The Truth about Tenants looking for apartments today
By JIM TURANO/BROKER-DIVERSE REAL ESTATE
38 YEARS OF EXPERIENCE
Here is the cold sobering truth for all tenants looking for apartments today. No other Real Estate Broker would dare to expose the truth regarding finding an apartment. But do to those tenants who make demands, turn around to hire an attorney to litigate getting their money back or for other reasons, here is the realistic truth for tenants nowadays looking for an apartment.
1) Tenants lie on applications, say the apartment is for 3 people then 2 more move in. Therefore most Landlords today have applications to be filled out and want credit scores. And they also stipulate number to occupy on the lease now.
2) Landlords use this rule to see if you qualify for the rent by taking your monthly income and times it by 40%. Example rent is $1800 dollars. You make $2000 per month x 40% means you can afford $800 dollars rent.
3) Couple vs a single mom with two children. 99% of the time, the landlord will choose the couple period. It is there choice, not the Realtors choice who is governed by rules and regulations.
4) Landlords who have experienced bad tenant relations in the past, tenants who hire attorneys to go after the Landlord, tenants who call or have their attorney’s threaten to call the buildings department leave a bad taste with most Landlords. Therefore they will in the long run make it 100 x’s more difficult for tenants looking for an apartment. Can’t blame them. This goes on every day.
5) Tenants who walk in on an apartment, lets say 6 rooms and 3 bedrooms, but demand wood floors, want a new bathroom or newer kitchen, are really in no position to do so. Plus tenants want the rents lower besides. The landlord will just rent to someone else period.
6) Last but not least, 99.9% of tenants looking for an apartment are never prepared financially if they find what they are looking for. They say they want the place, so then the Landlord says okay I will take the deposit today and we can complete everything tomorrow. But they do not have money with them. That doesn’t look good to a Landlord. And with so many tenants looking for the same type of apartment, you must be prepared. But tenants think the apartment will be around for a long period of time.
Conclusion- Tenants who have attitudes should leave them home before shopping for an apartment. Next bring your check book with you when looking for a place to live. Lastly, have your information with you when you shop for an apartment. Your w2’s, credit scores, letters of reference, etc.. And if you have a dog or two, mention it before you go to see an apartment so you do not waste your time. However, if you see an ad that states small pets welcomed, then be sure to be financially prepared. Understand Landlords can select whom they want, and you as a tenant must understand that there are many others looking for an apartment at the same time you are. When you do read an ad for an apartment and it says No Pets, then do not call. If the ad says call agent’s cell number, then please do so instead of e-mailing.