Practical Steps to Take When Looking for Affordable HousingFurnished ApartmentsUpdated on Jan 8, 2015 View more like this | Visit SMYRNA, GA | Contact Enrica Clavito |
It is a fact of life that finding an apartment rental is a stressful experience. Few people relish the opportunity to spend time in the search, negotiating, and moving. Most people by nature are nesters and want to find a home where they can put down roots and a base from where they can manage all aspects of their lives from. Not only do they need to search high and low for a living environment that will support their personal lifestyle but in light of today’s rocky economy they also need to find one that fits firmly within a pretty defined budget. For many this may seem to be an insurmountable task in many ways. However, there are ways to find the perfect housing situation without breaking the bank if you have a plan in place. According to lifehacker.com,
“Gone are the days when the only place to find apartment listings was the back of a newspaper. Now you can conduct apartment searches of all sorts online, and its almost always packed with additional photos, video, and information.”
With the advent of modern technology, we can now learn how to be much more creative in our search for affordable housing.
Learn to Negotiate
Unlike in other countries where negotiating is a way of life, few Americans realize that negotiation is still a possibility in our culture. This can be a very effective means of getting a rental price lowered for an apartment you love. It works even better when you have good credit and a good reputation to fall back on. While renting an apartment is full of uncertainties for the tenant it can be equally unnerving for the landlord as well. When a landlord knows that he is lowering his risk of losses by renting to those with an excellent reputation, they are more likely to come down on the rent for a sure deal. Come prepared with your references and any information that could work in your favor when you’re ready to start wheeling and dealing.
Check for Private Homes
Another way to find affordable housing is to check for private rental listings rather than those that are owned by major corporations. Large housing facilities tend to be less flexible when it comes to negotiating than a private owner. By choosing a unit that has a private owner you’re opening up more opportunities to get a better deal than to be locked into an agreement with a large apartment complex. Private owners also tend to be more flexible when it comes to allowing more freedom in your new apartment. Painting, decorating, and minor adjustments to the unit are often possible without hassles.
Use a Realtor
You can also use a realtor to help you find some of the great deals on the market. Many people assume that the popular rental sites or magazines provide a complete listing of all the places for rent in a certain neighborhood but that is not always the case. More often than not, realtors will have a secret stash of rental properties that may never be seen by the General public unless you personally ask about them. Homeowners who were unsuccessful in selling their property or fixer-uppers that may never see the light of day can turn out to be real gems when it comes to finding affordable housing. There is a wealth of good leads on affordable apartments hidden away in many a realtors office that offer amazing deals just waiting to be found. Consider the comments of Michelle Lerner about the benefits of using a realtor,
“I generally think everyone can benefit from working with a Realtor, simply because a Realtor has market knowledge the average person lacks…In addition, an experienced Realtor can read the lease and make sure your rights as a renter are protected.
Look for housing that has been vacant for a long time
Rental housing is a business and for it to be a successful business it must bring in a steady stream of revenue. When a unit has been vacant for too long a period of time it is not just an empty unit, it also represents an empty space in the owner’s wallet. With each passing month there is a loss of valuable resources that can represent a financial downturn in the business. Landlords are often willing to make a good deal on property that has been vacant for 3 months or more in order to keep the money rolling in. Drive through your preferred neighborhood and take note of places that have been empty for a lengthy period of time and then prepare to make a deal for the place. You’ll be surprised at what you might find. Most apartment managers will be more than willing to take a lower rent for the facility rather than keep it empty and make nothing.
Fixer-uppers
You might also find good deals with foreclosed properties and fixer-uppers as well. Again, these are more often than not bank owned and are not generating funds for their investment. Banks would much rather have the cash flow that comes from a rental property than to hold onto the property itself. If you’re willing to roll up your sleeves and put in a little elbow grease and do some of the work yourself, you may even be able to get a few months of free rent in the process. By creating a reasonable offer on the property you’ll be able to land you a great deal without ever having to break the bank.
While finding an affordable place to rent can present a challenge in today’s turbulent economic times, it is definitely not impossible. You just have to learn how to be creative in your search and be willing to take a few non-traditional methods in your approach to apartment hunting. However, once you do, you’ll feel like a true treasure hunter when you find the perfect apartment to support your lifestyle at a price that fits well within your budget. As Jacqueline Curtis of Money Crashers says,
“Finding the right place at the right price is no easy task, but it doesn’t have to be too overwhelming. After you figure out what you can afford, it’s simply a matter of finding the right apartment, agreeing to lease terms, and then signing on the dotted line.”
So, while trying to find a decent place that will fit in your budget may be stressful, there are certainly some very practical steps that can take much of the anxiety out of your search and give you some very promising results.
“Gone are the days when the only place to find apartment listings was the back of a newspaper. Now you can conduct apartment searches of all sorts online, and its almost always packed with additional photos, video, and information.”
With the advent of modern technology, we can now learn how to be much more creative in our search for affordable housing.
Learn to Negotiate
Unlike in other countries where negotiating is a way of life, few Americans realize that negotiation is still a possibility in our culture. This can be a very effective means of getting a rental price lowered for an apartment you love. It works even better when you have good credit and a good reputation to fall back on. While renting an apartment is full of uncertainties for the tenant it can be equally unnerving for the landlord as well. When a landlord knows that he is lowering his risk of losses by renting to those with an excellent reputation, they are more likely to come down on the rent for a sure deal. Come prepared with your references and any information that could work in your favor when you’re ready to start wheeling and dealing.
Check for Private Homes
Another way to find affordable housing is to check for private rental listings rather than those that are owned by major corporations. Large housing facilities tend to be less flexible when it comes to negotiating than a private owner. By choosing a unit that has a private owner you’re opening up more opportunities to get a better deal than to be locked into an agreement with a large apartment complex. Private owners also tend to be more flexible when it comes to allowing more freedom in your new apartment. Painting, decorating, and minor adjustments to the unit are often possible without hassles.
Use a Realtor
You can also use a realtor to help you find some of the great deals on the market. Many people assume that the popular rental sites or magazines provide a complete listing of all the places for rent in a certain neighborhood but that is not always the case. More often than not, realtors will have a secret stash of rental properties that may never be seen by the General public unless you personally ask about them. Homeowners who were unsuccessful in selling their property or fixer-uppers that may never see the light of day can turn out to be real gems when it comes to finding affordable housing. There is a wealth of good leads on affordable apartments hidden away in many a realtors office that offer amazing deals just waiting to be found. Consider the comments of Michelle Lerner about the benefits of using a realtor,
“I generally think everyone can benefit from working with a Realtor, simply because a Realtor has market knowledge the average person lacks…In addition, an experienced Realtor can read the lease and make sure your rights as a renter are protected.
Look for housing that has been vacant for a long time
Rental housing is a business and for it to be a successful business it must bring in a steady stream of revenue. When a unit has been vacant for too long a period of time it is not just an empty unit, it also represents an empty space in the owner’s wallet. With each passing month there is a loss of valuable resources that can represent a financial downturn in the business. Landlords are often willing to make a good deal on property that has been vacant for 3 months or more in order to keep the money rolling in. Drive through your preferred neighborhood and take note of places that have been empty for a lengthy period of time and then prepare to make a deal for the place. You’ll be surprised at what you might find. Most apartment managers will be more than willing to take a lower rent for the facility rather than keep it empty and make nothing.
Fixer-uppers
You might also find good deals with foreclosed properties and fixer-uppers as well. Again, these are more often than not bank owned and are not generating funds for their investment. Banks would much rather have the cash flow that comes from a rental property than to hold onto the property itself. If you’re willing to roll up your sleeves and put in a little elbow grease and do some of the work yourself, you may even be able to get a few months of free rent in the process. By creating a reasonable offer on the property you’ll be able to land you a great deal without ever having to break the bank.
While finding an affordable place to rent can present a challenge in today’s turbulent economic times, it is definitely not impossible. You just have to learn how to be creative in your search and be willing to take a few non-traditional methods in your approach to apartment hunting. However, once you do, you’ll feel like a true treasure hunter when you find the perfect apartment to support your lifestyle at a price that fits well within your budget. As Jacqueline Curtis of Money Crashers says,
“Finding the right place at the right price is no easy task, but it doesn’t have to be too overwhelming. After you figure out what you can afford, it’s simply a matter of finding the right apartment, agreeing to lease terms, and then signing on the dotted line.”
So, while trying to find a decent place that will fit in your budget may be stressful, there are certainly some very practical steps that can take much of the anxiety out of your search and give you some very promising results.
