Applying for an Apartment or Condo - How to avoid rejection

Looking for a new place to rent can be challenging, and many rental companies and buildings now require a bunch of information before you will be approved to live there.  If you are rejected from an apartment building, the first thing you should ask is why your application was rejected.  This will tell you what you need to fix or change or adjust for your next application.

Although all the information they require seems overwhelming and a bit tedious, all they really want to know is that you will be able to pay your rent, that you will pay it on time, and that you are a good tenant.  Therefore the following information is usually requested:

Credit History – Are you low risk, average risk, or high risk?

Rental History – Are you a good tenant?  Did you maintain a well-kept unit?

Bank Statements – Will you be able to afford the rent?

Employment Letter – Are you employed? Will you continue to be able to pay the rent?

Personal References – What type of person are you?  How is your character? Are you responsible?

 

1. Credit History: If you were rejected because of your credit, start by getting your credit report. You can order it off of Equifax for around $20.  Go through it carefully.  Make sure that there aren’t any errors or marks you didn’t know about.  If there are, call and make sure it is fixed right away.   If there are no errors but your credit just isn’t good, try to fix it.  There is no immediate fix and a simple cure does not exist.  I would recommend going to your bank and asking what they recommend.  If you don’t have the time, try asking the property manager if they would be more lenient if you paid a couple months more in advance.
    
2. Rental History: If you were rejected due to your rental history, it would most likely be because of the lack of history. If you are renting a place on your own for the first time, tell them that.  Ask them if you provide more personal references if it would suffice.  If however, you have a bad rental history and you were not a good tenant for your last landlord, there is not much you can do.  You could try renting somewhere that doesn’t ask for your rental history for a few months and be a very good tenant and then move and use them as a rental reference.
    
3. Bank Statements: The main purpose of looking at your bank statements is so that they know you will be able to afford the rent.  If you are renting with roommates, be sure that they can provide this information as well.  If you have a bad bank balance, try to recover it.  Also, you could ask if you could provide pay stubs instead.
    
4. Employment Letter:  No matter where you go, most landlords will want to make sure you are employed.  This is to make sure you will continue to be able to pay your rent.  If you are not employed, try showing them your previous year’s tax return or if you are on EI or disability show them proof.
    
5. Personal References: If your application was rejected due to your personal references, this is usually an easy fix – change your references!  You want people who can accurately and honestly describe your character, your responsibility, and who can verify other details about you.  Make sure you choose people who know you and that are responsible themselves for example a co-worker or a long time family friend.

When you provide all these details, know that they will all be verified.  So once you know why your application was rejected start taking steps to remedy the situation.  If you are looking for a place to rent or need help with your application, please let me know and I would be happy to assist you.

Sincerely,

Astra Mulawka
Sales Representative
Better Homes and Gardens
Real Estate

Landlord/Tenant Disputes

Almost every renter and every landlord you come across will be able to tell you stories about having to deal with each other.  It can be a complicated relationship even on the best of days.  When disputes arise between tenants and landlords, as they often do, it is important to keep calm and deal with it properly and responsibly.  

Keep the following tips in mind if this ever happens to you or someone you know:

1.       The first step in handling a dispute is deciding exactly how big the issue is.  Don’t sweat the little stuff.  Make sure any problems you come across are worth creating any dispute.

2.       If you decide that the dispute is worth your time and effort, start recording everything.  Make sure you keep notes, take pictures, record dates, and keep copies of any contact between you and your landlord.  Once a dispute starts, you never quite know where it will end up.  You may just end up needing this paper trail.

3.       Check the Law.  It makes everything a lot less stressful and gives you leverage when the law is on your side. 

4.       Talk to them!  They are just people.  Arrange a meeting and stay calm.  Listen to what they have to say.  Make sure you know each other’s expectations and create a follow up plan.

5.       If the meeting didn't help, decide how far you want to go.  Perhaps you can both agree to terminate the lease and both go your separate ways.  If not, check the local laws and procedures for housing court. 

I hope these tips help you resolve any issues that may come between you and your landlord.  If you need help looking for a new place to live, please contact me and I will be happy to assist you in finding your new home.

Sincerely,

Astra Mulawka
Sales Representative
Better Homes and Gardens
Real Estate Signature Service

Moving in Together - How to Keep the Move Smooth

Moving your belongings from one place to another is hectic enough. Moving two people’s belongings can be complete chaos, especially if you don’t plan ahead. Not only do both of you need to pack and box your stuff but you also need to decide what and what not to keep.  Moving in together is a big step, and something you want to go smoothly and as stress free as possible.  To minimize any mishaps, setbacks, or problems try the following tips:

     1.      Get Rid of EVERYTHING that you Don’t Use

Keeping stuff just for the sake of having it is fine when you live in your own place, but not something you should bring to your new home.  Many people don’t realize how much stuff they actually do have until it is time to move.  Although moving is tiresome and tedious, it is also a motivational boost to go through all of your belongings.  Take this time to reduce all your excess stuff, say items that you haven’t used in the last six months.  Go room by room and take your time! It is better to do this before your move, than after.  Once you know what you aren’t taking with you, try selling the items or donating them to charity.

