Finding Better Rent Deals

In this day and age, rental prices are rising, and renters are facing more challenges when shopping for a place to live. With recent economic changes being what they are, many people are forced to rent instead of buy, and this is putting an unexpected demand on the rental market. Since rental space is limited, and the demand for such space is rising, prices, too, are increasing. Some renters are finding that whether or not they’re getting a good deal is not as easy to determine as it used to be, and most people are left feeling that they have overpaid. But even though the rental market is changing, there are still some things you can do to ensure you’re getting a good deal.

Understand Rental Websites

Know how to use rental websites to your advantage to search for a place to live. Finding the perfect rental means knowing how to search for a rental, and for most people, the search begins online. Know which sites will be most helpful to you based on upon what you’re seeking. Do you want a condo or an apartment? A duplex? What are the important amenities you’re seeking? Be persistent in your search, and monitor the websites you use on a regular basis for changing or new listings.

Word of Mouth

One of the most powerful ways to obtain a good deal is by letting everyone in your circle of family and friends know that you’re searching for a rental. Sometimes, this can earn you a deal before it ever hits the market thanks to a referral. Urban development experts, like Kevin Kerekes, know that word travels fast, and many real estate professionals will happily skip the hassle of marketing and listing a home or property on a thousand different websites if they can work with someone referred to them by a trusted friend. So feel free to talk about your plans; it just might land you a deal.

Look For Single-Family Homes

The keen rental seeker may be confused when they see single-family homes being rented for less than some apartments in comparable areas. This often happens because homeowners are having difficulty selling their home in this market, so they choose to rent it out instead. Lower rates can often be obtained by seeking these types of rentals, and are usually a great deal.

Search the Sales

If you’re not getting any luck finding what you want in the rental market, look for homes that are for sale. As mentioned in the previous point, many homeowners are having trouble selling their homes and, though the home may not be up for rent, may be willing to rent to you anyway so they can move out and still earn an income until they can sell. Look for listings that have been on the market for some time.

Seek Competitive Rates

Once you find something you like, check comparable properties to make sure you’re getting the best deal possible. If you’re in an area with a great deal of competition, you might not get the price you want, but you can often negotiate with the landlord for lower rent if you have the evidence to back it up.

If you have good credit, always mention that to the landlord, as well. This piece of information can help you land the rental of your dreams. Always make sure you do your research before signing on the dotted line, and look in unconventional places to find rentals. Often, the best deals are those that aren’t advertised.

Peter Miles writes about investment and real estate. He consults small to mid-sized firms on the topic as well as individual investors.

 

Category: Apartment Rental, Housing