How to Find the Best and Cheapest Apartment for Rent
70I have lived in five different apartments and every time I search for a new apartment, I learn that apartment hunting can be difficult. Then, when you finally find the perfect apartment, negotiating the rent can be even more difficult. However, after a few years of apartment hunting and rent negotiations, I have learned some things that not only help you land the perfect apartment but also help you save on rent.
Realtors vs. Websites
I have dealt with realty companies as well as websites such as Craigslist. Sometimes on websites you can find better deals because you do not have to pay a realtor's fee. I have found great apartments with both methods, so I would recommend giving both a try.
Dress to Impress
If you are searching for apartments with realtors, make sure you are dressed well when you first meet. You don't have to wear a tuxedo or cocktail dress, but I would suggest something that is casual and sophisticated. Although it may not seem fair, the better dressed you are, the nicer apartments you will see and the better you will be treated. Realtors want to rent to responsible people who aren't going to upset the landlords. If you look disheveled, realtors will assume that you won't keep the apartment clean. Nobody should judge a book by its cover, but in my experience, most realtors do.
Walk-ins Welcome
I have always been a fan of walking into a realty office without notice. Some realtors would rather you set up an appointment, but if you walk in and make a good impression, realtors see the chance to make a sale that day. Sometimes, you even get to see apartments that the realtor just got in but hasn't listed yet.
Your Realtor
If you are assigned to a realtor that you just don't feel good about, then don't rent from him or her. Especially if your realtor is showing you apartments that almost no one would want to live in or that are way out of your price range.
Ask a Ton of Questions
Amenities: Ask if the apartment has what you are looking for such as a laundry room or trash chute. If you are looking at an apartment on the 6th floor in a building that doesn't have an elevator or laundry room, you need to know that information ahead of time if it doesn't fit your lifestyle.
FutureBuilding Plans: Ask if there are any set plans for the building in the future. If the owner is going to try to sell all the apartments as condos in a year, you should factor that into your decision.
Building Environment: Ask about the building environment. If you like to have friends over for the big game every now and then, but the landlord wants it to be very quiet, you may run into trouble.
Landlord: Ask if the landlord lives on the premises. If not, be sure to ask how well the landlord is at getting back to you on important issues such as a broken window, burst pipe, etc.
Neighborhood: If you are unfamiliar with the neighborhood where you intend to rent, spend the day there and check it out. Ask people who are walking around how they like the neighborhood. Be sure to see where the nearest grocery store, park, or drug store is if you frequent those locations.
Rent
There are important questions to ask about your rent as well as several ways to negotiate your rent:
What's Included: It's important to know what is included in your rent. For example, some rent covers heat and hot water, but some rents do not.
References: If you've left a previous apartment on good terms with your landlord, use him or her as a reference. Ask your realtor if they can lower your rent based on the fact that you are a good tenant. If a new landlord hears that you are a clean and responsible tenant, they may knock $100 a month off of the rent.
Realtor's Fee: You may have to pay a realtor's fee or finder's fee which usually totals one month's rent. This fee is sometimes the most lax; and therefore, can be your biggest bargaining chip. For example, if you sell yourself to the landlord, he or she may be willing to pay the entire realtor's fee or a portion of the realtor's fee to ensure a good tenant moves into the apartment.
Price Increases: Ask whether or not the landlord intends to raise the price of rent each year. If he or she does intend to raise the price, ask how much the rent will be raised each year.
Most importantly, go with your gut when apartment hunting. If the apartment just doesn't feel right, there is probably another one waiting around the corner. Happy hunting!
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kia31 says:
17 months ago
Really good info, I am planning on moving in 3 months, I will use some of these tips.