Renting a Home

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Screening tenants, especially their financial situation, is the most critical part of operating a rental property. To make sure tenants can pay their rent on time each month, you should run an employment and credit check. Then, you might have to decide whether you’re open to renting to tenants with bad credit.

As a rental property owner, you expect tenants to pay their rent on time each month. Even if a tenant doesn’t have a stellar credit score, that doesn’t necessarily mean you shouldn’t rent to them, particularly if other aspects of their application are a good fit. Here are a few things to remember when renting to tenants with bad credit.

Do I have to rent to someone with bad credit?

It’s up to property owners to pick their tenants. So, you may want to require tenants have a minimum credit score. In many ways, a good credit score signals that an individual is creditworthy and financially responsible, which likely means they can afford to pay rent. However, you might not want to completely avoid renting to a tenant with bad credit.

People have bad credit for many reasons. It doesn’t always mean they haven’t paid their bills in the past or that they’re irresponsible with money. If the renter applicant otherwise looks perfectly suited for your home, you can require a higher deposit or a co-signer to compensate for the poor credit score.

Do most landlords do credit checks?

As part of the tenant screening process, it’s essential to run a credit check. The reports offer a glimpse into the individual’s financial history, including their bill-paying past and whether there are any financial judgments against them.

If someone has a good credit history, they’ll likely consistently pay their rent on time. If someone has a history of late or missed payments, this behavior may continue. In these cases, property owners should dig a little deeper before renting to tenants with bad credit.

What is the lowest credit score to rent a house?

Credit scores range from 300 to 850, according to the credit bureau Experian. Here’s what’s considered a good and bad credit score:

  • Exceptional: 800-850
  • Very good: 740-799
  • Good: 670-739
  • Fair: 580-669
  • Poor: 300-579

It’s up to you to decide the minimum credit score that’s acceptable to you. But many landlords set 600 as the lowest score to rent a house.

Things to remember when renting to tenants with bad credit

Even if an applicant has a negative credit score, that doesn’t always mean you shouldn’t rent to them. Here are some things to remember when renting to tenants with bad credit:

1. Understand the reason for the bad credit score

Credit scores come from various factors, including payment history, account balances, length of credit, types of credit accounts and recent activity on these accounts. But, many different things affect these elements.

For example, if someone is a recent graduate or just moving out on their own, they likely haven’t built up a solid credit history, which could show up on their credit report as a low score. Financial changes from getting a divorce, incurring large medical bills or being a victim of identity theft can also ding someone’s credit.

Communicating with the applicant about why their credit score is low is crucial. It will help you understand their situation and build a trusting relationship. The more information you have, the more informed decision you can make.

2. Get proof of income

The screening process should include verifying the applicant’s income. If someone has a steady job with a decent salary, it could overshadow their poor credit score and set your mind at ease about their ability to pay rent.

Ask for pay stubs and contact information for their employer to find out how long the person has worked there and to verify their salary. Make sure their income is at least three times the monthly rent to ensure they can afford it.

3. Check rental history

An applicant’s behavior with previous landlords are a telling sign of how they’ll be with you. If the individual is renting somewhere else, ask for rent receipts showing that they’ve paid on time each month.

Contact previous landlords, as well, to learn more about their rental history. Find out what type of tenant they were, whether they followed the lease, paid rent on time and if they got evicted. If past landlords don’t have good things to say, it’s a good idea to move on to another renter.

4. Charge a higher deposit

Banks often charge people with lower credit scores a higher interest rate to protect themselves against the risk. So, you might want to consider doing something similar.

Increasing the deposit amount could lower your risk of tenants defaulting on their rent payments. If your typical deposit is one month’s rent and a security deposit, increase it to two months’ rent and a security deposit. Make sure whatever you charge aligns with local landlord-tenant laws, which may set caps on security deposits or other fees.

5. Require a co-signer or guarantor

Another option for renting to tenants with bad credit is to ask them to have someone with good credit to co-sign or act as a guarantor on their lease. If you’re not sure of the difference between a co-signer and guarantor, here’s an overview:

  • A guarantor is usually a family member or friend who agrees to take on the responsibility of paying rent or covering property damage if the tenant can’t. Guarantors sign the lease but usually don’t live in the home.
  • A co-signer is often a roommate and signs the lease with the right to occupy the home. The co-signer agrees to share the responsibility for the rent, fees and damage. They may contribute to the monthly rent and are responsible for paying when the tenant can’t.

If you allow a co-signer or guarantor, you’ll need to check that person’s credit history and proof of income, as well.

6. Use a shorter lease

The term for most rental lease agreements is one year. Offering a shorter lease term, such as three or six months, is an option for renting to tenants with bad credit. A shorter lease gives the tenant the opportunity to prove they can pay rent on time and protects you in case they can’t by ending the tenancy within a short timeframe.

If everything works out after the shortened lease ends, you can ask the renter to sign a year-long lease.

Renting to tenants with bad credit

Renting to tenants with bad credit is risky. You’re not sure of their financial situation and whether they’ll pay rent. But automatically discounting these tenants because of their poor credit might be a mistake.

If the individual meets all your other requirements and seems like a good fit, consider charging a higher deposit or relying more on proof of income. The tenant will appreciate your willingness to work with them since renting a home with bad credit is challenging.

Categories: Landlords

Source: rent.com

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Home insurance is meant to protect your finances: your house, your belongings and your assets. But not all policies are created equal. What they cover depends on whether you own or rent, and whether the residence is a house, a condo or a mobile home.

Many homeowners insurance policies are based on a set of templates issued by the Insurance Services Office (ISO), which is why these templates are sometimes called ISO forms. (The Insurance Services Office is now part of analytics firm Verisk.) Although you may not see technical terms like “HO-3” or “named perils” when you’re shopping for a policy, knowing the different coverage types can help you better understand what you’re buying.

This guide breaks down the different types of home insurance policies to help you understand which policy is right for your needs.

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Named perils vs. open perils

Before diving into the different types of home insurance and what they cover, it’s helpful to understand how perils work. A “peril” is an event that can cause damage or loss to your home and your belongings.

Some parts of your home insurance policy may operate on a “named perils” basis, meaning you’re only insured against the specific events listed in your policy. Others may operate on an “open perils” or “all-risk” basis, meaning you’re insured against all events except listed exclusions.

Understanding what types of perils a home insurance policy covers is vital. Generally, open peril policies provide the most coverage.

Types of home insurance coverage

Standard homeowners insurance policies generally include these six types of coverage, unless otherwise noted in the policy:

Coverage type

What it does

Typical amount

Covers damage to the home and attached structures, such as a porch.

Enough to rebuild your home.

Covers stand-alone structures on your property, such as a fence or shed.

10% of dwelling coverage.

Pays to repair or replace stolen or damaged belongings.

50% to 70% of dwelling coverage.

Helps pay temporary living expenses while your home is being repaired.

20% of dwelling coverage.

Pays if you injure someone or cause property damage unintentionally or through neglect.

$100,000 to $500,000.

Pays to treat someone injured on your property, regardless of who’s at fault. It also pays if you, a family member or a pet injures someone away from your home.

$1,000 to $5,000.

The most common types of home insurance policies

Insurance providers typically sell several types of home insurance policies, each of which offers varying levels of coverage. It’s important to read the details of your policy to understand what is and isn’t covered.

