Issue Date: August 31, 2008
MoneySmart |
SHARON EPPERSON |
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Get a rental deal
Know your specific market.
Ask a real estate agent to help you compare rents (based on price per square foot). Launch an exhaustive search at apartmentguide.com, forrent.com, apartments.com and rent.com, plus sites such as Facebook's Marketplace and Craigslist. Check local newspapers' real estate sections.
Weigh pros and cons of large vs. small, old vs. new.
Large apartment complexes may have more amenities, but will you really use the pool and gym? Owners of a small building may have more flexibility to negotiate, says L.A. landlord Hugh Siler. Older buildings with smaller room sizes and fewer upgrades can be cheaper. But many new building developers offer lower rents, at least initially, to get financing from lenders, says ApartmentExpert.com's Lisa Trosien.
Be ready to sign.
Bring a copy of your credit report and completed rental application when meeting with the landlord. Offer former rental companies as references. Following up with a note saying why you're a good tenant can put you ahead of others in a competitive market.
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