2.      Start Combining your Belongings

Now that you know what you do and don’t want to bring with you, look at both your belongings to decide what will go into your new home and where it will go.  Try and get a floor plan to see what will fit and what wont.  If you were both going from living on your own to together, most likely you will have two of everything – two couches, two beds, two tables.  Pick the best items from the batch and make sure you both agree on those items.  If someone has a favorite item that you don’t feel particularly partial to, try compromising.  Now that you know the major furniture etc. that will be coming with you, either sell or store the rest of the furniture.

3.      Manage Expenses

Moving can get expensive.  Although it inevitably comes with some costs, you can certainly minimize others.  The first step is deciding how you will do the move.  Will you hire a moving company?  Will you rent a truck? Borrow a truck?  Hire people or asks friends to help?  These are all things you should think about ahead of time.   Once you have a plan, set the date and start preparing.  Get packing supplies and start as soon as possible.

  

4.      Create a Plan for Game Day

Since you probably want to move both of your things on the same day, create a plan on how to go to both places on the same day.  Make sure everything is ready on the day so that all you have to do is move stuff from one place to the other.  Also, if you are moving into a condo or apartment building, make sure you have the elevator booked!

5.      Keep Boxes Organized and Labeled

To save time and mistakes, make sure the boxes are clearly labelled and organized.  Write on each box which room to put it in and what is in it, so when you start to unpack it goes quickly.

Hopefully these tips help you get settled together and make your move smooth and stress free.  If you are looking for a home for you and your significant other to move in to, please don’t hesitate to contact me and I would be happy to assist you.

Sincerely,

Astra Mulawka
Sales Representative

Better Homes and Gardens
Real Estate Signature Service

Negotiating Cheaper Rent

Similar to negotiating prices when buying property, the same can be done when leasing a property.  If you think that the rent is too high, you can try a couple things to try and negotiate a better price.  Keep in mind, if the demand for housing is high, the landlord will probably look past you to the next potential tenant.

If you think the rent is high, check it.  If you are working with a realtor® ask them to compare it with the average lease prices in the area.  If the asked rent is too high in comparison, show them the statistics and ask them to reconsider.  If they disagree, try the following option: convince them that you are the best tenant ever and they won’t find one as good as you.  How do you do this?  Most landlords require that you have the following basic information:

   1.        Credit Check

   2.       Bank Statements

   3.       Job Letter

   4.       Previous Landlord information

   5.       Current Landlord Information

   6.       Personal References

Make sure these are all “up to par” and that you are in good standing.   Show them that you are a great tenant and won’t cause them any trouble.  If you are a handy person, try suggesting a trade of you fixing some little things for a reduced rent.

When you are asking for lower rent, be realistic.  If you ask right away for say ½ the rent, it’s probably not going to happen.  Also, be personal.  Tell them why you want to pay less without telling them you can’t afford it – if you tell them you can’t afford it, they will think you can’t pay your rent.  And lastly, if they say no, there are lots of other places for you to try.  Good luck!

If you are looking to lease a place, please do not hesitate to contact me.  I will be happy to assist you and negotiate on your behalf!

Sincerely,

Astra Mulawka
Sales Representative
Better Homes and Gardens
Real Estate Signature Service

How to Set Your Priorities when Buying a Home

When you decide that you are ready to buy a home, it is important to decide which features are important to you and which aren't.  A lot of the time buyers will have a picture in their minds.  This picture showcases the community they want to live in, the house they love, and the price they can afford.  Although this works out for some people, it doesn't for others.  Perhaps there is a home that you love but it’s not in the right place, or there isn't anything available in your dream location that’s in your budget.  Whatever is the case, it is important to set your priorities.  A realtor® will be able to provide you expert advice and sort through the many listings available to find you something you will be happy with and works for you and your family.

One of the first things a realtor® will do once you contact them is ask you what you are looking for in a home.  For example, how many bedrooms you want? How many bathrooms? How much parking? Does it need to be close to your job or close to a school? Etc.  This gives them a starting point.  It is always a good idea to figure out these things ahead of time.  I encourage every buyer to create a list of things they need in their new home and a list of things they want in their new home.  If you are buying a home with a spouse, I recommend each completing a separate list.  You will find that the list is usually not the same.  Talk about it and create one master list with priorities, needs, and of course a wish list.  This will help when you meet with your realtor and make things go smoothly and efficiently.

Before you start looking at homes, MEET WITH A LENDER.  This will make sure that you don’t waste your time looking at homes you can’t afford.  As soon as you get pre-approved, make sure you tell your realtor® so they can narrow down their search as well.

If you can’t find that perfect home, in the perfect location, at the perfect price – consider the following options:

• Look for a smaller home – you can always add on to the house when you save a bit more money.
• Try looking at different types of properties such as town houses or condos – you may be surprised to find you like these more than you thought.
•  Consider a fixer upper – although this will lower the list price of the home, make sure you don’t take on something that you can’t handle.  Renovations can get costly quick.
•  Rent longer and save more to be able to afford what you really want.
•  Talk to your realtor® about lease-to-own opportunities.

I hope this article helped you think about how to set your priorities and start thinking about buying a home.  If you are ready to start the house hunting, please do not hesitate to contact me and I will be happy to assist you.

Sincerely,

Astra Mulawka
Sales Representative
Better Homes and Gardens
Real Estate Signature Service