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Renting successfully in a tight market

By TIMES STAFF WRITER
Published July 29, 2006

Looking for an apartment in a tight rental market? Condo conversions have removed many rental units from the market, and rising interest rates have sent would-be buyers back into rentals.

"Renters should go online and check ratings and reviews of apartments before they sign a lease," Jeremy Bencken, chief executive officer of apartmentratings.com, an online referral and review source, said in a news release.

Some key factors may not be visible on a Saturday afternoon visit, Bencken says:

* How quickly and effectively does the maintenance staff respond?

* How available and friendly is the office staff?

* How thin are the walls?

* How is parking on a Monday night?

Apartmentratings.com offers these tips for succeeding in the apartment rental market.

* Rent from an individual landlord who will value a stable, long-term tenant and be less likely to raise the rent quickly.

* Rent a condo from an investor who expected to flip it but now can't find a buyer.

* Search in the middle of the month. Most renters start and end their leases at the beginning or end of the month. Landlords may be willing to cut a deal to avoid multiple weeks of vacancies.

* Move away from the city center to find units at lower costs or with appealing discounts.

* Split the rent with a roommate.

* Get your credit report and clean up any blemishes so you'll be an attractive tenant.

* Read apartment reviews and ratings online before you go shopping in person so you know what to look for and you don't waste time visiting complexes that don't meet your needs.

* Research the rent. What are others paying? Can you afford this complex?

* Sign the longest lease you can afford. Landlords may discount for long-term rentals.

* Investigate rebates offered to tenants who rent via Web sites.

* Start your search early.

[Last modified July 27, 2006, 13:02:30]