The rental market moves fast, and as you know there is limited availability. You have given your notice to your landlord and need to know a few things you can do to prepare yourself when making the move.
1) Decide Your Deposit Amount
Landlords typically ask for first and last month’s rent as the deposit. In hot markets a larger deposit may help you stand out from the other applicants.
2) Know Your Maximum Budget
Always apply to rentals just under your budget. In negotiations this will be a great bargining tool when trying to out-bid the competition.
3) Be Prepared To Make an Offer
Leases are the market to sell now, don’t get caught waiting for paperwork.
Things to prepare:
- Credit report from Equifax
- Letter of employment from HR
- Your two (2) most recent pay stubs
- Business registration info or notice of assessment, if applicable
4) Let Your References Know They Will Get a Call
The best references can come from your two (2) most recent places of residence and your job. Let them know beforehand that they will receive a call soon asking about you and who to expect a call from.
5) Inspect the Property Before you Rent
Pictures are worth a thousand words – so is a trip though a showing. Make sure that if you don’t love the property, avoiding applying.
Keeping these simple, yet powerful, tips in mind helps you become an informed and distinguished buyer.