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Buying a house has generally been more expensive than renting, but that may not be the case anymore with skyrocketing rent prices. The good news is rent prices are increasing at a slower rate, which is a positive sign for renters. However, that doesn’t lessen the burden of covering a costly rent bill each month.
For that reason, we outline the different ways to save on rent when entering a new lease agreement or already in one.
How to Save Money on Rent in 2023
Rent can be one of the most expensive monthly bills you’ll be expected to pay. To reduce the financial impact each month, here are eight ways to save on rent.
1. Reduce Add-On Monthly Fees
If you’re already locked into a lease agreement, you can consider removing add-on fees from your monthly rental bill to save some money. This option is ideal if you have to wait until it’s time to negotiate a new rent price or move to a more affordable apartment.
Examples of these fees include parking or storage unit fees that range from $50 to $150 per month. If you no longer own a vehicle or have access to public parking, see if your landlord is willing to remove this fee for the duration of the lease. For the storage unit, consider selling the belongings if they’re no longer in use or necessary to have.
2. Pay Rent With a Checking Account
Rent collection platforms allow you to pay rent with a debit or credit card, but there’s a catch — they typically charge a processing fee that can quickly add up. For example, paying rent of $1,350 with a credit card that includes a 3.5% processing fee can add $47.25/per payment, totaling $567 annually.
However, some platforms waive processing fees when renters pay rent with a checking account. Knowing this, check to see what payment methods waive processing fees (if any) the next time you pay rent. That way, you have a general idea of what method to try using more (if able) to save on rent.
3. Research Online Sweepstakes for Renters
It’s no secret that rent prices are higher than they were several years ago. As a response, there are more opportunities to receive free rent through online sweepstakes and games, specifically for renters.
In fact, Realtor.com® recently launched the Great Rental Search Party — an online game of skill where one person can win daily prizes (selected at random) like a paid Netflix subscription ($120 value) or one month’s rent (up to $3,000 in cash value) anywhere in the US. Although the Great Rental Search Party has now ended, you can still visit Realtor.com® to help you find your next home.
4. Search for Apartments During the Winter
Rent prices are generally lower during winter due to the lower rental demand. If you’re flexible on your move-in date, try searching for apartments in December, January, or February to pay less rent than you would moving during the summertime.
5. Sign an Extended Lease
In most cases, landlords and property managers offer 12-month leases with the option to renew. However, you can commit to a longer-term lease like 15 months for a lower rent price. The longer the lease term, the more stability this offers the rental owner so they’re more open to reducing the rent price by a few hundred dollars.
This is a great option if you’re confident the rental property meets your needs and can provide a positive renting experience.
6. Get a Roommate
Having a roommate has its pros and cons, but it’s one way to save on rent by not having to cover the full amount. The key to a successful agreement is ensuring the roommate can afford the rent, has a positive renting history, and communicates issues in advance.
Before finding a roommate, check in with your landlord so they’re aware of your plans. The roommate may also need to complete a screening process before moving in, so it’s best to inform the landlord at each step. This is especially important considering you’ll still be responsible for the full amount of rent in the case the roommate can’t pay.
7. Rent Out an Extra Room for Short-Term Stays
An alternative to finding a roommate is rental arbitrage. This is when renters can temporarily rent out an extra room as a vacation rental on platforms like Airbnb or for short periods of time (generally less than three months).
However, this option requires careful consideration since there can be laws on short-term rentals, as well as limitations outlined in the lease. Firstly, review your lease agreement and talk to your landlord before pursuing rental arbitrage. If allowed, this can be a great way to generate additional income each month that can go towards your rent.
8. Move to a Different Neighborhood
Not all neighborhoods have the same rent prices for certain types of rentals. Some neighborhoods can be more affordable than others. With that in mind, research different neighborhoods that offer your ideal apartment, but at a lower price than your current location.
Food for thought: Neighborhoods closer to downtown cities tend to cost more than suburban neighborhoods.
Find Available Rentals With Ease
With rent prices continuously rising, putting more income towards one bill can be stressful. With these tips, you can find ways to save on rent and have a positive renting experience without the hefty price tag.
*No purchase necessary. See Official Rules.
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Finding a new apartment can be exciting unless you’re having difficulty getting approved for an apartment. There can be various reasons for this — like a competitive market or not meeting the landlord’s requirements — but the good news is there are ways to increase your chances of getting approved for your dream apartment.
Keep reading to learn what information to prepare as a renter and how to get your application in front of landlords in minutes.
Is It Hard to Get Approved for an Apartment?
Getting approved for an apartment can be easier than for a mortgage, but this also depends on the landlord’s requirements. If the landlord requires a credit score over 600 and three times the rent in income to qualify for the apartment, it can be harder to get approved if you don’t meet the criteria. On the other hand, other landlords may only require proof of income and a background check authorization.
If this is your first time applying for an apartment, it’s best to look for apartments within your budget and practice great credit habits to improve your credit score.
New to renting? Here are 10 first-time renter tips to keep in mind as you search for your next apartment.
5 Ways to Improve Your Chances of Getting Approved for an Apartment
Increase your chances of getting approved for an apartment with these five tips.
1. Check Your Credit Score
Many landlords check for credit scores during the screening process, so it’s important to know where yours currently stands and the factors contributing to it. Landlords generally require a minimum credit score of 629, but this can vary. If you discover your credit score is below 600, your credit report can let you know what to focus on to continue increasing your score. This can be making on-time payments for a set time, reducing utilized credit, or limiting hard inquiries.
