Tip # 5 - When filling out an Application...

Be complete

Fill out the entire application. Some applications ask for your current landlord and your previous landlord as references. If that is the case, don't simply list your current landlord and assume that is going to be good enough. It is very frustrating for the property manager to get an incomplete application and have to track you down for information that you should have provided the first time around. Besides, can you see how that may make the person processing the application think you may be trying to hide something from them? What other reason would there be for not including the information?

Unless you are moving out on your own for the very first time, you should know the type of information you will be required to provide when applying for a new apartment or home to rent. And if you have not established a rental history then plan ahead by compiling other personal and business references. If you are a responsible individual don't leave any doubt in the mind of your potentially new landlord. Having names and phone numbers readily accessible and completely filling in the application will not only speed up the process, but show that you are well organized. And property managers know that individuals who are well organized are more likely to pay their rent on time and treat the property with respect.

Don't lie

This is a far bigger problem than you may imagine. The information on a rental application is meant to be the start of a new relationship between you and your new landlord. And any sensible property manager is going to verify the information you provide to them. Nothing will hinder your chances of renting a particular property faster than providing false information. It would be nice if the information you provide could be taken on face value, but unfortunately there are people out there that intentionally attempt to deceive others.

Be open about your past

Rather than trying to hide or cover up past mistakes, bring them up from the very beginning. If you have had credit problems in the past for example, offer the information yourself. A good property manager is going to find out anyway. Divorce, job change, medical problems or any number of other things can cause people to go through rough times. What is important is that you work through them and find a landlord that is willing to give you a chance to re-build. And nothing will improve your chances greater than open communication.

Tip # 4 - You NEED Renter's Insurance.

Renter’s insurance helps take the pain out of a disaster

By Amber Lester

Living alone for the first time can be scary. You’re expected to kill the spiders. It’s up to you to take out the stinky trash. And scariest of all, if lightning strikes your apartment and you lose everything, your landlord doesn’t pay for your property.First-time renters often find out the hard way that when disaster strikes, a landlord’s insurance only covers the building — not your possessions. When Harrisonburg Fire Marshal Arthur Miller speaks to renters who lose everything in a fire, he often hears the same thing: “I don’t have renter’s insurance.”

Read the full article HERE.

I don't recall who emailed me the above article or I would link to it's original publication. If you happen to know, please leave your comments here. But I liked it enough to save and I decided to post this as a "Tip" because I know that some people are unaware of how important it is to carry renter's insurance. We all need to be proactive when it comes to protecting ourselves and our belongings.

For more on Renter's Insurance read "The scoop on Renter's Insurance".

Tip # 3 - It's OK to Negotiate!

What do you think are the two biggest concerns for a Landlord, Manager or Property Owner? These are the two things that are first and foremost on any Landlord's mind when they are considering you as a potential Tenant.

If your first thought is "What do I care, I got my own problems!" then let me remind you that this is Tip 4 Tenants... I have a Tip to share that benefits YOU.

It is probably pretty obvious that one of the biggest concerns a Landlord has when renting a property, is determining if you can afford the rent and have the ability to pay on time.

The second one is whether or not you will take good care of the property. Of course I realize that you may be thinking that all Landlords don't even take good care of their properties, and this is true. But that is not what I'm talking to you about this time, I'll talk about that another time.

So, you have two major concerns on the other side of the table, receiving the full rent on time and having tenant that does not damage the property. How can you benefit from knowing this? This Tip says "it's OK to negotiate", that doesn't mean that there is a loser and a winner. This is about both sides winning! Let me give you a possible way to benefit as a Tenant, simply by doing what you are supposed to be doing in the first place. Pay on time and take care of the place.

No honest Tenant ever plans on missing their rent payments or damaging a rental unit. But there is a reason these are big concerns for the Landlord, it happens. So, here is my negotiating tip;

Offer to give, before you receive!

If it is a discounted rent you are looking for, instead of saying "If you could lower the rent by $X per month, then I'll take care of the little maintenance issues that come up so you don't have to and I'll never pay late", try turning the same situation around by asking something like this; " If I am not late on any rent payments for X months in a row and your inspection shows that I have taken care of minor repair and maintenance issues instead of calling you to do it, would you then give me $X off of my future rent as long as I continue to pay on time and take care of the minor maintenance that comes up?"

Try this the next time you are applying to rent a property, and see for yourself that many Landlords are willing to agree to concessions simply because they aren't very optimistic that it will actually happen. They don't know it yet, but you are different... you are a HomeOwner in Training!

P.S. Always get agreements IN WRITING.

Happy Holidays!

May we all reflect on the good things in your lives and be thankful for what we have. And during this Holiday Season, let's all take an extra opportunity to to tell the loved ones in our life just how much they mean to us.