How to Rent an Apartment or House
By eHow Personal Finance Editor
The rental markets in many cities are cyclical: a few boom years with renters scrambling for any available studio followed by a glut in availability. In either scenario, the most desirable rental units are snapped up the quickest. Do your homework, then hit the pavement.
Step1 Be prepared: Create a renter's re'sume' with your current and previous five addresses and landlord phone numbers, your employer and length of employment, your current salary and other income, personal references, among other information. Include a copy of your credit report (see How to Shop for a Mortgage, Step 5). You want to look as good on paper as possible to stand out from other applicants. Step2Look in the newspaper classifieds, apartment hunter publications, college campus bulletin boards, and online for available units to investigate. Ask friends about openings in their buildings. Step3Consider how much you can afford to pay. A good rule of thumb is no more than 30 percent of your take-home monthly income. Step4Enlist a rental agent to narrow your search. Depending on the market, this service may be free (paid for by landlords) or cost you a percentage of your rent when you land the apartment. Step5Turn to a roommate service if you're looking for cheaper space to share. Be clear what qualities you desire in a roommate, as well as types of people or habits you'd prefer to avoid, such as smokers.
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Monday, July 28, 2008
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