To check your credit, you can visit sites like annualcreditreport.com for a free copy of your credit report from the three nationwide credit bureaus you’re entitled to every 12 months. You can also visit sites that offer your VantageScore and FICO® for free. However, not as many landlords may check those scores, so make sure to know what your actual credit score is.
2. Prepare Important Documents
Applying for an apartment often requires gathering important documents on your finances and rental history. Here are some examples of documents you’ll need to provide:
- Work history: Prepare to provide up to five years of employment history and the contact information of your employer for verification. If your previous employers require landlords to complete a certain process to verify your time there, communicate this to the landlord beforehand.
- Credit references (if required): Providing a credit reference may be beneficial if you have a credit score of less than 629. Credit references can be a great way to show your trustworthiness and your ability to make on-time rent payments.
- Pay stubs or tax forms: To verify your income, landlords may ask for two recent pay stubs that list your employer, how much you’re paid, and your position at the company. If you’re self-employed, they generally require tax forms like a W2 or 1040 instead.
- Bank Statements: While landlords don’t request bank statements as often, it’s best to have two recent statements on hand in case they do. This shows a holistic view of your monthly income, which could be helpful if when self-employed or a freelancer.
- Pet resume (if applicable): If you own a pet, landlords may request a pet resume that outlines the pet’s breed, age, and vaccination history.
- Photo ID: Requesting a photo ID is standard to prove who you are.
- Social security number (SSN) or individual taxpayer identification number (ITIN): As a renter, you may need to authorize tenant screening reports with an SSN or ITIN. If you don’t currently have either, talk with the landlord to know what to provide to still apply for the rental.
- Landlord or personal references: Landlords may request your previous landlord’s contact information to ask them about their rental experience with you, so make sure to gather this information in advance. It’s also important to know if they have a certain process for landlord reference checks to tell the new landlord.
- Offer letter or a university acceptance letter: If you cannot provide financial statements like pay stubs or a bank statement as a student, provide an offer letter of a new job to prove your employment or a university acceptance letter.
3. Create a Renter Profile to Share With Landlords
When apartment searching, you may have to apply for more than one place to find your next home. This process can quickly become tedious considering it takes time to fill out the same information multiple times.
To save time, you can create an Avail Renter Profile that allows you to provide the information often required on applications with important documents and tenant screening reports for a one-time fee. Renter profiles can also help limit credit checks by landlords, which can negatively impact your score with too many hard inquiries.
The great news is that some states require landlords to accept renter profiles if presented with one. In that case, having one can be a great way to get your application in front of the competition, limit credit checks, and have control over your information during your apartment search.
4. Find Apartments Within Your Budget
Landlords generally look for tenants that can afford the rent price, which should be one-third of your monthly income. Not all landlords use this requirement, but finding apartments that won’t break the bank is a good benchmark. Once you’ve determined what’s within your budget, explore an apartment-hunting app like Realtor.com® that allows you to filter listings by rent price, your preferred location, amenities, and more.
Filtering listings can also let you know your options within that price range, and if you need to slightly alter your criteria (location, price, amenities) to find options you want to view and apply for.
5. Find a Co-Signer or Guarantor
There may be instances where you’ll need a co-signer or guarantor to get your application approved. Both are considered someone willing to take on the financial responsibility of covering rent payments if you cannot.
This step may not be required if you believe your renter profile is strong enough to get approved. But if the opposite is true, then find someone willing to sign the lease to get your application approved.
What Landlords Are Looking for in Prospective Tenants
Each landlord can vary in what they’re looking for in tenants, but generally they want someone who can pay rent on time each month, take care of the rental property, and communicate any issues promptly. For that reason, practice positive financial and renting habits to increase your chances of getting approved for an apartment.
Pro tip: If you have been late on a payment or had a hiccup with a previous landlord, talk to the new landlord about the issue to share your side of the story.
Share Your Application With Landlords
Different steps in the apartment search process can add stress to your plate, but creating a renter profile can be one way to make it easier.
Create an Avail account to complete your rental history, upload important documents, and add screening reports for a one-time fee. You can then provide landlords with your renter profile with a link and take access away once you’re no longer interested in a rental property. Get started with Avail today.
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If you’re searching for your next home, you’ve probably come across both house rentals and apartment rentals. Both options have similarities, but they also have notable differences to know of as you filter through available rentals. If you’re unsure as to which type of rental to choose for your next home, we outline everything you need to know to help you decide.
Keep reading to learn more about how renting a house versus renting an apartment differ from each other, the pros and cons of each option, and where to look to increase your chances of finding your next home.
The Main Difference Between Renting a House vs. an Apartment
House rentals generally offer more space, privacy, and have an affordable rent price compared to an apartment. Apartments, on the other hand, offer convenience, great amenities, access to on-site staff, and more security than a house.
There may be additional differences in how they’re managed depending on the landlord or property management company, but the main difference is the amount of available space, the average rent, and available resources to help with sudden issues.
The Pros and Cons of Renting a House
Renting out a house offers a handful of advantages that an apartment can’t. However, there may be some disadvantages to be aware of that can impact your renting experience.
Pros of a House Rental
- More space: Houses generally have a higher square footage than an apartment and condo, as well as a garage or basement. The additional space also comes with reasonable price tags compared to apartments located in popular cities.
- More privacy: Living in a house offers more privacy, as you won’t have to worry about other renters or use an elevator to get to and from your home. Houses also reduce the chances of dealing with noisy neighbors or running into other pet owners if you own pets yourself.
- Rent-to-own potential: In some cases, landlords may be open to pursuing a rent-to-own arrangement where you can buy the property from them to permanently own. This can be especially helpful if you’re planning on buying a home, but need more time to build your credit or save for a down payment.