HO-1: Basic form policy

An HO-1 policy is the most bare-bones type of home insurance. It generally covers the physical structure of your house. It may sometimes include coverage for other structures, personal property, additional living costs and liability.

An HO-1 policy typically covers damage caused by these 10 named perils:

  • Fire or lightning.

  • Windstorm or hail.

  • Explosion.

  • Riot or civil commotion.

  • Damage caused by aircraft or vehicles.

  • Vandalism.

  • Volcanic eruption.

Even if an HO-1 policy is available to you, many homeowners opt for an HO-3 policy instead because it offers more coverage.

HO-2: Broad form policy

HO-2 policies are sometimes known as “broad form” policies because they cover more perils than HO-1 policies, but their coverage is still limited. In addition to the 10 perils covered by HO-1 policies, the HO-2 policy adds coverage for:

  • Falling objects.

  • Weight of ice, snow or sleet.

  • Accidental overflow or discharge of water or steam.

  • Freezing of plumbing, heating or air conditioning.

  • Sudden and accidental tearing apart, cracking, burning or bulging of certain household systems.

  • Sudden and accidental damage from artificially generated electrical current.

If a peril that damages your house or belongings isn’t explicitly named in the policy, the loss won’t be covered.

Some HO-2 policies also provide personal liability coverage.

HO-3: Special form policy

An HO-3 policy is the most popular type of home insurance. It’s known as a “special form” or “open perils” policy. It insures the structure of your home against all causes of damage except those specifically listed as exclusions in your policy.

Here are common exclusions:

  • Earthquake.

  • Power failure.

  • War and nuclear accidents.

  • Intentional damage.

  • Government actions.

  • Birds, vermin, rodents or insects.

  • Damage caused by your pets.

  • Smog, rust or corrosion.

  • Wear and tear.

  • Pollution.

Personal belongings like furniture, electronics and clothes are covered on a “named perils” basis. That means only damage caused by events specifically listed in your policy are covered. These typically include:

  • Fire or lightning.

  • Windstorm or hail.

  • Explosion.

  • Riot or civil commotion.

  • Damage caused by aircraft or vehicles.

  • Vandalism or mischief.

  • Volcanic eruption.

  • Falling objects.

  • Weight of snow, ice or sleet.

  • Accidental discharge or overflow of water or steam.

  • Sudden or accidental tearing, cracking, burning or bulging.

  • Freezing of plumbing or HVAC systems.

  • Damage due to artificially generated electrical current.

🤓Nerdy Tip

You’ll typically need separate flood insurance or earthquake insurance if you live in an area that’s prone to these risks, as they are not covered by standard home insurance policies.

HO-4: Contents broad form policy

An HO-4 policy is commonly referred to as renters insurance. It’s designed specifically for individuals who are renting a home or an apartment. The main purpose of this policy is to cover your belongings, not the building itself.

An HO-4 policy safeguards your stuff — like furniture, clothes and electronics — against the same 16 perils covered by an HO-3 policy. It also includes personal liability and additional living expenses coverage.

The actual building you live in is not covered under your HO-4 policy. It’s your landlord’s responsibility to insure the structure of the building and to have it fixed if it’s damaged.

HO-5: Comprehensive policy

An HO-5 policy is like the gold standard of home insurance. It’s also called a comprehensive policy because it typically offers higher coverage limits for personal belongings and personal liability than an HO-3 policy.

An HO-5 policy covers your personal belongings on a replacement cost basis. So if something happens to them, you get the amount it costs to replace them, not just their current depreciated value. In addition, an HO-5 policy covers your belongings on an open perils basis. It also provides coverage for loss-of-use and medical payments for others.

HO-6: Unit owners policy

An HO-6 policy is for condo owners. It’s often called “walls-in coverage” because it protects what’s inside your condo, like the floors, ceilings, walls and any renovations you’ve made. It insures against the same perils as an HO-3 policy and includes coverage for your personal belongings, additional living expenses and personal liability.

But here’s the catch — this policy doesn’t cover the entire building or common areas. That’s usually handled by your condo association’s insurance. You pay for this through your condo or HOA fees. Check what your association’s policy covers to avoid any gaps or overlaps.

HO-7: Mobile home policy

An HO-7 policy is for mobile homes. It includes coverage for your home, your personal property, other structures, loss of use, personal liability and medical payments.

Similar to HO-3 policies, HO-7 policies work on an open perils basis for your mobile home’s structure and a named perils basis for your belongings. Read more about mobile home insurance.

HO-8: Modified coverage policy

HO-8 insurance is for homes more than 40 years old where it might cost more to rebuild than the house is worth. This includes historic houses or ones built in unique ways.

HO-8 insurance covers your dwelling and personal property on a named perils basis. Instead of paying the full replacement cost for damages to your home’s structure, an HO-8 policy typically reimburses the actual cash value. This means it pays you what your home is worth in cash at the time of the claim, not what it costs to rebuild.

HO-14: Contents comprehensive policy

The HO-14 policy is an advanced version of the traditional HO-4 renters insurance. Unlike the HO-4, which covers named perils, the HO-14 operates on an open perils basis, meaning it covers all risks unless they’re specifically excluded. Also, while the HO-4 provides actual cash value coverage, the HO-14 insures your items at their full replacement cost.

HO-14 insurance may come with unique features like coverage for home-sharing activities, a $500 allowance for bed bug treatments and a $300 provision for hard drive data recovery.

Get home insurance quotes in minutes

Answer a few questions to see custom quotes and find the right policy for you.

The difference between HO-3 and HO-5 policies

Both HO-3 and HO-5 policies cover your home’s structure, personal belongings, liability, medical payments and additional living expense coverage. The big difference is how they insure your belongings.

HO-3 policies use open perils for the house’s structure but named perils for personal belongings. If the policy doesn’t specifically exclude a risk for the house, it’s covered. But for belongings, it only covers listed events.

HO-5 policies are more comprehensive. They use open perils for both the home and personal belongings, covering all risks unless specifically excluded. Because HO-5 offers broader coverage, it’s often more expensive than HO-3.

HO-3 policy

HO-5 policy

Dwelling coverage

Open perils (covers all risks except exclusions).

Open perils (covers all risks except exclusions).

Personal property

Named perils (covers only specific risks).

Open perils (covers all risks except exclusions).

Coverage breadth

Broad coverage, but with some limitations.

Most comprehensive coverage.

Typical usage

Most common among homeowners.

Preferred for higher-value homes.

Generally less expensive.

Typically more expensive.

Source: nerdwallet.com

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Can you afford to settle down in Seattle?

In the heart of the Pacific Northwest, the Seattle housing market is a fascinating real estate scene. Underscored by competitive pricing and swift sales, the Seattle housing market is a hotbed for homebuyers and investors alike.

With so much heat surrounding this constantly evolving market, there has never been a better time to take the first few steps toward fully understanding the nuances of owning or renting a home in the heart of the Pacific Northwest.

Stay tuned as we break down some of the most interesting aspects of the Seattle housing market and provide some examples of how the financial reality of owning a home in the Emerald City compares to renting an apartment.

The Seattle housing market

As we delve into the intricacies of the Seattle housing market, a key takeaway emerges, the median sale price of a Seattle home has experienced a decrease of 2.6% year-over-year to rest at $800,000. This adjustment, while subtle, is still noteworthy because it may signal a temporary (or longer) breather in the otherwise bustling Seattle housing market.

