For Renters Competing in the Rental Market

Apr 18, 2017
If you want to rent a property, you have no doubt found the experience to be a bit frustrating. With limited inventory, you usually will be competing with other applicants. It’s tough for renters competing in the rental market.

Here are some pointers…


Time is of the essence. View the property and submit your application as soon as possible.


Include all required documents with your application (Last two pay stubs or last year’s tax return if you are self-employed and a copy of your ID)


Check your income (can be combined) to make sure you have at least three times the amount of rent in gross (before taxes) monthly income. Different markets vary, but typically in the Reno/Sparks area, we would like your rent not to be more than a third of your income. If you have a lot of debt, you will need more income to offset the debt plus your rent. Typically we like to see your rent plus debt to be no more than half of your monthly income. These are guidelines and can vary by circumstance.
Many application fees are non-refundable so if you have a pet, check with the property manager first to see if your pet will be allowed. Include a photo of your pet(s) with your application. If you have a biting breed dog, be prepared for some push-back. The owner’s insurance policy may not allow the owner to have a tenant with your breed. If you have a Service Dog or Emotional Support Animal, let the property manager know as your animal will be allowed with the proper documentation.

Be sure to include current contact information for your current and/or previous landlords. An email address is helpful as most rental history verifications are done in writing (emailed). Contact your current landlord if possible to let them know they should expect an email regarding your rental history.

If you have Renter’s Insurance, be ready to provide a copy of your policy. If you don’t have Renter’s Insurance, contact your agent. The owner’s policy does not protect your personal property against damages or theft. Renter’s Insurance is affordable – usually $15-$20 per month or less. It can also give you money to move if your rental becomes uninhabitable (fire/flood, etc.).

Check your credit report. I recommend Credit Karma www.creditkarma.com, where you can get information to contact any debtors you may need to get in touch with to pay off debt. If you have any debt to previous landlords, utility companies, cable companies, or phone companies pay those first. Those debts could very well create a denial of your application.

Many management companies will allow you to use your approved application for up to three months for any of their available properties to help you find a property if you lose out on your first choice. Stay proactive and create good communication with your prospective property manager. Our goal is always to assist you.

Please feel free to contact me /contact-us/ if you have any questions and best of luck in your home search.

Share this post

What's New With Rental Rates in Reno/Sparks

By Paige Hubbard • 15 Feb, 2020
Rental Rates in Reno Sparks NV

PERSISTENCE

10 Aug, 2017
If you saw the movie about McDonald’s Ray Kroc, “The Founder”, you probably loved it. It’s about that entrepreneurial spirit of getting it done and hanging in there despite what others around you are saying. And now, you’ve done it. You have created your real estate investment portfolio. I know that it requires a good mind, persistence, and hard work to get there. Congratulations. You invested your time and money. You deserve to have a positive experience as a real estate investor. Here are the items we as property managers are especially concerned about to protect your investments and allow them to PERSIST on to the next generation. Key Items of Effective Property Management Quality tenants through excellent screening practices Minimization of risk through sound leases and knowledge of property management laws Maintaining the property with best value vendors and regular property inspections Excellent communication to maintain positive relations for all parties Improved cash flow through analysis of market rents and scheduled rent increases Improved cash flow through the reduction of expenses and improving key features Utilization of technology for optimized customer experiences Speaking of persistence, I just achieved my Certified Property Manager (CPM) designation from the Institute of Real Estate Management (IREM). It took me seven years! Please give me a call if I can be of assistance for leasing services or full service property management. Thank you!

Kudos from Francis

07 May, 2017
I was looking for an apartment, and I stumbled upon Paige’s ad on craigslist. I called her and explained my time crunch situation with my lease ending in a few days, and she did everything in her power to get me moved in almost immediately. Hubb Realty is small so that I was able to get a lot of one on one time with Paige and she was able to pay attention to all my needs. I felt like a person, and not just a customer in my dealings with her. Oh, and everything is state-of-the-art, from the viewing process of the apartment, to rent payments. If you have internet, anything pertaining to her properties is easily accessible. If not, she is very personable and goes out of her way to meet your needs.
Show More
Share by: