Tenant Applicant Tip #1: ARE YOU RELIABLE? PROVE IT!

WHEN IT COMES TO RENTING A HOME OR APARTMENT THERE'S ONLY ONE THING THAT MATTERS: RELIABILITY

If you're actively looking to rent a new home, you'll find there are more tools than ever to find something you're looking for. The question is less about can you find a good place and more about "does the owner of that place think you're a good candidate". Ultimately, if it's easy for you to swipe left and swipe left through the Zillows and Apartments.com's out there...so how do you separate yourself from the multitudes of people who are also showing interest in what should be your next home?

CREDIT AND INCOME

First of all, realize that if you've got 3x the rent in gross income per month, you're in good shape. The current economy affects all and landlords are protecting themselves from financial risk at every turn. If you don't have the money, it's an uphill battle...but not an impossible one. Similarly, credit scores are the ultimate shorthand for property owners who aren't taking the time to get to know the candidates. If you're below 620, you've gotta have something else up your sleeve. Why? Because credit scores (more or less) indicate how reliable you are. If you don't pay bills on time (or perhaps didn't many years ago), it's hard to outrun that track record.

WHAT IF YOUR CREDIT AND/OR INCOME DOESN'T CUT IT?

Income is what it is. If you don't have the money, you don't have the money. You need to aim for a home in your price range.

But with credit, there's likely a story to tell. Credit history shouldn't be the end of a discussion, it should be the beginning. But that story only holds water if you can...wait for it...prove it!!!

Every other person who has crummy credit blames credit, or a divorce. Those excuses are vanilla and even if true, they come off as empty. What you need to do is fill that emptiness with proof: "It's a little personal but I really like this apartment, so here's a document from my attorney dated March 2024 from my divorce". "Here's a print up from my previous landlord showing on-time payments for the last two years. I've added her phone number as well if you'd like to contact her."

In short, don't let the numbers or the leasing agent's prior experience tell your story. Take the time and effort to shape your tale yourself. Show that you're prepared, leaning forward, and you can easily overcome those basic metrics. Typically, landlords are looking for 2 months of paystubs to verify income. You could wait for them to ask, or you could have them in a folder to hand to them at the end of your tour. Find a way to make an impact and anchor the owner's opinion to them meeting you and the poor credit will fade in importance.

WHY THE SHOWING MATTERS

There are two reasons leasing agents/landlords want to meet tenant candidates at the property. The first is that they want to make sure you like the property and have the opportunity to ask questions. The second, is so they can figure out if they like you. While they're trying to sell you on their property, you need to be selling them on why you're the best candidate. The best way to do that is to be prepared. Present yourself as successful and reliable.

That's it. Nothing fancy. Just take the extra effort and it will surely pay off. Control the experience with your preparedness and you'll show a reliability that is more accurate and impactful than that credit score.

https://youtube.com/shorts/Hq0XTEoZmpg?si=PLF-RHYv20OXeSRy

Good luck...see you out there!

Mick

Mick Lefort is the General Manager of Nexus' New Haven County Franchise Office and the Vice President of Operations for Nexus Property Management®, a National Property Management Franchise that manages all types of rental property from single family homes or condos to large apartment buildings and complexes.

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