Despite this marginal cooling, the pace of Seattle’s housing market remains upbeat. Homes here are scooped up off the market after a mere 14 days on the market, a notable uptick from the previous year’s 17-day benchmark. This brisk pace of sales is emblematic of a persistent demand for housing in Seattle at all price points.

Seattle home sales

While the median home sale price has dipped slightly, the amount of sales tells a more complex story. In September 2023, the Seattle housing market saw a sales volume of 635 homes — a sharp 21.3% decrease from the previous year. This shift in volume may reflect a multitude of narratives, from inventory flux to economic uncertainty influencing buyer behavior.

Competition in Seattle’s housing market

In the competitive Seattle housing market, homes not only sell fast but often above the asking price, too. The current market sees homes achieving 99.9% of their listed value, with about 27.9% of them closing above the listing price. This increase in homes selling over the asking price — a jump of 6.6 percentage points from last year — highlights the vigorous competition among qualified buyers.

Seattle housing market migration

Migration trends play a role in Seattle’s housing market. The recent data shows that a striking 82% of homebuyers in Seattle are choosing to stay within the metropolitan area. Yet, for those looking to move into Seattle from the outside, the city is drawing crowds from metros like Louisville, San Francisco and Los Angeles.

Conversely, Seattleites who are eying an exit tend to cast their gaze toward places like Spokane, Phoenix and Wenatchee, perhaps seeking different economic conditions or even a slower pace of life.

How climate affects the Seattle housing market

With environmental concerns increasingly playing a role in housing decisions, the Seattle housing market faces a moderate assortment of environmental risks, namely in flood and water damage.

The minor risk of wildfires and negligible concern for severe winds strike a chord with those weighing up the safety of their investments against the changing climate measures. All in all, Seattle is not as risky, in terms of environmental concerns, as many other cities on the West Coast.

Life in Seattle

Beyond the numbers, the quality of life in Seattle contributes to its market’s prowess. With high walkability, transit accessibility and bike-friendly streets dramatically lessening some of the more annoying and persistent noises that often plague life in larger cities, there’s a certain peace in Seattle that is truly difficult to find in other cities of comparable size.

Settle down in your ideal Seattle home

Seattle remains an enduring epicenter for real estate activity in the Pacific Northwest. The market’s recent dip in pricing and pace sets the stage for a complex interplay of supply, demand and economics. For those tuned into the nuances of real estate, the Seattle housing market presents a dynamic opportunity, one that calls for savvy negotiation and an appreciation for the city’s unique lifestyle composition.

Renting in Seattle

Just as the Seattle housing market has its own unique ebbs and flows, the city’s rental market does as well. The nuances of renting in Seattle offer a range of experiences, from solo living in studios to too many roommates in two-bedroom apartments, any number of renting scenarios is possible in the Emerald City.

Current rent prices in Seattle

Seattle’s rental market, as of late 2023, reveals prices that cater to a diverse audience of renters. For those seeking the compact convenience of a studio apartment, the average rent has dipped to $1,422, a significant decrease of 16% from the previous year. This downward trend presents a more accessible entry point for individuals looking to enjoy city life on a budget.

For one-bedroom apartments, the average rent rests at $2,145, reflecting a 10% decrease compared to prior figures. For those requiring more room to compose their lives — perhaps a couple or a small family — this price point offers the extra space with just a moderated increase in cost.

For two-bedroom units, the average rent comes in at $2,991, a 12% reduction from previous years. This adjustment in the rental market may resonate well with those looking to harmonize affordability with the need for more expansive living quarters.

Seattle rent ranges

The makeup of apartment prices in Seattle’s rental market reveals that 30% of the apartments hit the middle range of $1,501-$2,100, indicating a substantial segment of the market is oriented towards moderate pricing. Meanwhile, a smaller, yet noteworthy, 19% of apartments fall between $1,001-$1,500, showcasing the availability of lower-priced units that attract budget-conscious renters.

Interestingly, apartments priced at $701-$1,000 comprise a mere 4% of the market, illustrating the rarity of finding such affordability within the city limits. The absence of units in the $501-$700 range is a silent note in the city’s rental market score, underscoring the premium placed on living in Seattle.

Finding your space in Seattle’s rental market

Seattle’s real estate and rental markets are full of complexities and variations. Despite recent dips in average rent prices, providing a softening counterpoint to the competitive housing sales market, Seattle’s rental market maintains a steady rhythm of demand with just enough supply to get by.

With its strong economy, scenic charm and cultural relevance, Seattle continues to attract people from across the country and throughout the globe. Whether people are drawn to the city’s rental market as a prelude to homeownership or as a long-term lifestyle choice, Seattle is home to a range of living options that suit different lifestyles and budgets.

Does Seattle sound like the place for you? The perfect Seattle apartment is only a few clicks away.

Source: rent.com

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Here’s everything you’ll need to know about how to rent a house, including how it’s different from apartment renting.

Maybe you have a growing family or elderly parents moving in. Perhaps you need a dedicated office or you’re craving outdoor space and more privacy than most apartment complexes offer.

If you can’t afford to buy your own home, you can upgrade your living arrangements by renting one. Still wondering how to accomplish this milestone, though? We’ll walk you through it step by step.

How renting a home is different than renting an apartment

While the renting process may be similar, there are large differences that any prospective tenants should be aware of, so their renting process runs smoothly. Navigating the local market is tricky enough, turn to this guide to delve into the must-knows for your home renting experience.

1. Your rent price will look drastically different

Before beginning your hunt for the perfect rental home, you’ll need to figure out what you can afford. Factoring in your income and recurring expenses including any loan payments, check out our helpful tool that will calculate average rents and the cost of living in major cities. You’ll notice upfront, that renting a house may be pricier, due to numerous reasons.

In addition to the monthly rent you’ll be forking over, there are other costs to consider that you may not have had to deal with as an apartment dweller. For example, things like heat, hot water, electricity, internet and satellite TV that are sometimes covered with an apartment rental will likely come straight out of your pocket when you rent a house.

Also, you might be responsible for lawn care, snow removal and other general maintenance, so if you don’t want to take care of those yourself, plan to budget for hiring out those tasks.

You’ll also need to know your credit score to see if you have to get a co-signer or guarantor — someone with good credit who would be liable for your rent if you can’t pay it. This will be added to your lease agreement should this be the case.

2. Your wants and needs will be more extensive

Once you’re clear on your budget, the fun part of researching houses for rent begins. It’s best to start by narrowing down your search to a few choice neighborhoods that offer the amenities you’re looking for, including proximity to work or your children’s schools. Due to the nature of a home (which lacks the built-in amenities an apartment has) your wants and needs for your ideal rental property will be longer.

It’s helpful to make a list of wants vs. needs to help you sort through your thoughts on your dream rental properties:

  • If you or your family are active or love nature, is the area close to parks and recreation centers?
  • Do you want a bustling neighborhood packed with restaurants, cafés and boutiques, or would you prefer a quiet, suburban environment?
  • Is a backyard important to you?
  • Do you need a garage or dedicated parking space?
  • Are you looking for a detached home to rent or are you okay with a townhouse?
  • Does the neighborhood have easy access to public transportation?

3. You’re sure to attend more tours and have more questions

Reading rental listings and taking a good look at the photos is typically not enough to determine whether a rental house might work for you.

