I invited Matthew Boyes-Watson and Raleigh Werner -- the co-founders of RentPrefs, to give their take on the way to start a smooth rental process.
How to help landlords help you
As discussed in last weekís post, if youíre planning on looking for an apartment with a September first lease, donít hesitate to start looking now. This post will cover how to differentiate yourself from the scores of other apartment-seekers in Boston. This can get you a leg up on signing the lease you want as quickly as possible and leave the competition in the dust. The key to locking up your new place is a simple combination of providing the right information at the right time.
Put your mouth where your money is
If you can pay the rent, have the papers to prove it when youíre looking at apartments. If you can show that youíre in good financial standing to a landlord upfront, you can greatly increase your chances of securing a lease to a place you love. As a reference, a solid credit score (650+) is an easy metric for landlords to digest and lends third-party credibility to renters. Landlords are fundamentally risk-averse (with good reason) and like to know theyíre working with reliable tenants. If your credit is below 650, then having a notarized guarantor form will assuage any solvency fears on the spot. Having your guarantor and a notary ready to complete the form right after you find a place you like will give you an edge over less prepared apartment-seekers.
Bigger is better
The longer the lease, the bigger the payday for landlords. If youíre sure you love a place and already know youíll be renting for more than a year, you should let the landlord know upfront. Theyíll give priority status to any renter who can commit to more than a one-year lease (especially if that renter has proven he or she can foot the bill). Landlords are always looking for ways to fill vacancies and reduce apartment turnover. Itís truly a win-win for renters and landlords if a renter can commit to a long-term lease.
Respect the territory Beyond the financial vetting of renters, landlords need to know that their property will be treated well. The security deposit is a tool to incentivize renters to keep their apartments intact, but as property owners, landlords donít want to think about having to use that money to fund repairs. Gather up some solid references from your current and/or former landlord and show them off. This gesture will add another layer of credibility to your case for tenancy and also takes some stress out of the equation for landlords, which will grease the wheels for you to get an apartment you really like. Once youíre in, do the basics Pay your rent. Donít break things. Keep the volume reasonable. Donít cause problems for your neighbors. Follow these steps and youíll bolster your rental history, while also making yourself more marketable with a landlord reference for the next time you rent.
Do you have anything to add to these basics?
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