The title just about sums it up: The beginning of summer is rental season. But one thing it doesn't say is what is "Rental Season". This is the time of year where everybody is looking for a rental. Every year the number of people looking to rent during the first two months of summer will increase.
There are lots of reasons for this. People are tired of being cooped up all winter long and are looking for a change. School's out, so there won't be a disruption for the kids. Rent going up on your current lease. But most importantly, its a cycle. This is the same time that people rented last year, so all of those people are potentially looking for a new place to live.
What does this mean for you? There is lots of competition. If you're not on top with excellent credit, a good debt to income ratio and great references, you could find yourself being rejected on application after application. This does not mean you won't find anything. Each rental has a processing fee - even if you don't qualify. But don't worry about that. My team can help out and in some cases even eliminate those fees.
Make sure your credit is clean, on the way to being clean or explainable. Check out my other post on cleaning up your credit here. Quickly: If you have late payments on your credit cards, catch them up. If you have mortgage issues, call me and we'll fix them. Lastly if you have an upside down debt to income ratio, pay off some debts. If you're saying: "But Steve, its not that easy" then give me a call and I'll help you with a plan.
Just a quick note on mortgages. If you are going to fall behind on your mortgage and are thinking about walking away from your house, don't. There are options that are not as bad on your credit record as a foreclosure.
When you work with a Realtor, you have a lot of tools at your disposal. Put my team to work for you.
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