While apartment complexes might post floor plans and room sizes online, you might not have advanced information like that with homes for rent. This means you’ll need to ask the landlord, property manager or rental property owner about many things that may not be explicitly listed:

  • Is the home pet-friendly?
  • Are appliances included, or would you need to purchase your own?
  • Is the house furnished? If it is, can you decide what stays or goes?
  • Are laundry hook-ups in place?
  • If utilities are not included in the monthly rent, how much can you expect to pay for heat, electricity and hot water?
  • Can you make decorative changes, such as painting the walls or changing light fixtures?
  • If there’s a backyard, can you plant a garden?
  • Is there a home owners association to which you will owe monthly fees?

4. Your neighborhood will be more important than ever

If you like the looks of a house for rent, and the landlord has answered questions to your satisfaction, make sure you also tour the area to get a sense of whether it would be a good fit for you and your family.

Try to speak to some potential neighbors, too: Ask them if it’s safe to walk the streets at night, whether it’s noisy and whether there are other children on the block.

It’s a good idea to visit the street both during the day and in the evening if possible. If the rental home does not have a garage or dedicated parking spot, check out whether street parking is readily available. It’s important to confirm that the right rent price takes into account the neighborhood and what it has to offer potential tenants.

5. There’s additional paperwork, like a home rental application

Paperwork for renting an apartment is a given, however, there tends to be a bit more when it comes to renting a home. Keep in mind, if the property is in a popular neighborhood in a hot real estate market, you won’t want to waste any before time letting the landlord know you’re ready to begin the application process.

Some property managers will charge you a fee between $25 to $100 before opening a file. Supply the following information to help the landlord determine if you are a good candidate to rent the house:

  • Your personal contact information
  • Proof of income. If you work full-time, pay stubs are sufficient. If you are self-employed, you can present bank statements or tax returns from the past three years. Retirees can provide proof of pension, 401(k) or bank statements.
  • Your guarantor’s name and contact information, if applicable
  • References who can vouch for your reliability and trustworthiness, such as a supervisor or former landlord

6. More rules you’ll have to adhere to

If your rental home has an HOA, you’ll need to check in with them to see if there are any regulations to follow on moving day, such as not leaving empty boxes at the curb when moving. There will likely also be regulations ranging from decorating to construction restrictions that the homeowner, in this case the landlord, will have to adhere to.

The similarities between renting an apartment and a house

There are some steps and parts of the renting process that don’t change even though the type of rental property does. There are similarities beyond the obvious of needing to pay rent and adhering to rental laws.

1. The background check

Landlords want tenants who have a steady income, a good loan repayment track record and a history of paying rent on time. Often, they will conduct a background check to assess whether they want to rent you their house.

During this part of the process, a property manager will likely want to confirm your employment, speak to the references you provided and check your credit report to see how you managed past payments.

2. The required fees such as a security deposit and first month’s rent

Some landlords will require a security deposit equivalent to a month’s rent, which would cover any damage to the property you might cause during the term of the lease. In some cases, you can either be refunded this fee when the lease is up or it goes to the last month’s rent.

You might also have to pay the first month’s rent once you sign a lease, even if you’re not moving in for a while. Sometimes, you’ll be charged a deposit for keys if you require more than one.

3. The moving process

While you won’t have to reserve an elevator to move into your rental home the way you did when you lived in an apartment, there are some things you need to organize before the big move.

For example, before you book a professional moving company, find out from the landlord if you can reserve a parking spot in front of the house where the truck can park, or whether it can back onto part of the property for easier unloading.

Once that’s done, you can concentrate on packing up and getting ready to move into your new home. Don’t forget to advise utility companies, internet and television providers and anyone else who needs to know you’re moving elsewhere.

Make sure to stay on top of details

Taking the time to research rental homes and neighborhoods and asking the right questions will make the transition from apartment living to a home rental go more smoothly.

Being organized with your paperwork and task list for moving day will provide peace of mind and fewer last-minute glitches so that you can celebrate once you’re settled into your new rental home.

And if you’re thinking about renting out your home for some passive income-generating opportunities, take a look at our rent estimator to see how much you could be earning.

Wesley is a Charlotte-based writer with a degree in Mass Communication from the University of South Carolina. Her background includes 6 years in non-profit communication and 4 years in editorial writing. She’s passionate about traveling, volunteering, cooking and drinking her morning iced coffee. When she’s not writing, you can find her relaxing with family or exploring Charlotte with her friends.

Source: rent.com

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Summerville, a picturesque town nestled in the heart of South Carolina, encapsulates a unique blend of southern charm, historic significance and modern convenience.

The overarching question — is Summerville, SC, a good place to live? — becomes easier to answer as one delves into the fabric of this quaint yet burgeoning locale. The aim of this article is to provide a well-rounded view of living in Summerville, the cost of living, employment opportunities and the social and cultural fabric that awaits newcomers and longtime residents alike.

Location, location, location

Summerville’s geographical positioning allows its residents to experience a plethora of sceneries and activities. Charleston Harbor is a mere 24 miles away, offering access to an expansive maritime vista, while a short drive to Folly Beach or Sullivan’s Island opens up a gateway to sun, sand and surf.

Demographic diversity in Summerville

The racial makeup of Summerville, SC, presents a mosaic of cultures, predominantly comprising white, Black, Latine and Asian communities, thus fostering a rich cultural blend. The inclusion of different ethnicities is a part of Summerville’s charm, allowing for a vibrant, multicultural community.

Historic significance

History aficionados would be drawn to Summerville’s rich history, with the town playing host to numerous historically significant sites. The Drayton Hall, Magnolia Plantation and the Aiken Rhett House Museum offer glimpses into the antebellum era and Civil War history.

Weather and natural disasters

While Summerville, SC, does experience hurricanes, the town has a solid infrastructure in place to manage and mitigate the effects of such natural disasters. Its inland location serves as a natural barrier, providing a level of protection against the harshest weather conditions.

Education and employment in Summerville, SC

Charleston Southern University, located a short drive away, is one of many educational institutions offering quality education to Summerville residents. The town also boasts a growing job market with varied employment opportunities, ensuring a stable economic outlook.

Recreational activities

The abundance of walking trails like the Oakbrook Nature Trail, and waterways such as Ashley River, provide ample recreational opportunities. The nearby Jessen Public Boat Landing is a favorite among boating enthusiasts.

Cost of living in Summerville

The cost of living in Summerville, SC, is generally lower than the national average, which is a significant draw for many. Housing, represented by a mix of historic homes, new construction, and Summerville homes in serene neighborhoods, is relatively affordable with the median home price being attractive to both young families and retirees.

Summerville’s real estate market

The real estate market in Summerville, SC is thriving, thanks to a boom in population growth and the subsequent demand for housing. Real estate agents are seeing an upward trend in property values, yet the cost of owning or renting a home remains affordable compared to many other regions in the South.

Culinary scene in Summerville, SC

The culinary palette in Summerville is as diverse as its populace. From smoked chicken to pork belly, ribeye steaks to fried green tomatoes, the food scene is a blend of traditional southern and modern cuisines. Restaurants and food trucks alike offer a wide range of food options, catering to different tastes.

Social aspects

Southern hospitality is alive and well in Summerville. The small town feel, coupled with the friendliness of Summerville residents, creates a welcoming environment. Community events like the Flowertown Festival are a testament to the town’s social cohesion, bringing together people from all walks of life.

Summerville’s growth trend

Summerville’s growth trend is a positive indicator of its viability as a place to live. The influx of more people, bolstered by opening doors of opportunity, is transforming the town while retaining its historic charm.

