It is helpful to know the ins-and-outs of working with a licensed apartment locator. It will ultimately lead you to having a better apartment renting experience. Like everything in life people have opinions, but it is up to you to distinguish between what is fact and what is fiction. It is helpful to look at some common misconceptions going around and compare them to what is really true. Here are 4 common misconceptions, and their truths, about working with a licensed apartment locator.
Misconception #1: Apartment locators will point you to the apartment communities that pay them the highest commissions.
Multi-family housing is such a large industry and many people are not educated about using an apartment locator. A reputable apartment locator, like any other real estate agent, will always work to get their potential renter the best deal no matter where the apartment is located or what commission is being paid.
Misconception #2: A legitimate apartment locator will ask you to pay a fee upfront.
Working as an apartment locator is hard work and they sometimes get a bad rap. A trustworthy apartment locator will NEVER ask you for any money up front. Apartment locators will work for the buyer/renter free of charge – ALWAYS!
Misconception #3: Apartment locators do not work with you if you have no credit history.
A good credit history is fundamentally important when renting an apartment, but is is not the only factor taken into consideration. They are experts in working with potential renters who have no credit history. It may be difficult, but here is an approach to the situation. For example you might be asked to pay a larger security deposit, or secure a cosigner on your lease. A licensed apartment locator will help guide you forward as a good rental candidate.
Misconception #4: If I use an apartment locator my rent will increase because of their service fee.
A licensed apartment locator will work for you free of charge! They receive payment when you sign your lease from the apartment community. Most apartment complexes have a dedicated budget that will pay the apartment locator. Utilize an apartment locator and you will almost always get a better promotion or deal because they have knowledge of all the current pricing and specials going on in the area – advertised and unadvertised.
If you have heard of any other misconceptions about working with an apartment locator we'd love to discuss them with you. Contact us and let us share our knowledge about working with a reputable apartment locator.