- Rent out individual rooms: If you own a house rental with an unused room, you can consider rental arbitrage, which is when renters rent out a room as a vacation rental on Airbnb or a short-term rental. However, this may need to be approved by the landlord first.
- Fewer pet restrictions: While landlords can still restrict whether or not pets are allowed, they may not have as many restrictions on breed or size as apartment buildings.
- Free parking: Most houses come with a driveway or free street parking for you and your guests, unlike apartment buildings that often charge a one-time or monthly parking fee.
Cons of a House Rental
- Larger space to clean: With larger spaces comes more time spent maintaining the space and keeping it clean.
- Less access to maintenance crew: In most cases, apartment buildings have an on-site maintenance staff that can help with sudden requests. However, that may not be the case when renting a house. You’ll need to notify your landlord of the maintenance issue and wait for them to resolve the issue themselves or with the help of a contractor.
- Limitations on how to use outdoor space: Even if a house has a backyard space or garage, your landlord can put limitations on how to use the space. They may restrict random objects like a trampoline from being in the backyard or what you can store in the garage.
The Pros and Cons of Renting an Apartment
Renting an apartment offers convenience with on-site staff and amenities such as gyms, laundry rooms, and pet areas.
Pros of an Apartment Rental
- Convenience: Most apartment buildings offer convenience that a house cannot. For example, they can have on-site staff that can help with various issues.
- Amenities: Apartment buildings can have gyms, workstations, outdoor seating, and pet areas (if allowed).
Cons of an Apartment Rental
- Higher rent price: Rent prices are at an all-time high, meaning you may have to pay more in rent to live in an apartment — especially if you’re looking to rent in a popular city.
- Less privacy: There are multiple renters that can live in the building, which can result in less privacy.
- Pet restrictions: Some apartment buildings may put weight restrictions on pets and not allow large pets.
- Costly parking: They can charge a one-time fee or monthly fee for parking in a garage or in a parking lot. The charge can be anywhere from $50 to $200 per month.
- Noise complaints: Since there are more residents that can live in the building, there’s a higher chance of having a noisy neighbor.
Where to Find Houses and Apartments to Rent
Whether you’re planning on renting a house or an apartment, the key is knowing where to look for the best options that meet your criteria. There are several apps to choose from, but some of the top rental sites that can help you find your next home are:
- Realtor.com®
- Zillow Rentals
- Trulia Rentals
- Apartment List
- Apartments.com
- HotPads
- Zumper
- Rent.com
- Apartments by Apartment Guide
- Apartment Finder
- RentCafe.com
Increase your chances of getting approved for your dream home with these first-time renter tips.
Is It Better to Get a House or Apartment?
The answer to whether it’s better to get a house or an apartment will depend on what you’re looking for, if you plan on having roommates, and want a good deal on a rental. If you’re looking at specific neighborhoods to live in, this decision may also be impacted by what’s available. Some locations may have more houses available than apartments and vice versa.
If you’re unsure of what to look for, you can use rental apps like Realtor.com® that show rental listings that can be filtered by desired move-in date, pet-friendly rentals, rent price, bed and baths, location, and which are still accepting applications. To save on application fees and limit credit checks, you can create an Avail Renter Profile that makes it easy to upload your residential history, employment and income, and more to easily share with multiple landlords.
Save Time and Money With a Renter Profile
Determining whether to rent a house or an apartment can be influenced by what’s available in a competitive market, but both options offer their pros and cons. It’s with this knowledge that you can determine which makes the most sense for you and fits within your budget. Once you’ve found a few options you’re interested in, you can share your Avail Renter Profile to have control over your personal information, limit credit checks to protect your credit score, and save on application fees if applying to more than one place.
Create an account to get started today.
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Apartment hunting is a daunting process. From browsing rental apps to planning your move, it’s easy to let vital information that can impact your renting experience fall through the cracks.
Knowing the right questions to ask when apartment hunting can reduce this from happening, which is why we created a checklist of what to look for while apartment hunting.
What To Look For When Apartment Hunting
Here are seven details to look out for when apartment hunting to ensure you find the right place for you.
1. How Much Rent Is
Understanding your budget is essential when apartment hunting, as this will help you stay prepared to afford renting-related expenses. During an apartment showing, confirm the rent amount before agreeing to rent the property to ensure it’s within your budget.
You can also benefit from verifying any additional fees landlords may require that can add to the total cost of renting. Does the landlord require a security deposit or move-in fee? Are utilities included in the rent cost or considered a separate charge? Is renters insurance required?
The answers to these questions can provide a better understanding of what your monthly renting expenses would be.
Discover eight ways to save money on rent this year.
2. How the Apartment Is Managed
Knowing how the apartment is managed can simplify resolving issues as they arise. Does the landlord handle concerns themselves or with a property manager? Do they handle maintenance requests right away? In most cases, a well-organized landlord or property manager will likely use property management software or processes to make renting easier.
An unorganized landlord is often difficult to communicate with, more likely to forget maintenance tickets and can make the renting experience harder overall.
3. Is the Apartment Safe and Secure?
Your next home should prioritize safety and security, especially if you’re living on your own. Bring up any security concerns you may have during property showings and before signing a lease to see if the apartment is in a safe area. Asking the following questions can also help you understand whether the apartment is a good fit:
- Are there security features in place? This could include door attendants, a keypad, cameras, and more.
- Have any crimes, such as break-ins, assaults, or theft, occurred in the past year?
- Are the smoke and carbon monoxide detectors working and regularly tested?
- Have there been previous reports of mail or packages being stolen?
Additionally, it may be worth asking general questions about the neighborhood and if there have been any noise complaints in the past especially if the apartment is near a major road or train station.