Conclusion

The blend of affordable living, a robust real estate market, promising job opportunities and a welcoming community makes Summerville, SC a great place to live. Its proximity to beaches, historic downtown Charleston and numerous tourist attractions, like the Folly Beach County Park, add to the allure.

Individuals and families considering moving to Summerville will find a balanced mix of historical essence, modern amenities, and a promising future. If you’re ready to make your move, take a look at our Summerville, SC, apartments for rent.

Source: rent.com

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Are you a property manager looking to attract future residents, or a private owner aiming to showcase your rental online? The secret to success is apartment staging. Transforming your space into a welcoming and visually appealing environment can make all the difference in capturing potential tenants’ attention. 

In this Redfin article, we’ll delve into expert apartment staging tips and rental staging techniques to help you shine in the competitive rental market, whether you’re in bustling cities like New York and Los Angeles or thriving rental markets such as Austin and Seattle. Let’s get started. 

1. Curb appeal matters

Curb appeal isn’t just for homeowners; it’s equally vital when staging a rental property. Before potential tenants even step inside your rental property, they’ll form their first impression based on its exterior. 

Whether it’s refreshing the paint on the front door, adding potted plants to the entryway, or ensuring the walkway is clean and well-lit, small enhancements to the property’s exterior can make a significant difference. Remember, the goal is to make prospective renters envision themselves coming home to that space every day.

2. Start with a clean slate

Before staging, ensure your rental is spotless. Clean every nook and cranny, including carpets, windows, and appliances. A clean space feels more inviting and allows potential tenants to envision themselves living there.

Expert tip: ”To successfully stage your rental home or apartment, the first step is organizing and decluttering your belongings,” shares professionals Cut the Clutter RVA. “It’s essential to edit your possessions. This means assessing what you actually use and removing items that no longer serve a purpose – a critical step, particularly in smaller spaces prone to clutter. A well-organized and clutter-free environment creates the illusion of more space and enhances the appeal of your rental property to potential tenants.”

3. Focus on your audience when staging

Whether it’s a home or a rental, your first step should always be to consider your potential tenant. It’s not just about making it look nice; it’s about ensuring it resonates with those who might call it home.

Expert tip: “When staging a property, whether it’s a home or rental, the first step is to consider your potential buyer,” recommends international media group Inspired Spaces. “Identify your audience – young families, singles, retirees, professionals – and adapt the style, room arrangements, and color palette accordingly. For instance, if your target is young professionals, a secondary bedroom could serve as an office. But for a young family, that same room is best as a child’s bedroom. Focus on neutral, yet inviting color palettes in each space. This appeals to a wider range of buyers, aiming for sophistication that remains relatable.”

4. Use a neutral color palette

Opt for a neutral color scheme when painting walls and selecting furnishings. Neutral tones create a blank canvas that appeals to a broader audience and allows renters to add their personal touches with ease.

Expert tip: Broker Corrie Hayes emphasizes the importance of cohesive decor in creating a balanced room. “Have you ever thought, ‘something is off?’ in a room, but you can’t put your finger on it? Your space can unintentionally feel like it’s having an identity crisis. Whether it’s shabby chic, industrial, rustic farmhouse, or modern sleek, creating harmony in your decor is key. Mixing contrasting styles can lead to visual confusion, but it can be resolved with purposeful choices like coordinating grey couches with beige or cream throws, wall art featuring a mix of complementary colors, and bedding that combines various neutral tones. The result is an inviting space that appeals to a broad range of individuals.”

5. Choose furniture that fits the space

When selecting furniture, consider the size of the space. Avoid overcrowding rooms; instead, opt for appropriately sized furniture that complements the room’s layout. Don’t forget comfortable seating in common areas to highlight a cozy atmosphere.

Expert tip: According to Southern Maryland interior designers at Chesapeake Staging & Interiors, LLC, there are key logistics to consider when staging a rental property or unit. “The first is whether or not the property or unit will be listed as furnished. If not, you’ll need to state that it is an unfurnished unit to avoid confusing potential renters. If it is furnished, you’ll need to stage it with quality furniture that can withstand a renter’s use.”

6. Focus on lighting 

Natural light is a key selling point. Open curtains or blinds to let in sunlight and add floor or table lamps where needed, to create a warm and well-lit environment. Adequate lighting enhances the overall ambiance.

Expert tip: According to Aspect Staging, “Lighting plays a vital role in enhancing your rental property’s appeal. To create a warm and inviting atmosphere, strategically illuminate key areas like the living room and bedroom. Use modern floor lamps to brighten dark corners, and consider matching bedside table lamps for a cozy ambiance. Opt for soft white light bulbs with a color temperature between 3000k and 3500k lumens to strike the perfect balance between warm and cool lighting, making your space feel spacious and inviting.”

7. Emphasize storage possibilities

Highlight the storage options in your rental property, as it’s a top priority for many renters. Keep closets and cabinets organized and clutter-free, allowing tenants to envision their belongings neatly stored. Well-arranged storage spaces make your property appear spacious and cater to practical needs, enhancing its appeal.

8. Use staging to define spaces within your rental 

If your rental space lacks distinct areas, create them with furniture placement and rugs. Clearly defined living, dining, and sleeping areas can help renters visualize the functionality of the space.

Expert tip: Birgit Anich, CEO and Creative Director at BA Staging & Interiors, emphasizes that staging a rental property parallels staging one for sale. “Given that rental apartments often have limited space, a clear definition of how each area is used is key. The level of sophistication in staging should align with the rental price. A deliberate design that incorporates the renter’s lifestyle and aspirations into the details can evoke emotions and foster a connection with the space, making it more enticing.”

9. Accessorize your rental thoughtfully

Incorporate tasteful accessories such as throw pillows, artwork, and decorative items. These personal touches add character to the space and help renters connect emotionally with the property.

Expert tip: Professional real estate photographer Cynthia James Photography advises that, “When selecting a rental property, it’s crucial to create a welcoming home-like ambiance. In urban areas, consider faux plants for a touch of nature. Enhance the kitchen’s charm with decorative canisters, a recipe book holder, draped kitchen towels, and fresh flowers. In the owner’s bedroom, a queen-size bed with neutral bedding, layered pillows, a quilt, and blankets add comfort. Transform the bathroom into a serene spa with a small rug, neatly arranged soaps, and folded white towels. At the entrance, a welcoming doormat and decorative items like a wreath or home sign can make your rental feel like a comfortable long-term home.”

10. Be creative while staging

In the world of rental property staging, creativity can be your secret weapon. When it comes to making your space more appealing to potential tenants, a dash of innovation can transform ordinary into extraordinary.

Expert tip: For renters looking to make their space more appealing, Florida interior designers TOSCANO INTERIORS recommend creative staging techniques. They suggest, “Converting underutilized spaces and incorporating local art and craftsmanship to add authenticity. The key is to strike a balance between uniqueness and broad appeal, ensuring that unique touches enhance the space. This helps renters create a compelling narrative in their home through furniture, decor, and color choices.”

11. Use fresh flowers and greenery throughout your space

Adding a touch of nature to your staging can work wonders. Fresh flowers and potted plants breathe life into your rental space, infusing it with vitality and freshness. Fresh flowers bring color and a welcoming fragrance, while greenery introduces a calming presence. They are versatile, complement various interior styles, and require minimal maintenance. These natural elements make your property feel like a vibrant and inviting home, leaving a lasting impression on potential tenants.

