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Tips for Finding an Apartment in a Hot Market

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Austin is an incredibly tight rental market, with occupancy rates at 94.8 percent.  To get an apartment in such a tight rental market, you need to have the inside track.  Check out Trulia's tips on finding an apartment in a hot market.

Landlords are most likely to rent to people who are in a strong financial position.  What this means for you is that you should go to an apartment hunt with proof that you aren't a financial risk.  Pay stubs, proof of renters' insurance, and your credit report all show potential landlords that renting to you is a no-brainer.  If you're renting your first apartment, don't have much savings or have a low income relative to rent, you may need to approach your parents or other relatives about co-signing your lease.  If you do have a poor credit score due to a lay-off or other financial disaster in the past, bring proof that your situation has recovered.

Listings go quickly, so be prepared to go see new ones as soon as they come up.  If your schedule is flexible enough to allow you to go during the day, that puts you at an advantage.  Start your search early, at least 90 days before your move-in date, and reach out to friends through social media and ask them to let you know if they hear of any apartments for rent.

Go into your search with realistic expectations:  you aren't going to get everything on your wish list.  In the most expensive markets, you may have to pay more than the recommended 30% of your annual income for rent, and look for other places to cut back.  Be flexible about what amenities you want, and be reasonable about what you really need.  You can live without a rooftop pool or a gym, but you need to live in a place where you feel safe and feel like your dwelling is properly maintained.

Overwhelmed by the lack of apartment listings in Austin?  Bad credit or a low income scaring you away from finding a new place to live?  A Plus Apartments' can help you find the perfect apartment, even if you have limitations or blemishes on your credit.  We know the up-to-the-minute vacancies and amenities so you don't have to waste time driving to apartment complexes without vacancies. Give us a call today at 512-231-1400 to take advantage of our free apartment locating services.

Posted in Austin, Problems Leasing, Rent Smart
 
 

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