Depending on the dwelling type, there may also be local landlord-tenant laws on safety landlords need to abide by, which can be helpful to know while hunting for your next apartment.
4. How the Apartment’s Condition Is
Inspecting the apartment’s current condition can eliminate future confusion between yourself and the landlord. Consider these notes as you’re touring the apartment for the first time.
- Can the landlord identify the difference between normal wear and tear vs property damage?
- Is there any obvious damage to the walls, windows, and floors?
- Are the installed appliances functioning correctly?
Ideally, a landlord will complete a rental property walk-through once the previous tenant has moved out to track property damage. Still, paying attention to these details can keep you from forfeiting your security deposit for damage that wasn’t your fault.
5. How Maintenance Requests Are Handled
Throughout your tenancy, maintenance needs are bound to arise. Submitting maintenance requests to the landlord or property manager should be a straightforward process in most cases. As you search for your next apartment, keep the following details in mind:
- Does the landlord make it easy to submit a maintenance ticket?
- How long does it take for them to respond to maintenance requests?
- Are you able to stay updated on the status of your request?
A good sign is the use of rental property management software, which can include features like a maintenance portal. With Avail, renters can use this tool to get maintenance tickets submitted from any device. With everything in one place, you can communicate directly with your landlord and track the resolution process from the application. If they currently don’t have a process in place, you can invite your landlord to Avail to use our maintenance tracking software.
6. If Amenities Are Included
It’s important to know what amenities are available at the apartments you’re considering. This includes anything from kitchen appliances inside the unit to access to other resources on the property. Here are some things to consider:
- What appliances are available to renters?
- Does the unit have an outdoor space like a balcony or patio?
- Is parking available?
- Is there access to fitness facilities like a gym or pool?
- Are additional storage spaces available?
Amenities can make or break your renting experiences. Knowing what’s available can help narrow down your choices, and ensure you aren’t applying for an apartment that doesn’t suit your interests.
7. What the Lease Terms Are
Before signing the lease, be sure to thoroughly review the details. Leases are legally-binding agreements, and knowing what you’re agreeing to can help you avoid issues in the future. These are a few key items you should look out for when reviewing your lease.
- Lease duration
- The current rent rate
- Which utilities are included in the rent
- Late rent payment policy
- What furnishings come with the unit
- Breaking the lease policy
- Policies on pets and ESA animals
- Additional rules and clauses
If you notice something that isn’t addressed, you can bring it to your landlord’s attention prior to signing the lease.
How to Save on Application Fees
During your search, you may find a number of apartments that tick all the boxes of your apartment hunting checklist. With an Avail Renter Profile, you can forgo the stress of expensive application fees and multiple credit check hits. Compile relevant information on your residence history, employment history, income verification, and more. You can even add a credit check, background check, and eviction report for a one-time fee.
Once you’re ready to share your information you can send them an email through Avail, or use a shareable link to send your tenant profile to any landlord. Some states require landlords to accept renter profiles during the application process, but refer to local landlord-tenant laws to confirm. Rest assured that your info will remain secure, and you can revoke access to your sensitive information with one click.
Simplify Apartment Hunting With Avail
If you’ve completed your checklist and found an ideal option for your next apartment, make your application stand out from the competition by creating an Avail Renter Profile. Pay rent online, report on-time rent payments to TransUnion, submit maintenance tickets, and more using Avail.
Create an account or log in today to get started.
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Finding rentals that meet your criteria is one step, but getting your application in front of the competition is becoming a common part of the apartment search process. There are a few ways you can increase your chances of landing your preferred rental in a competitive market, including by creating a rental resume that shares an overview on who you are, your renting history, and more.
In this article, we outline what a rental resume is and how to easily create one yourself.
What Is a Rental Resume?
A rental resume is similar to a resume you’d create when applying for a new job that gives landlords an overview of who you are, your rental history, income, and employment. While it’s not common for landlords to request a rental resume, providing one to a landlord can help you stand out in a competitive market and show you’re serious about renting their property.
What to Include in a Rental Resume
Unlike traditional resumes, rental resumes are intended to include relevant information on your rental history, how much income you make, and where you currently work. You can customize your resume to your liking, but it should generally include the following sections.
1. Your Contact Information
As a best practice, include your contact information at the top of the document for the landlord to find. Your phone number, email address, and current address should be in an easy-to-find spot on the document for the landlord to see.
2. The Type of Rental You’re Looking For
Adding an objective section is optional and can highlight the type of rental you’re looking for, if you own any pets, or other factors the landlord should be aware of. You can also mention your desired price range for rent, but most renters are advised to only apply to properties they can afford. Here’s an example of an objective statement to include:
“I am looking for a one bedroom and one bathroom rental property that offers a 12-month lease term option. I’m currently based in Downtown Houston, but I’m looking to relocate to the north suburbs for my current employment. I own one pet, a cat named Sunshine, that has all of her vaccinations and is registered with the city. I have a strong history of making on-time rent payments and always escalate maintenance issues right away.”
3. Your Background
Your background section should quickly inform the landlord on who you are, your rental background, a brief description of your employment history and if you’re currently a student. There are other pieces of information you can also add (like hobbies you enjoy), but it should be relatively brief with important details that relate to renting.
4. Your Current Employment and Income
During the rental application process, the landlord will most likely request information on your employer and income. A rental resume will not replace an online rental application, but it can give the landlord an idea on your employment history and if you meet the income requirements. As a reminder, most landlords require you to make at least three times the rent, so you’ll want to ensure you meet the criteria before submitting an inquiry.