12. Make sure the rental is clean and smells nice

Before each showing or photoshoot, ensure the space is clean and well-maintained. A final walkthrough is crucial to catch any last-minute details that need attention.

Expert tip: “Don’t underestimate the impact of odors on potential buyers,” says CC Staging & Design. “Unpleasant smells, whether from pets, cooking, or other sources, can quickly deter them. Take proactive steps to ensure your home exudes a fresh and clean scent. Deep-clean carpets, introduce air purifiers for a crisp ambiance, and opt for subtle, pleasant scents rather than overpowering air fresheners. Elevate your home’s appeal with an inviting and refreshing fragrance.”

13. Hire a photographer

Invest in professional photography for your rental property. High-quality images make your online listing stand out and attract more potential tenants. Make sure the photographer captures the best angles and showcases the key selling points.

Expert tip: AV Home Staging brings attention to the advantages of staging in your rental property marketing strategy. Their tip, “Marketing increases more viewings and showings. With a vast number of renters starting their search online, professionally staged photos create a lasting impact, piquing interest and yielding a larger pool of potential applicants – a win-win for any rental property owner.”

14. Be ready to show your rental 

In the competitive rental market, readiness is essential. Whether it’s in-person tours or virtual viewings, your ability to promptly and flexibly present the property is crucial. Be flexible with showing schedules, maintain the property’s condition, have the necessary technology for virtual viewings, be well-informed, follow protocols, and prioritize prompt communication to make your rental more appealing to prospective tenants.

A final note on staging a rental

By following these expert apartment staging tips and rental staging techniques, you’ll increase your chances of attracting the right tenants and securing your rental property’s success. Remember, the goal is to create a space that feels like home from the moment potential tenants step inside or view it online. Happy staging!

Source: redfin.com

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Whether you’re moving out of your parent’s house or leaving the dorm life behind, becoming a first-time apartment renter is a big and exciting step. However, if you don’t know the ins and outs of the rental process, the task can seem overwhelming. Luckily, we at Redfin put together a list of 8 key tips to help first-time renters find their perfect first apartment and make the transition as smooth as possible. Whether you’re renting an apartment in Los Angeles, CA, or in Brooklyn, NY, these tips will be invaluable in your journey to securing the ideal rental space.

1. Your budget needs to cover more than just rent

If you’re a first-time apartment renter, knowing how to budget for your first apartment is crucial. Your monthly rent will, of course, be the most considerable expense you need to account for, but there are other one-time and ongoing fees that you should be able to pay. Let’s take a look at these costs more closely.

Initial, one-time costs

Before moving into your new apartment, you should save enough money to pay for the following upfront costs:

Recurring costs

Once you’ve moved into your first apartment, there are several ongoing expenses you’ll need to cover every month:

  • Rent
  • Utilities, such as electricity, garbage, water, sewage, etc.
  • Internet and phone
  • Parking
  • Laundry

As a first-time apartment renter, this might be the first time you’re responsible for these types of expenses. The last thing you want to do is misjudge what you can afford because you forgot to factor in these essential components of your cost of living. 

2. Make a list of needs, then prioritize them

Start with your dream apartment – what is your ultimate living situation? While you may not end up with everything on your list, it’s essential to understand what you value in your home. Some common needs for first-time apartment renters are:

  • Functional kitchen
  • Balcony, patio, or other private outdoor space
  • Closet and storage space
  • Proximity to work, nightlife, dog parks, or other amenities
  • Natural light and direction of exposure
  • Air conditioning
  • Building amenities, such as a gym, rooftop, or business center

Once you have your list, prioritize the items from most to least important. This will help you narrow down your choices and choose between similar properties. 

3. Ask a lot of questions during apartment tours

There are some things you just need to know when you’re shopping for apartments. You may direct these questions to your prospective landlord, or you might have to do some research on your own. Here is a list of must-ask questions, but you may choose to add others depending on your needs.

  1. How much is the rent?
  2. Are utilities included? If not, how much do they usually cost?
  3. How much is the security deposit?
  4. How do I pay rent and utilities?
  5. Is there a parking fee? 
  6. Is the apartment pet-friendly, and if so, what are the associated fees?
  7. Are any deposits or fees refunded at the end of the lease?
  8. Do I need proof of renters insurance?
  9. What’s the application process, and is there a fee?
  10. How long is the lease term?
  11. How often does rent increase and by how much?
  12. What alterations can I make to my apartment?
  13. How is apartment maintenance dealt with? 
  14. Is there a property manager?
  15. Am I responsible for any maintenance?
  16. What amenities are available nearby?
  17. Are there any particular policies I should know about?

These questions are just the beginning. You likely have special needs or preferences that should inspire additional questions. Keep a list of these questions with you when touring, along with a way of recording the answers. 

4. Know the rental application requirements

Each apartment will have a different rental process. Generally, your process will include some or all of the following:

  1. Fill out an apartment application
  2. Show proof of income
  3. Complete a credit check
  4. Complete a background check
  5. Provide rental history with the landlord’s contact information or a personal reference
  6. Add a co-signer if you have a low credit score or no credit history
  7. Include an optional cover letter

To show proof of income, you’ll likely need to provide your most recent pay stubs. You can also use an offer letter or letter from your employer if you’re moving for work. Many landlords or property management companies want to see that you have a reliable monthly income appropriate for the rent payment. While it depends on the apartment, there is often an income requirement that the renter needs to make 2 to 3 times the monthly rent amount.

5. Clarify the parking situation

Some rentals come with a designated parking area or parking spot(s). If you plan to live with a roommate and you both have cars, are there enough parking spaces to easily accommodate both of you? When there are not enough parking spaces or tandem parking, roommates will often switch off week to week or find another acceptable compromise. If the apartment complex does have parking spaces, be sure to ask if this comes at an additional cost. Parking fees are becoming increasingly common at rental properties. 

On the other hand, many apartments don’t come with parking, especially in bigger cities like New York City or San Francisco. In this case, pay close attention to the street parking. The street parking signs will tell you which days or times of day parking is limited or prohibited (usually for street-sweeping or snow plowing). But you should also note how many parking spaces are free on your street— is there plenty of room or are cars packed bumper to bumper? Streets with cars parked close together usually mean that parking is difficult to find. 

6. Know the best time of year to rent an apartment 

You can’t always control when you need to move, but if you do have flexibility, choosing the right time of year to rent an apartment could have a large impact. If your main concern is price, you’ll want to look for an apartment during the winter months. Typically, most people move in the summer months (college students moving away from home, etc.), so demand and prices are typically highest during this time and lowest in the winter. Keep in mind that while rent prices may be lower, there might not be a large selection of apartment complexes with availability. 

On the other hand, if your ideal apartment is your top priority, then moving during the summer may be a better option. Most renters sign 12-month leases in the summer. Therefore, most leases usually also end around that time. This means the highest number of new apartments are coming on the market, so you’ll have plenty of options to choose from. The main downside here is that rent prices will typically be higher, and you’ll need to act fast before the best apartments are off the market. 

