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Some houses and apartments for rent are never publicly advertised. Instead, they are rented through private networks, which are accessible by word of mouth. To increase the pool of available apartments, you should tap into this network.
Neighbors as a Source of Rental Information
Neighbors are usually among the first to know that someone needs to rent their home. Through them, you can find out about who may be relocating or temporarily living elsewhere. Your goal should be to tap into people’s knowledge about their neighbors and neighborhood. With respect to houses, this is often the best way to learn about homes for rent.
Finding Cheap Apartments
Life circumstances cause people to make unexpected decisions about living arrangements. Friends, family and co-workers are the ones most likely to know about these situations. When people are in a bind, and need to rent their apartment, you’re more likely to get a bargain on the rent. Usually, the less time they have to rent their home before moving, the lower they’ll be willing to go on the rent.
Word of Mouth Searches
To start a word-of-mouth apartment search, make a list of all of the people you come into contact with on a regular basis. Note which of them lives in an apartment versus a house. Depending on the type of home you want to rent, arrange the names by location, prioritizing where you’d like to live yourself.
Plan to ask people who live in more desirable places first. In addition to making them aware of your apartment search, ask them to speak to others who might know of a vacancy. The idea is to get the word out to as many people as possible that you’re looking for a new place to live.
What to Say
Be clear about the location and your rental price ceiling. Don’t make people spend their time inquiring about apartments or houses that you can’t afford. Mention any amenities of importance to you. If the home is only available as a short-term rental, tell them that you’re looking for longer term, if you don’t want to move again in a short time.
The Benefits of Personal References
Aside from finding unadvertised rentals, using word-of-mouth searches can help you to overcome a negative rental history, or inadequate income problems. Landlords who don’t know you are more likely to adhere strictly to rental history information and income requirements. They don’t want to take a chance that you’ll be a problem tenant or won’t pay your rent on time.
Having a friend, relative or co-worker recommend you to a landlord will work in your favor. People who know you personally may paint a different picture of you than what your rental history shows. If you’re responsible with money, or have savings to cover your rent, someone who knows you can vouch for these things, allaying a landlord’s concerns.
Tapping into personal networks, through word of mouth, offers hidden rental opportunities, and helps to overcome negatives that may otherwise work against you.
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Lisa Bernstein: As a long-time apartment dweller and seasoned condominium trustee, I have dealt with numerous landlord-tenant, property management, and day-to-day apartment complex issues. My extensive, direct experience has led to invaluable insights into apartment life from both the tenant and management perspectives.
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