Rental properties are becoming harder to find, even for qualified renters with good credit and stable income. In a time with record breaking occupancy rates, it’s no wonder rental rates are skyrocketing — demand is just too high. But what does this mean for people that aren’t ready to purchase their own home and need a place to rent in Valparaiso, Indiana?
The majority of property managers are taking vacant rental properties off the market as soon as they get their first rental application.
“We reviewed some statistics from 5236 rental applications received during the first two months of last year. Of those applications, 56% of the units we rented after receiving just one application,” says Miller. “The remaining units received between 2 and 63 applicants per unit. The average overall was 3.54 applicants per unit to find and place a tenant.”
With competition this tough, you need to give yourself the best chances of getting approved so you can secure the rental house that meets your needs.
Here Are Some Great Tips To Stand Out…
Apply only for an apartment for which you meet the qualifications:
If you keep getting rejected, it may be because you don’t meet the minimum requirements. When you apply for properties for which you know you won’t quality, you waste your own time and the manager’s time. Take the time to make sure you pass their income requirements and other policies, such as allowable pets — even if you have a well-behaved pooch.
Turn in an application even if they don’t have anything available at the moment:
Submit your rental application to a property manager even if nothing is currently available. This will increase your chances of being first on our list once a property does open up. If one of our property managers already has a qualified renter on the waiting list, that means less work for them once a property becomes vacant! To truly stand out, consider submitting a full rental resume along with the standard application. Setting yourself apart as a prepared and professional renter can go a long way in the application process.
Don’t be turned off by an application fee:
Property managers do not make a profit on application fees. The money goes to the credit reporting agencies and screening companies used to access background reports on renters. Rental applicants should be glad that their potential manager is screening all renters which will help keep the property safer. If you understand the benefit of application fees and are open to paying them, you will be more likely to find a place that suits your needs faster.
Be ready to pay:
Once you pass the screening process be ready to pay all the upfront costs like security deposit, first and last month rent. If you tell your future property manager that you need a week to come up the move-in funds, he or she will likely move on to the next qualified applicant. Be prepared by researching the cost of renting an apartment (beyond just rent) to ensure you are ready for all costs associated with renting and moving into a MJF rental property.
Be a great renter now!
References are an important part of the screening process for your future property manager. If your current property manager has glowing remarks to make about you as a renter, it will be more likely that you will stand out as the first qualified applicant and you’ll score your dream apartment, town home, or rental property in Valparaiso, Indiana.
It’s hard to be picky in a tight rental market. That might mean giving up your dream of living right downtown where rents are known to be the highest. Or maybe you’ll have to compromise on shared walls, instead of a detached single family home. Make a list of absolute must-have features that fit your maximum budget and the be willing to compromise on the non-necessities.
Apartment Rentals Valparaiso, Indiana 46383 46385
The Valparaiso, Indiana apartment rental market is red hot. We hope you enjoyed this months blog post and that it has helped you with your current rental search. We aim to bring you entertaining and money saving articles. If you have any questions or would like to view one of our apartment rentals, townhome rentals, or a house for rent in Valparaiso, Indiana 46383 46385 please call us today to speak with one of our friendly MJF Rentals property managers at (219) 477-4555.
Content shared by Brentnie D. from the article “Get A Roof Over Your Head” via For Rent.