Landlords will also want to verify the information you provide is correct, so it may be helpful to include your supervisor’s contact information if they’re okay with it. Since rental resumes are one page, most renters include their current employer only.
5. Your Rental History
Your rental history consists of previous properties you rented individually or with roommates. You can highlight the lease start and end date, the landlord’s contact information, how much you paid in rent, and why you left the rental.
If you were previously evicted or needed to break the lease, you can also include more information on both types of incidents to help the new landlord understand what happened.
6. References
The reference section can include a landlord reference, a credit reference, or a character reference to speak on your behalf. Including references could be beneficial if you have a short renting history or are unable to authorize screening reports with a social security number (SSC) or individual taxpayer identification number (ITIN).
However, it’s best practice to only include people or credit institutions that are willing to speak with the landlord.
7. Additional Documents You’re Willing to Provide
Documents you can attach to your rental resume can be landlord letters of recommendation, bank statements to verify your income, or pay stubs. These documents can be whatever you’re comfortable with sharing or feel can strengthen your rental resume.
Create an Avail Renter Profile
Applying for a new rental property can be stressful, but a rental resume can be a simple way to help you stand out from other renters. Once you’re ready to begin the application process for a certain rental, you can create an Avail Renter Profile to share with multiple landlords at once.
Not only does a renter profile save you money on application fees, but you can revoke access to your information once you’re no longer interested in the property. You can add a TransUnion credit report, background check, or eviction report for a one-time fee and share with landlords via a link.
Create an account to start inputting your rental history, supply employment and income information, authorize screening reports, and more.
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Renting an apartment for the first time is an exciting and stressful process to handle on your own, especially in a competitive rental market. But there are ways to prepare for your first apartment search to ensure you find a great rental that fits your budget and meets your needs.
Keep reading to get expert tips on renting an apartment to help you navigate the process on your own.
10 Tips for Renting an Apartment for the First Time
To help you along the way, we outlined ten helpful first-time renter tips to keep in mind as you search for listings online and secure your first rental.
1. Determine How Much to Budget for Rent
First, determine how much you need to budget for rent and other renting-related expenses like utilities, parking fees, or pet fees. There are two widely accepted rules when it comes to budgeting for rent, including the 30 percent rule and the 50-30-20 model.
The 30 percent rule advises renters to avoid paying more than 30% of their monthly adjusted income in rent to have money left over for other expenses. While this model is still practiced, it’s sometimes considered an outdated way of budgeting for rent. That’s why it may make more sense to use the 50-30-20 model, which means 50% goes towards fixed expenses like your monthly bills, 30%is used for miscellaneous expenses, and 20% goes to a savings account.
Some landlords require renters to make at least three times the rent price, so this can also be a way to determine which rentals you qualify for. The key is finding a rental that you can afford and doesn’t require spending too much on rental-related expenses each month.
2. Identify What Amenities You Need
It’s important to determine what amenities you want in a rental since you’ll likely be living in the unit for 12 months or more. Apartment amenities consist of features or services that renters can use while occupying the unit. Amenities can be in the apartment itself or accessible in the building, like a gym or parking garage. Rentals that allow pets may also include pet-friendly amenities, such as pet runs or a backyard.
3. Create a Renter Profile
Many renters can agree that the home search can quickly add up with multiple application fees and credit checks from various landlords. To avoid that from happening, you can create a renter profile that includes all the information landlords typically request on a rental application and certain screening reports for a one-time fee.
An Avail Renter Profile is easy to create — once you create an account, you’ll be asked to add your residence history, work history, income verification, standard application questions, and screening report authorization. You can also add a credit check, background check, and eviction report for a one-time fee.
Once your profile is complete, you can share it through a link or email it to a landlord. Not all states require landlords to accept renter profiles, so it’s important to check your state rental laws to confirm before creating a profile of your own.
4. Visit Apartment Hunting Websites to Find Rentals
There are multiple apps for apartment hunting that offer rental listings with current information on each unit and allow you to filter listings by price, property type, bed and baths, your desired move-in date, pet-friendly rentals, and more. Some apps will also let you know if certain rentals are no longer accepting applications or available to rent.
5. Schedule In-Person Property Showings
Apartment hunting websites now make it easier to virtually explore properties through 3D tours and virtual property showings. But it’s important to schedule in-person property showings with the landlord to get a closer look at the quality of the rental and explore the neighborhood it’s located in.
In-person property showings also present a great opportunity to ask the landlord your questions about the property, their rental application process, their rules on decorating the apartment, and how deliveries are handled.
6. Research Your Renters’ Rights
All renters should be well-informed on renters’ rights to know what landlords are allowed (and not allowed) to do. Examples of rights you have as a renter are the Right to Fair Housing (established by the Fair Housing Act of 1968), rights on how security deposits should be handled, and the right to privacy, just to name a few.
States also have additional laws regulated at the state level, so the more informed you are, the less likely your rights will be violated without your knowledge.
7. Read Through the Entire Lease Agreement
As a first-time renter, it’s important that you read and understand your lease agreement before signing the document. You’ll want to ensure the information on the rental listing aligns with the lease agreement and what the expectations are when living in the rental property. The lease agreement should also include the landlord’s contact information in case you need to reach out to them at any point.
Once you’ve signed the lease, storing the document in an easily accessible place can help you reference the lease when having questions on how to escalate maintenance, pay rent, and other renting issues.
8. Get Renters’ Insurance
Many landlords require renters’ insurance to protect your belongings in case the property is damaged or destroyed. The typical renters’ insurance policy defines under what events your belongings are covered and which belongings are covered.
Most insurance providers also suggest adding a pet policy if you own one or more pets, as this can provide additional protection during the lease term.
