Silver Spring, MD Homes for Rent - Be Prepared

My Fairland Park Townhouse listing in 20904 Silver Spring, MD has been rented. There was a whirlwind of activity over the 3 weeks on the market, a ton of inquiries through my blog and my Postlet-flyer on Trulia, Zillow, Hotpads etc. plus a number of showings by fellow Realtors® which resulted in 3 applications.

2 things stood out:

1. The rental market is a very active one - no surprise here, just a confirmation. Good rentals (good as in maintained & priced correctly) will rent fast and many times receive multiple applications.


2. Many renters are either not prepared or are looking in the wrong price-range.

What does it take to have your application accepted? Follow the instructions, submit a well-prepared package including a properly filled out application and all supporting documentation, checks and funds as requested and have an acceptable debt-to-income ratio.

Submitting a partially filled in application will not go anywhere. Applying for a property that will cost you 50% or more of your monthly income is not an acceptable ratio and will likely result in a rejection. Not having any funds available for the 1st month rent as well as the security deposit will also not result in an executed lease. Hoping for the landlord to substantially discount the rent so that it will become affordable for you, is not likely to happen when phones are ringing off the hook.

The bottom line for tenants searching for a new home in Silver Spring, MD and beyond, make sure you are prepared and you are looking in the right price-range!