We have been doing a lot of rentals lately since the demand for rentals is quite high in Philadelphia. Many sellers who could not sell their home last winter for the price they needed or wanted are now renting their home for a year or two in hopes that the value of their property will be higher.
I have noticed a few Renter Faux Pas that I'd like to share with you in hopes that it may make your experience looking for a rental property more rewarding and stress-free for you.
Don't be cheap
1) Trying to negotiate your rental price down on a "hot property" is a renter faux pas. In this competitive rental market, you will risk losing that perfect unit by trying to negotiate the rental price down on a great property especially if it just hit the market. Your slick bargaining technique will sabotage your chances of wrapping up that room with a view.
Don't come empty-handed
2) Not being prepared with your application package is a renter faux pas. If you love the apartment or house, someone else probably does too. So be the first application in. Be prepared in advance to move on that rental with a full rental package ready to go including:
a) photo id,
b) proof of income,
c) proof of savings for the deposits needed,
d) deposit check,
e) and if possible, have your credit pulled in advance (otherwise come prepared to pay for processing)
Wrap up that rental before anyone else does. The faster you move the more likely you will land that "hot property".
Don't wing it
3) Running several different agencies' realtors around to show you properties is a renter faux pas. Renters deserve a qualified realtor to represent and assist them in finding the right rental property and work out the logistics when it comes to renting a property. Your realtor will get to know your needs, they will qualify you as a renter and advise ways to overcome less than perfect credit, they will review the rental contract with you, and will have your back should you need advice during your tenancy.
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