Major Problems Faced by First Time Flat Renters
By: ROS Team
Becoming a first-time flat renter can be very exciting, but the process of finding the right one can be exhausting. If you’re a college student and it’s your first flat, you will be joining the 75% population of people under 25 that are renters.
It’s important to do some research to avoid the problems many first-time flat renters face, like not understanding their tenant rights and responsibilities or having no rental history. Here are some of the problems and how to solve them.
1) How the Application Process Works
2) You Have a Bad Credit History
3) Save Your Time if You Are Student
4) You don’t have a Rental History
5) You don’t have a Co-Signer
6) You don’t have a Good Agent
You Don’t Understand How the Application Process Works
Before you get into the rental market, you should have some understanding of your tenant rights and what documentation you will need.
The Personal Information a Landlord might Ask for Includes:
- Social Security Number (not necessary in California or New York)
- Driver’s License
- Recent Employment History
- Proof of Income
- Bank Account Details
- Personal References with Contact Details
- Rental History (which you won’t have yet)
If you don’t have this information, it can delay your application process. Make sure you ask a potential landlord the questions you may have about the flat and understand the rental policies before you sign on the dotted line.
You Have a Bad Credit History
If you have no credit history or you misused a credit card when you were younger, finding a rental unit could be difficult. There is usually a minimum credit score that landlords accept. Independent property owners who don’t work for a property management company might be a little more lenient if you fulfill all of the other requirements.
Instead of a flat-out rejection, if your credit score is a little low, some rental agencies will ask for a higher security deposit to help to minimize their risks. If you can find a way to prove that you are financially stable by producing bank statements and tax returns, you may convince them you will be able to pay your rent regularly and on time. If you are not in a great hurry, you could work on improving your credit score before looking for a flat to rent.
How to Save Your Time if You Are a College Student
Choosing a flat can be exhausting and time-consuming. If you’re a student and this is your first flat, you will have more responsibilities that can take up your time. You may want to know, “is there an essay service to write my essay for me?” In these responsibilities, it’s not uncommon to feel overwhelmed with academic tasks, leading to thoughts like needing someone to do my math homework, while you focus on setting up your new living space and adapting to independent life. You can choose a writing service, and the writers at EduBirdie will never disappoint you. Their essay writing skills will ensure your essay is good quality and plagiarism-free. The on-time delivery is an added advantage you would love and order again because of that.
You don’t have a Rental History
As a first-time flat renter, you don’t have a rental history to show the landlord. To avoid getting rejected because of this, you can take various steps. You might offer more money upfront, such as a month’s rent or a larger security deposit. You could choose a roommate with rental history.
Perhaps you can explain to the landlord that this is your first rental and ask family or friends to provide personal references about your character. If none of these options work, it may help to take a month-to-month lease or an AirBnB sublet, so you can get a reference before looking for a permanent flat.
You don’t have a Co-Signer
If you have a co-signer, it can make the application process easier. Rental agents want some reassurance in the form of verifiable income and good standing. A co-signer, such as a parent, can provide this reassurance if you don’t meet the requirements. As long as rental agents have the reassurance that renting to you won’t have negative financial implications for them, they are happy to go ahead with an application. The co-signer will become liable if you are unable to pay your rent.
You don’t have a Good Agent
It will help to find a good agent who can find great options for you and negotiate on your behalf. Get some recommendations from family or friends and read online reviews. If you don’t have a good agent, you may miss out on a good deal because they usually know about all the best opportunities.
Conclusion
As a first-time renter, you can minimize your stress by following the advice on how to avoid some major problems. Ask the landlord plenty of questions and understand your rights and responsibilities. Once you have rented a flat for the first time, the process becomes a little easier unless you haven’t been a good tenant.
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