If you're looking for a new place to rent, and you're not having luck searching the classifieds, it's time to work with a property management company. Working with a property management company is an excellent way to save time and money on your rental search. First, you won't have to spend your time searching the classifieds. Second, you won't have to pay for multiple credit checks. Here are four tips that will help you avoid delays when looking for a new place to rent.
1. Explain Your Blemishes
If you have a few blemishes on your credit report, you may be afraid to work with a property management company. Don't let your credit blemishes keep you from working with a rental company. Instead, make a list of your credit issues, and provide a detailed explanation for each one.
Property management companies will be more willing to work with you if you're honest about the problems you've experienced. Depending on the severity of the credit issues, they may require you to provide a larger security deposit or have a co-signer on your lease.
2. Don't Wait Until the Last Minute
If you're looking for a rental home or apartment, don't wait until the last minute. Property management companies accept numerous applicants for the properties they manage. In most cases, the process is completed on a first come, first serve basis.
If you wait too long to begin your search, you may find yourself locked out of the process. Instead, begin your search as soon as you know you're going to be moving. That way, you have ample time to find the property that's right for you.
3. Be Prepared With Documentation
If you're going to be working with a property management company, be prepared with all the documentation you need. The last thing you want is to lose out on a prime rental property because you didn't have all the paperwork ready.
As soon as you're ready to begin your search, put together a file of all the documents you'll need. Your file should include pay stubs, proof of employment, letters of recommendation, as well as a letter of recommendation from your current landlord.
4. Consider Alternate Property Options
If you want to rent through a property management company, it's a good idea to consider alternate property options. Most property management companies provide a list of available properties for you to look at.
To improve your chances of finding a place to rent, make a list that includes your favorite property followed by one or two additional options. That way, if you aren't selected for one, you'll still have two options to work with.