7. Thoroughly read and understand the lease agreement

As a first-time apartment renter, reviewing your lease agreement is one of the most important steps to getting your apartment. Though the lease may contain complex language, it will outline the most important agreements you’re making by signing it. Here are a few things you should make a note of:

  • The length of your lease
  • The pet policy and any special terms (like additional fees)
  • Deposit requirements and how your deposit is returned
  • Sub-letting rules
  • Utility responsibilities
  • Maintenance procedures
  • Liens or claims to your property if you don’t pay rent

When in doubt, having your lease reviewed by a landlord-tenant attorney is a great idea. The attorney will be able to catch any illegal provisions, explain how provisions work, point out unfavorable provisions and their consequences, and suggest changes that provide you with a more favorable lease.

8. Get renters insurance

In many cases, carrying renters insurance may be required by your landlord, especially if you’re a first-time apartment renter. Even if it isn’t, it’s still a good idea to have it – regardless of if you’re a long-time tenant or a first-time apartment renter. A renters insurance policy protects you in three significant ways:

  • Personal property protection: If someone steals, damages, or destroys your personal belongings, you will receive a payout (minus the deductible). 
  • Personal liability: If someone gets hurt in your home, renters insurance will pay for medical bills and lost wages, depending on the terms of your policy. You may also be covered if you end up in a lawsuit. 
  • Loss of use: If your apartment becomes uninhabitable, loss of use coverage pays for your expenses, up to coverage limits, while you live outside your home. 

Always be sure to review your policy carefully. It’s a good idea to create an inventory of your personal belongings so that you both have a record of what you own and ensure your coverage limits are high enough to protect you in the event of a total loss. If you are unsure about any part of your insurance policy, speak with your agent. 

A final note on renting your first apartment 

Searching and finding a perfect apartment rental requires some diligence, patience, and preparation. By following these tips, you can avoid possible pitfalls and make your apartment hunting process as seamless as possible, especially if you’re a first-time apartment renter.

Source: redfin.com

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When it comes to picking an apartment or home, you have options. You have options in terms of style, location and even building material. Whether you’re looking for a largescale studio loft or a beautiful old brownstone, every option comes with its own unique set of advantages and disadvantages.

Below is a breakdown of the basics of living in a brick building. From common questions to maintenance expectations to safety features, price and everything in between, this article should cover any issues you encounter and help you decide if a brick building is right for you.

Brick suits all styles

Whether you’re a minimalist who wants nothing more than pristine white walls and clean sight lines or you’re more of a traditionalist with your eye on something overflowing with elegance and class, brick is versatile enough to not only fit your desired aesthetic but to enhance it, as well.

Brick is striking when it’s raw and untouched. Brick is beautiful when painted in a bright white or bold, deep black. It even looks good in small sections of the wall to add a little texture to the picture.

Natural light complements brick and warms up a dark and uninviting room. Long story short, brick can do it all. Use your creativity to unluck its full potential.

Brick is timeless

The first human-made bricks date back to 7000 BC. It doesn’t take an anthropologist to realize that appeal of brick is so much more than initially meets the eye. Brick has protected the human population from the elements for centuries. While the bricks of today are not the same as the bricks of yesteryear, there’s still something innate in the human psyche that connects to the brick aesthetic and finds a primal comfort in it.

In a more practical sense, brick is great for resale value. So, if you’re looking to sell your home or condo and buy yourself a new one, brick is always a good investment, regardless of the kind of abode you’re looking to buy.

Is building with brick eco-friendly?

Short answer, yes.

While bricks are not a natural resource, they’re made from natural materials. The primary of which is clay. Clay is abundant on Earth and, as of now, is in no danger of falling into a shortage anytime soon.

While the brick-making process does require the use of heavy machinery in a few steps, it’s still a process that’s widely considered eco-friendly in the building industry. That said, there are also a number of companies that have emerged over the past couple of decades that specialize in the creation of recycled bricks. These bricks are often made of a combination of sand and recycled plastics and can last as long as traditional bricks.

Brick is great at keeping the inside temperature separate from the outside. That means, if it’s hot outside, brick is going to hold your cool A/C air in and keep the hot summer air out. The same goes for cold weather, brick will hold the heat in your home more effectively than other materials while not allowing the cool air to seep in, either.

Are brick buildings fireproof?

Brick buildings are not fireproof. While bricks on their own are extremely fire resistant, when they’re combined together with mortar, they become less so. So, a brick building can still catch on fire and it can still burn. However, it will do so much more slowly than houses made of wood or other building materials.

In addition to being more resistant to fire than other building materials, brick also holds up better than much of its competition against severe weather. While brick does absorb some water during storm weather, it’s near-impossible for severe storm winds and rain to actually penetrate into the brick in any significant or damaging way.

While unexpected fires and city-stopping severe weather events are not overly common occurrences, they do still happen. Living in a brick building is a great way to curb your risk of being affected by something entirely out of your control.

How do termites and pests fare against brick?

Like fire and severe weather, brick is also great at protecting against pests like termites and even rodents. Termites can’t do damage to brick or concrete and, while they can slip through any cracks and get into the more vulnerable areas of your apartment, it’s much more difficult for them to do so than it would be in a wood-built apartment or home.

The same goes for rodents and other pests. Sure, if there’s a crack and they stumble upon it, they’ll get in. But, a solid brick build will prevent unwanted guests from creating their own entry to your home and inviting their friends to join in.

Is brick more expensive?

Does brick improve the value of your apartment or home? Yes. Does it also make the apartment or home cost more? Also, yes.

Brick, like other things in life, costs more than its lesser counterparts. So, while you’re paying more upfront to live in a brick apartment or home, you also save money down the line thanks to brick’s eco-friendly attributes and stronger overall structure than other building materials.

Does brick ever need repair?

On occasion, brick may need repair or, as the brick and mortar people say, “repointed.” “Pointing” is the outside section of mortar in between bricks. This is the most vulnerable section of a brick wall and, as such, will be the first place to show significant wear and tear.

That’s the bad news. The good news is that, on average, repointing is something that only needs doing every 25 to 30 years. So, if the brick in the apartment or home you’re looking at appears in good condition, odds are you’ll never have to worry about repointing or repair unless your moving in for the (very) long haul.

How can I hang pictures on my brick walls?

Along with being stronger and more difficult for predators to penetrate, brick is also more difficult for nails and screws to penetrate than the average interior wall. One way to get your pictures up and properly displayed on your exposed brick wall is to break out the power tools and drill directly into the brick. While this is effective, it can also call into question the structural integrity of the bricks and provide more opportunities for pests to infiltrate your walls.

Thankfully, we live in the modern world and every problem has a solution. And you can find that solution on the Internet. If you’re having a tough time finding an easy way to display your things on your brick walls, fear not. Simply look up “brick clips” and find the one that’s right for you. These cheap little gadgets make hanging pictures on brick walls a breeze and they don’t damage your bricks as much as nails or screws.

There’s real beauty in brick

Living in a brick home or building comes with its fair share of pros and cons. That said, the pros undeniably outweigh the cons overall. So, if you’re renting a home right now and deciding between that brownstone in the burbs and the cookie-cutter apartment downtown, we stay stick with the brick. But hey, it’s up to you.

A native of the northern suburbs of Chicago, Carson made his way to the South to attend Wofford College where he received his BA in English. After working as a copywriter for a couple of boutique marketing agencies in South Carolina, he made the move to Atlanta and quickly joined the Rent. team as a content marketing coordinator. When he’s off the clock, you can find Carson reading in a park, hunting down a great cup of coffee or hanging out with his dogs.