9. Take Pictures of the Rental Before Moving In
Before moving into the apartment, take pictures of each room in the rental. Ideally, renters are advised to take photos once getting the keys to the rental and before moving in their belongings.
If you find issues with the flooring, the doors, or any other parts before moving in, then taking pictures can act as proof that you did not cause the damage while living in the unit.
10. Report Rent Payments to a Credit Bureau
Rent will most likely become your biggest expense, and thanks to platforms like Avail, you can now report on-time rent payments to TransUnion for $3.95/per reported month with CreditBoost*. You can contribute to your FICO 9, FICO XD, and VantageScore with CreditBoost, making it easier to build your credit while renting your first apartment.
You’ll need to invite your landlord to collect rent with Avail, but this is easy to set up and provides tons of benefits they’ll love. States like California also require landlords to allow renters to report rent payments to a credit bureau, so using Avail offers benefits to both parties.
Save on Application Fees With a Renter Profile
Renting an apartment for the first time doesn’t have to be stressful or expensive. With these 10 tips on renting an apartment, you can easily start the process of finding your new home on a good note that leaves you feeling well-prepared and confident.
To help you save on application fees and limit credit checks, create an Avail Renter Profile for free to share with multiple landlords in minutes. Visit Realtor.com® to find available rentals near you.
*CreditBoost results may vary by individual.
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While it may seem like finding your next apartment is easy to do, a competitive market and rising rent prices can make the process more complicated. Using rental apps to view available rentals can be one way to simplify the process, but which apps for apartment hunting are the best? Keep reading to discover the best rental apps and ways to save on application fees as renters.
What Are the Best Apps for Apartment Hunting?
Each rental app can vary in the types of rental listings available and filtering capabilities. Here are 11 options to consider using during your next home search with information on how they differ.
1. Realtor.com®
Realtor.com® is one of the top websites for house hunting, but the platform can also help you find available rentals. Filter rental listings by price, property type, bed and baths, your desired move-in date, pet-friendly rentals, amenities, or with specific keywords (pool, basement, waterfront) to be more specific. Realtor.com® also allows you to filter out listings no longer accepting applications to save you time and effort during your search.
Once you’re ready to inquire about a rental property, you can email the property owner directly to schedule a property showing in person or virtually. If you’re planning on hiring professionals to help you move, you can get a moving cost estimate and a free quote for how much the move will cost at the bottom of each listing.
2. Zillow Rentals
The Zillow Rentals app allows you to personalize your search to find rentals that fit your price range, offer your desired amenities, and allows pets on the property. Each listing answers frequently asked questions about the rental, from the walk score to what schools are assigned to the rental’s area. Access information on local legal protections for the LGBTQ community at the state level to inform you of your rights.
If you’re curious about the rent price of a rental, Zillow offers a Rent Zestimate history that shows an estimate of how the rent price may have changed annually. The rent estimate can give you an indication of whether or not the landlord will increase the rent price once the lease expires.
3. Trulia Rentals
Trulia not only shows available rentals online, but the app can also save you time inquiring about rentals with their 1-Click Request feature — a feature that allows renters to complete their information once to share with multiple landlords. See what locals have to say about the neighborhood each rental is in to determine if the location is a right fit.
4. Apartment List
Apartment List requires renters to complete a form on what type of rental you’re looking for, your budget, desired location, amenities you prefer, and more. Your answers will influence which rental listings populate for you and can be filtered by rentals that offer all of your features, are located in your desired location, or have the cheapest price. You can approve or reject your options and favorite properties you’re interested in viewing in-person or virtually.
5. Apartments.com
The Apartments.com app makes it easy to find rentals available in real-time that can be filtered by price, amenities, reviews, and more. If you’re curious about the pet requirements, you can see if pets are allowed for each rental and if there are any limitations to be aware of. The bottom of each listing includes a map view of the property to show you nearby schools, restaurants, groceries, coffee shops, banks, shops, and fitness centers. The map view can help you see how far rentals are from important locations or highways.
Once you’re ready to schedule a property showing, you can easily connect with the property owner or ask them questions in-app.
6. HotPads
Hotpads is a great option if you’re looking to view properties virtually, through 3D tours, or a conference call with the property owner. In addition to in-depth details on the rental, you can use the 3D tour tool to see the overall layout of the property and determine if it’s right for you.
Finding an apartment in a competitive market can be stressful, but HotPads outlines how many renters have viewed the listing and contacted the property owner for next steps. If you find a rental you like but the competition is high, it can be easier to find alternatives in case the rental is taken by another renter.
7. Zumper
Zumper can be filtered by long-term rentals, monthly rentals, or vacation spots for stays less than 30 days. Quickly see the details of each rental, as well as rent trends based on similar properties in the area. The app provides detailed guides on major cities that outline everything renters need to know about the area.
In partnership with TransUnion, Zumper allows you to submit rental applications and credit reports through its screening service, all while keeping your personal information safe and secured. You can also receive real-time alerts on new listings posted to get your eyes on new properties right away.
8. Rent.com
The Rent.com app provides rental listings that offer updated information on different rentals, as well as special deals landlords are offering. Some listings include 3D tours, video footage, or allow you to request a live video tour if you’re not comfortable with in-person property showings.
Each listing includes a section with reviews from current or past renters that lived in the property to see what others are saying about their renting experience.
9. Apartments by Apartment Guide
Most rental apps ask what location you’re interested in, but Apartment Guide allows you to search for specific types of properties that are furnished, pet-friendly, or offer certain amenities. You can organize your listings based on the most affordable or highly rated to help you during your search.
