Month: April 2014

How to Score High Marks with a Prospective Landlord

LandlordThe major economic downturn of five – six years ago, the bursting of the property bubble, and the unfavourable changes in the property market altogether, have pushed many people toward renting property as opposed to buying their own.

The above has had repercussions for both tenants and landlords. To put things in perspective – if the rental property market is livening up, that means there are more people looking to rent. In result, more people are willing to rent their property out to tenants, effectively becoming landlords.

When there is high demand for rental property (although there is enough real estate to go around) landlords tend get picky and demanding with their tenant selection and rental requirements. This is only normal as in one such situation, landlords have the upper hand – basic economics – demand and supply.

If you are a tenant looking to score the best deal on a rental property, make things easier on yourself and have a bulletproof approach toward the whole situation. Obviously, you are aware that landlords are fussy and would be looking to squeeze as much as possible out of the deal. In some cases landlords can fuss about admin issues like references from prior tenancy (which is heavily affected by the quality of your end of tenancy cleaning) or other such things.

In situations like these, tenants’ best bet would be to do their homework properly. First of all, get all the required paperwork in order. Organise your references for prior tenancy before initial meeting with the landlord, so when they ask you to present references you have those ready and on standby.

Organise all the documentation relating to your income and credit history. Some landlords, especially those renting out high end properties, will require you to show proof of income, clean credit history papers etc. Again – have those ready prior to the initial meeting – this shows responsibility and good understanding on your behalf. You may also be required to present bank statements, as well as character and employment references – some of the paperwork might take time to get to you, so start your preparations well in advance of lodging the rental application or conducting the interview.

The rental property market is fierce at the moment as there is high demand – this prompts many people to use a rental agency in order to facilitate and conclude the deal. Rental agencies use external referencing services to run tenant checks. Most of the time, these are unbiased reference agents who will reject your application without thinking about it twice. In order to avoid one such scenario, have everything in order in terms of documents etc. Doing this will definitely score high marks with the reference people, who in turn will recommend your application to the landlord.

Bear in mind that going after rental properties in posh parts of town will mean jumping through more hoops. Getting your desired rental in high end areas is harder, and your application will be under more scrutiny (not to mention you’ll pay a bit more for end of tenancy cleaning when moving out). In such cases, it is best to use the services of a cleaner like Cleaners Enfield as they can be of assistance in those sticky situations.