Source: rent.com

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A rental agent is your personal guide in the world of real estate rentals. While we often associate real estate agents with home purchases, rental agents specialize in helping you find the perfect apartment or house to rent. They’re the experts who know the rental market like the back of their hand, equipped with a deep understanding of local neighborhoods, rental trends, and available properties.

In this article, we’re diving into the world of rental agents and how they can be the game-changer you didn’t know you needed for your next living space. So, whether you’re a first-time renter or a seasoned tenant, let’s uncover how a rental agent can transform your search for your next apartment or house.

Should you use a real estate agent to find your next rental?

Using a real estate agent to find your next apartment or home offers many advantages that streamline the process and enhance your overall experience. These professionals possess in-depth knowledge of the local rental market, which can help them find  properties that align with your preferences and budget.

In highly competitive markets such as Los Angeles, New York City, Miami, and Boston, the role of rental agents becomes paramount in the quest to secure an apartment. However, it’s worth noting that rental agents are not exclusive to these larger cities; they are also present in smaller cities, offering valuable assistance to those seeking lease accommodations.

7 key ways a rental agent can help you

Navigating the rental market can be a challenge, but with a skilled rental agent by your side, you’ll have a seasoned expert to guide you. From finding the right apartment or house to handling negotiations and paperwork, here are the key ways a rental agent can make your renting journey a breeze.

1. Tailored property searches

A rental agent will curate a list of rental options that match your preferences, saving you time by presenting choices that align with your needs and budget.

2. Local expertise

With in-depth knowledge of the area, your agent will provide insights into neighborhoods, schools, transportation, and amenities, helping you make an informed decision.

3. Protection from scams

Rental agents prevent you from scams by verifying ownership, checking landlords, and ensuring legally sound leases, creating a safe rental process.

4. Schedule property viewings

Say goodbye to endless property visits. Your agent can schedule and coordinate viewings for you, ensuring you see the most suitable options without the hassle.

5. Communicate with landlords on your behalf

These agents act as intermediaries, communicating with landlords on your behalf to address queries, negotiate terms, and facilitate effective communication throughout the rental process.

6. Assist with lease negotiations 

Leave the negotiating to the pros. Rental agents are skilled at securing favorable lease terms, rental rates, and other terms on your behalf.

7. Help you through the application process

Through the application process, rental agents provide the necessary forms, explain requirements, and assist with document submission.

How much do you pay real estate agents?

The cost of a real estate agent for rentals can vary based on factors such as location, market norms, and the specific services offered. Typically, you can expect to pay around one month’s rent or a percentage of one year’s rent. So if you rent an apartment in Tallahassee for $2,000 a month, you could pay anywhere between $2,000 to $2,400 if the agent takes 10% of the annual rent. However, practices can differ from region to region, so clarifying the terms and fees with the agent before entering into any agreements is essential. Consulting with the agent or agency upfront will help you understand the cost structure and any potential fees associated with their services in your market.

Where can you find a real estate agent that works with rentals?

You can find agents through various channels. A common approach is to search on reputable real estate agency websites, where agents often list their specialties and contact information. Additionally, requesting recommendations from friends, family, or colleagues who have recently rented properties can yield reliable referrals. Ultimately, online research, word-of-mouth referrals, and attending local events can help you find an excellent real estate agent to assist you in your apartment or home search.

The bottom line

In a nutshell, rental agents are your go-to resource for a stress-free renting experience. They’ve got your back, whether it’s finding the right place, protecting you from scams, or handling all the paperwork. So, whether you’re on the hunt for your first apartment or your rental dream house, partnering with a rental agent could be the key to a smoother, safer, and simpler renting experience.

Source: redfin.com

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In our latest real estate tech entrepreneur interview, we’re speaking with Lucas Haldeman from SmartRent.

Who are you and what do you do?

I’m Lucas Haldeman, and I Co-Founded and serve as the CEO of SmartRent, an enterprise home automation company powering the intelligence behind 80,000+ smart homes in multifamily residences across the country. I’ve spent over two decades developing web-based technologies in the real estate space, initially as employee no. 18 at AllApartments.com (the first site to publish a national database of apartment communities online), and post-exit was with Homestore.com (now Move, Inc.) through a successful IPO. Prior to founding SmartRent, I served as Chief Technology and Marketing Officer of Colony Starwood Homes (NYSE: SFR), developing a custom platform that helped the business acquire, renovate, lease and manage more than 40,000 single-family homes in 12 states.

What problem does your product/service solve?

Despite the growing demand for and proliferation of smart home devices, multifamily communities haven’t had a way to appeal to renters that want that smart device connectivity in their homes, but are unable to invest in or own their own products due to the provisional nature of renting a home. Multifamily owners needed a solution that combined an enterprise and consumer approach, but most IoT platforms and products are too complex to properly implement.

That’s why we are revolutionizing the way rental properties manage their assets and market to their residents. Our goal is to make it easy for multifamily communities to offer their residents luxuries like smart home tech that previously only applied to single-family homeowners. Residents enjoy the advantage of having smart devices in their rental home with full control over them, while property managers and owners have peace of mind in knowing their assets are protected and are notified of issues (like a leak) before they become a catastrophic, costly event.

Our platform has also solved a lot of problems property managers face today. Properties no longer have to worry about using or losing physical keys and instead have the ability to assign digital access codes for things like maintenance work orders, vendor access, prospective resident self-guided tours and more. Simply put, our platform saves time and money for property owners as well as creating a new revenue stream for them, and a heightened living experience for their residents.

We do all of this with a focus on security and privacy, so residents can enjoy an upleveled experience without worrying about compromising their privacy. We never sell customer data to third parties and property managers only have access to information that would impact their assets, like leaks or thermostat issues. Consumer behavior will always remain private so renters can enjoy the benefits of a full smart home ecosystem without worrying about their security or privacy.

What are you most excited about right now?

I’m most excited that we’re bringing the benefits of smart home technology to people who have been traditionally excluded from utilization – our clients run the gamut from luxury apartments to affordable housing, but all are rentals. And renters simply have not been able to fully experience a full smart home ecosystem until now. I’m eager for what this holds for the future, and how these multifamily properties can evolve to support how we live our lives today. Helping to bring the population of 43 million renters in the US into the next era of living — which includes full-fledged smart communities and amenities for seamless transactions in the on-demand economy (rideshare pickups, food and package delivery) — is exciting for us.

What’s next for you?

SmartRent had a big year of growth in 2019 — we announced our Series B followed shortly by an extension from the Amazon Alexa Fund, rolled out a self-guided tour solution and launched our Alloy Fusion Hub, which serves as the center of the smart home ecosystem. We also recently became the first smart home vendor to integrate with the four top property management systems. We’re excited to continue this momentum into the future, offering new and existing customers new technologies and conveniences to simplify residents’ lives, streamline property managers’ jobs and increase revenue for property owners. Top of mind for us are appliances with predictive maintenance, like leak sensors that can shut off a valve before a flood even begins and HVAC units that connect to utility monitoring services that help monitor meter levels, or sensors in connected common areas so residents can determine things like open parking spots or available gym equipment before arriving.

What’s a cause you’re passionate about and why?

In conjunction with my career in real estate I have always felt strongly about supporting organizations helping all people find suitable housing; more recently as I have watched (and hopefully been an advocate) as my partner has moved from breast cancer victim to breast cancer survivor I have become passionate about finding a cause and a cure.

Thanks to Lucas for sharing his story. If you’d like to connect, find him on LinkedIn here.

We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).

Source: geekestateblog.com