Each listing offers comprehensive information on the rental, like how safe it is to get around in the neighborhood, nearby schools, the lease terms, and amenities offered. Apartment Guide also flags when listings have gone down in price, which could be helpful if you were interested in rentals initially out of your budget.
10. Apartment Finder
Apartment Finder is designed for renters looking to get a great deal when searching for an apartment, especially when rent prices are higher than normal. Each listing highlights whether the offer is considered a great deal or recently experienced a price drop. You can also calculate your monthly expenses for certain rentals based on the included rent price and any discounts the landlord is offering.
11. RentCafe.com
RentCafe only shows verified rental listings that are posted directly by property managers with current information on pricing and unit availability. Each listing shows photos, videos, 3D tours (if applicable), available floor plans, amenities, building information, and what other residents have to say about their renting experience. You can also see if there are any rent specials or the average utility costs if you’re looking to get the best deal.
If you’re stuck on multiple rentals, you can compare three listings at a time with their comparison tool, making it easier to see which rentals are best for you. Once you’re ready to schedule a property showing, you can do so directly on RentCafe.com by choosing a date and time, which syncs directly with the property manager’s appointment calendar.
Save on Application Fees With a Renter Profile
Finding your next home doesn’t have to be stressful or expensive. With the Avail Renter Profile, you can share your rental history, online application, screening reports, and more with as many landlords as you want.
Your rental information can be emailed to landlords in minutes through a shareable link to get your application in front of the competition, which can help you land a rental in a competitive market.
Create an account or log in to complete your rental history and make the home search process easier.
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With home prices and mortgages rising in a highly competitive homebuying market, you may have decided to rent instead of buying a house. If it’s your first time renting a house, then you may be wondering how the process works and what you need to know as a renter.
In this article, we explain the steps of renting a house and share tips to make the home search less stressful.
What Are the Steps of Renting a House?
Renting a house is similar to renting an apartment, but the general process may vary depending on the landlord. Here are the main six steps to renting a house to prepare for.
1. Determine Your Budget
You’ll need to cover the most common fees associated with renting a house, especially now that rent prices are predicted to increase by 7.1% in the next 12 months, according to Realtor.com®. The initial process of finding an apartment requires application fees, a move-in fee or a security deposit, renters insurance, and pet deposits (if applicable).
To forecast how much each cost will be, you can search online to see what landlords are charging for benchmarks. You can also research local landlord-tenant laws to see if your state restricts how much landlords can charge for certain fees, such as your security deposit and application fees.
Ongoing monthly fees can consist of your rent payment, parking fee, pet rent, and utilities. Most landlords prefer tenants to make a gross income worth three times the monthly rent, which may be something to keep in mind.
2. List Your Preferred Amenities
Every house will offer its own set of amenities, so determine which ones you’re looking for during your search. This can include a backyard, a balcony, parking space, or in-unit laundry. Determining what your preferred amenities are can also make it easier to sort through online rental listings on house-hunting websites.
3. Find Available Properties Online
There are various websites to help you find available rentals near you. Realtor.com®, Zillow, Facebook Marketplace, Redfin, and Trulia are some examples of websites that have up-to-date listings with information on the rent price, amenities, and what the property is near. Some sites can also connect you with Realtors that specialize in leasing to help you find additional houses that fit your criteria.
4. Schedule House Tours
Property showings can be done in-person, virtually, or through a 3D tool. Most renters opt for in-person tours to get a better idea of the neighborhood, size of the property, and quality of each room, but both virtual and 3D tours can offer similar benefits.
With rental listings on Realtor.com®, renters can view the property in the comfort of their own home via 3D tours, if offered by the landlord. However, you can also schedule a virtual tour with the landlord or in-person to view the house before submitting an application.
5. Create a Renter Profile
Although creating a renter profile is not necessary to rent a house, it’s a great way to save on application fees, limit credit checks, and allow you to control access to your information. If you’re planning on applying to more than one property, it’s likely that each landlord will charge an application fee anywhere from $30 to $55 per applicant and run a credit check.
With an Avail Renter Profile, you only pay one fee to cover the tenant screening reports. Your renter profile can then be shared with multiple landlords through a sharable link. Your profile will include your rental application, tenants screening reports (credit check, eviction check, background check), and necessary documents. If you’ve decided you’re no longer interested in the property, you can take access away from the landlord to keep your information protected.
Some states legally require landlords to accept renter profiles, so check local ordinances to confirm.
6. Sign the Lease Agreement
If your rental application is accepted, your landlord will provide you with a lease agreement to review and sign. When reviewing the lease agreement, ensure the information aligns with what was discussed with the landlord during the property showing.
You may also want to familiarize yourself with renters’ rights to confirm your landlord is abiding by local ordinances. If all of the information in the lease aligns with what you and the landlord discussed, you can then sign the document. The agreement is not legally-binding until the landlord signs the document and has provided you with the final copy with both signatures.
What Are the Pros and Cons of Renting a House?
Like anything, there are pros and cons to renting a house. Renting a house gives you more flexibility to move to another property if you’ve decided the area or property is not the right fit. There are also fewer maintenance responsibilities, since your landlord is responsible for routine maintenance and certain repairs. Renting may also be cheaper than buying due to less upfront costs and not needing a mortgage to move into the property.
However, choosing to rent can result in your landlord increasing rent at the end of the lease term and not being able to reap the benefits of homeownership. For that reason, it’s important to consider the pros and cons of renting before signing a lease agreement.
Save on Application Fees With a Renter Profile
If you’re ready to find your next home, visit Realtor.com® to find available rentals near you. Get details on each property, schedule virtual or in-person showings, and connect with the landlord in minutes.
