, it’s not possible to find deals. But
it’s important for renters not to be pressured into signing a lease too
quickly. Especially now, renters should go online and check ratings and
reviews of apartments before they sign a lease. Many important factors
in apartment satisfaction may not be visible when renters visit a
property on a Saturday afternoon.
“How quickly and effectively does maintenance respond? How available
and friendly is the office staff? How thin are the walls? How is
parking on a Monday night? Renters need to know the answers, and can
use www.apartmentratings.com to find out what kind of experience former
residents have had at an apartment community.”
Links to recent related news stories
Tips for Surviving a Tight Rental Market
ApartmentRatings.com Site Usage Statistics:
* 1.5 million visitors per month
* Over 400,000 reviews of apartments nationwide
* Listings of over 54,000 apartments representing over 6 million rental
* Approximately 15,000 new reviews added per month
* Privately held
* Founded in 2000
* 2005 Inman Innovator Award
ApartmentRatings.com is the
nation’s largest online rating community for rental housing and the only
unbiased resource in the online apartment market. ApartmentRatings.com lets
renters share their experiences and give apartment hunters the information
necessary to make an informed renting decision. The site combines the
convenience of online apartment listings with the Internet’s capabilities
for peer recommendations. Apartment Ratings, Inc. was founded in 2000, has
been recognized with an Innovator Award by Inman News, and is located in
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