The Chicago rental market is hotter than ever! By the time you view that online advertisement and contact someone for a showing, the unit already has multiple applications submitted on it and even some offers. It can feel overwhelming and totally hopeless to navigate this process on your own, especially if you have experienced this more than once. Working with a leasing agent is the best way to learn about new inventory as soon as it becomes available and receive guidance if you do find yourself in a competing application situation.
Here are the top 4 tips from licensed leasing agents to make your application
- Find out what the application looks like BEFORE your showing. Make sure you are prepared with all of the materials you need to apply so you can submit your application in a timely manner.
- If you’ve confirmed that the apartment has already received applications, you may want to offer a higher rent amount in order to stand out. It is important to come up with a clear number that is your maximum budget and put your best foot forward if you find the apartment of your dreams.
- If the apartment is at the top of your budget, there are other strategies to get your application considered. Owners prefer to have minimal turnover of tenants, therefore it can be appealing to offer the owner a longer duration of the lease. A typical lease length is 12 months, but offering a 18-24 month lease would provide a sense of security for the owner.
- If the apartment is vacant and available now, you can offer the owner a sooner move-in date. Even if your lease isn’t up until the end of the month, by agreeing to overlap your lease with a sooner move-in date you are simultaneously presenting a better offer to the landlord and providing yourself with an easier moving process.
Give us a call to help you secure your perfect apartment!
773.404.9900 or Rent@ApartmentSourceChicago.com