Once you’ve found a few houses to apply for, create an Avail Renter Profile to save on application fees and limit credit checks on your credit report. Create a free account today to get started.
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There’s a good chance your next apartment search will result in multiple credit checks initiated by landlords, but can apartment credit checks hurt your credit score? While they can show up on your credit report as an inquiry, they’re not as harmful as you might think.
Here’s everything you need to know about credit checks and how they can impact your credit score as a renter.
Are Apartment Credit Checks Hard or Soft Inquiries?
A hard credit check is when your credit report is pulled to check your credit history for a new line of credit. Soft credit checks pull the same information, but have less of an impact on your credit score since they’re not attached to a specific application for credit.
Most credit card providers, car dealerships, mortgage lenders, and other lending institutions run a hard credit check when you’re looking to add a new line of credit. Since landlords and property managers primarily want information on your credit history to determine your reliability to make on-time payments, these show up as soft credit checks.
Your credit score is usually left unchanged when applying for an apartment, unless you applied for a new line of credit during the same time period.
How Do Landlords Check Your Credit?
A landlord can check your credit directly through one of the three credit bureaus (Experian, Equifax, and TransUnion) or a property management software platform like Avail. If your landlord is using Avail to check your credit, then this will show as a soft credit check on your report.
You can also submit an Avail Renter Profile if you’re looking to limit overall credit checks on your report, as well as save on rental application fees. A renter profile includes the same information landlords require on a rental application and can be shared through an online link.
You also have the option to add a credit check, background check, and eviction report to your profile for a one-time fee of $55. The credit report is pulled directly from TransUnion and provides all the information landlords need when reviewing your application.
Can Multiple Credit Checks for Rentals Affect My Credit Score?
Since most credit checks for renting are considered soft checks, they won’t negatively impact your credit score. The FICO® credit-scoring model, one of the most popular credit scores, ignores inquiries made within 30 days of scoring. Regardless of how long your apartment search takes, your credit score should not be impacted by your apartment credit checks.
Other credit scores, like the VantageScore credit scoring model, consider all inquiries made within 14 days of rate shopping as a single inquiry, no matter the type of credit application. So if you apply for multiple apartments within that time frame, they’ll all show up as a single soft inquiry.
Limit Credit Checks With an Avail Renter Profile
Finding your next apartment can lead to multiple credit checks and expensive rental application fees, but there are ways to limit them. An Avail Renter Profile helps you easily share your rental history, landlord references, credit report, and much more with one shareable link.
Create an account to make your apartment search less expensive and stressful.
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As a renter, you’ll often be required to fill out a rental application and authorize a background check to help landlords determine if you’re a good fit for the property. While this step can take a few hours to a few days, there are quicker ways to provide your renter information when apartment searching — and that’s through a renter profile.
An Avail Renter Profile allows you to save both time and money by sharing your rental information through a shareable link. Here’s everything you need to know about how to create a renter profile on Avail to speed up the process of applying for an apartment.
What Is a Renter Profile?
A renter profile consists of the information you would normally be required to share on a rental application, but in a format that can be shared through an online link. You also have the option to add a credit, background, and eviction report to your profile to avoid having to pay an application fee for more than one rental property.
The shareable link will automatically direct landlords to Avail where they can find a comprehensive overview of who you are as a renter, access your credit report, and more. Creating a renter profile is free and does not require an investment unless you decide to add a credit, background, and eviction check for a one-time fee of $55.
What Are the Benefits of Having a Renter Profile?
An Avail Renter Profile can benefit both renters and their landlords in various ways. Here are three main benefits of creating a renter profile before starting your apartment search.
- Save money on application fees: Application fees can cost anywhere from $30 to $55 per applicant, and are usually the renter’s responsibility to cover. Instead of having to pay that fee for more than one property, you can create one profile that can be shared with various landlords at once.
- Avoid negative hits to your credit score: If a landlord checks your credit health on their own, this can affect your credit score more than if you were to request a credit check yourself. If a credit check is initiated by you and not an outside party, it will be considered a “soft inquiry” and opposed to a “hard inquiry,” thus reducing the chances of your credit score going down.
- You control access to your information: With a renter profile, you can see exactly what information and reports landlords have access to. You can also revoke access to your information with one click, allowing you to keep your personal information secure and safe from people that no longer need it.
How to Create a Renter Profile on Avail
Creating an Avail Renter Profile is easy to do and can be completed in less than 10 minutes. Here’s how to get started:
- Log in to your account: Creating an Avail Renter Profile is free for renters and does not require any credit card information to complete.
- Click “Renter Profile”: This page will lead you to your Renter Profile, which will include sections to complete before being shared with landlords.
- Provide accurate information on who you are: The Renter Profile will request information that’s usually asked on a rental application, such as your residence history, work history, income verification, standard application questions, and screening report authorization.
- Share with future landlords: Once you’ve successfully completed your Renter Profile, you can easily share your information with any landlord through a link.
Do Landlords Accept Renter Profiles?
Landlords do accept renter profiles, especially if they’re already using Avail to manage their rental property. The Renter Profile includes verified and secure information about a renter to ensure landlords are easily provided the information they would normally request through a rental application.
The credit report includes information from TransUnion with your updated credit score, payment history, and account summaries. Background and eviction check information is pulled from the same source as traditional rental applications to ensure landlords are provided accurate data.
Save on Application Fees With Avail
The process of landing your dream apartment doesn’t have to be time-consuming, expensive, or stressful. With an Avail Renter Profile, you can easily get ahead of the competition by sharing your renter information quickly, at no cost to you or the landlord.
Create an account today to build your profile in minutes and enjoy the benefits of Avail.
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