In today’s real estate landscape, tenants, like buyers, are finding it increasingly more difficult to find and secure the perfect home. Often times, tenants compete with multiple applications, especially in highly desirable areas like San Diego and Orange County. Even if that is not the case, the rental may not be a good fit because of price, pet restrictions, parking availability, laundry facilities, or a multitude of other reasons. Of course – there is no golden ticket, and even the most prepared and qualified applicants can fall short. However, there are ways to set yourself apart from the field, giving you a much better chance to lock down a nice place to live. Here are few tips to keep in mind:

Narrow the Search

At first, it is perfectly fine to not know exactly where you want to live. This is especially true if you are relocating from another state or county. Eventually, however, it is important to hone the search to a specific region, city, neighborhood or maybe even street. This will help focus your time, energy and resources, allowing you to efficiently pursue the places you love.

Scour the Internet

Tips for Tenants

Zillow, Trulia

For rentals, it is crucial you regularly search Craigslist, Zillow, Trulia, Hotpads, and other real estate related websites. The reason for this is because unlike properties for sale where almost all are listed by agents on the applicable Multiple Listing Service (MLS), many landlords do not use the services of a real estate professional, often unwisely, and instead attempt to market properties on their own through free sites.

Chat With a Real Estate Broker

It can be a huge help to discuss your situation with a real estate broker. Brokers can offer insight and local data on particular neighborhoods, schools, restaurants, entertainment, crime, and other valuable information. They also have the resources to show you new and different properties within your search parameters listed on the MLS, which are not always visible on public sites. An experienced broker works on your behalf with agents and landlords to negotiate favorable lease terms and represent your best interest. Befriending a broker to help with rentals costs you nothing. The landlord, not you – pays a commission, if any.

Get in the Trenches

It is definitely a worthwhile decision for tenants to walk or drive around their desired areas. First, you might see signs for rentals not posted online, giving you more options and less competition. And second, it is beneficial to see and feel the neighborhood/streets before you decide to move in long term. Nothing you see online or hear from others compares to personally experiencing the location.

Tips for Tenants

CETrain.ISU

Be Prepared

Being prepared is the most important thing tenants can do to increase their chances of securing a rental. You should bring a complete hard copy rental package to each showing ready to hand over to the landlord or have an electronic rental package ready to fire off at a moment’s notice. Landlords and property management companies do not want to wait around for applicants to provide all necessary documents. Immediately filling vacant units is a top priority. Moving quickly in an organized fashion is critical.

The rental package, at the very least – should consist of a completed standard rental application, a reputable credit report/score, and income verification by way of pay stubs, W2, deposit history or tax returns. The more information the merrier when it comes to putting you in the most favorable light. In addition, a tailored letter or other personal touch may be smart here. Redacted bank statements reflecting a good amount of available funds strengthens the application as well. If for some reason the landlord wants more information, those details can be worked out at a later time, but providing the minimum above should get you to the next step quickly before other applicants.

Follow Up

It is good practice for tenants to follow up with the appropriate contact person for the rental. Phone calls are safe, text may be proper depending on the relationship, and emails never hurt. Make sure he or she knows you are still keenly interested, and willing to provide further information or documents as needed to make the process easier and more reassuring for the landlord.

Michael J. Libutti is a Broker and Attorney at Class Realty Group’s San Diego office. Reach him by email at mlibutti@classrealtygroup.com or by phone at 858-220-4295.

By |2017-05-09T19:05:56+00:00March 7th, 2017|Residential, Southern California Real Estate Report|1 Comment

About the Author:

Kevin is the Digital Marketing Coordinator at Class Realty Group.