How to Locate a Flat: 11 Strategies to Avoid the Surging Rental Market

You can save time and money by learning how to locate an apartment in a crowded rental market. Make your search easier by using our advice.

Getting an apartment when it seems like everyone else is searching for one can put a person’s optimism to the test. Getting the hang of finding an apartment for rent fast and hassle-free can help you get back on track and redirect your focus from finding a house to actually moving into one. Here are 11 strategies to give you an advantage when looking for an apartment, along with some information on how to tell if your property management or landlord is amenable to a compromise.

1. As soon as possible, or at least four months before your move date, begin your investigation.

Even though it might seem apparent, this is nonetheless crucial: Create a desire list as soon as possible and start examining rental listings that fit your top priorities. You will have more time to modify your expectations and focus on the greatest fit if you begin your search earlier. For instance, you might find that you truly really love living a 10-minute bike ride from work, or that an in-building fitness center isn’t as vital as you anticipated if it means you can save a little extra money each month. The more time-pressed you are and the more aggressively you compete with other would-be tenants, the more likely it is that you would settle and have renter’s remorse.

2. About two months prior to your move date, narrow down your apartment search.

It’s time to get serious now that you have a better idea of what is feasible. The first two weeks of the month are usually when the most apartments become available, so while you’re looking at postings, pay close attention to those. The competition is probably at its highest around the end of the month. Remember your priorities and desire list. If keeping a tight budget is your first priority, concentrate on the communities with the highest proportion of units within your price range. (We’ll walk you through the process below.)

3. Have a clear understanding of your maximum rent.

Stretching your budget to get your dream apartment can be tempting when competition and rentals are high (by October 2023, the average monthly rent in the United States grew by 3.2% from the previous year to $2,011). You can make sure you’re not overspending by being upfront about your maximum expenditure. To find out what monthly payment might comfortably fit in your budget, use our Rent Affordability Calculator. According to experts, a house is usually deemed cheap if its monthly payment amounts do not exceed thirty percent of your salary. Spend less time and money on apartments that won’t leave you with much money for other costs, savings, or leisure.

4. Have realistic expectations for the areas you’re looking for.

It’s not necessary to be an economics expert to know what the going rent in your neighborhood should be or when it makes sense to negotiate for a better price. To find out how many rentals are available and in what price range in a specific zip code or metro area, use Zillow’s Rental Market Trends tool. Look for rental properties by number of bedrooms, then contrast prices and availability between two locations. You may also find the median rent in the area you’re looking for with this tool.

5. Use a single program to save time.

Application fees can add up and prevent you from casting a wide net. For a one-time $29 cost, tenants can apply online to an infinite number of participating rental properties through Zillow for a 30-day period. Only rental homes that take part in the program are included in the selection; all other rentals are not featured. There are credit and background reports on the application.

Advice: Before your in-person tour, if you have the chance, think about applying online if your intuition is telling you that you’ve found “the one.” When you visit the property, this lets the property manager know you’re already a serious applicant.

6. Make use of notifications and filters

When new properties in your desired neighborhood match your home choices. Once you’ve narrowed down your options based on price, home type, preferred bed and bath, pet needs, laundry access, and other amenities, save your search.

Remember to narrow down your search and concentrate your in-person visits on the apartments that most appeal to you by using floor plans and 3D tours. In this manner, you won’t have to stand in line to see a house with inadequate natural light while someone else buys the ideal townhouse nearby.

7. Tell your family, friends, and coworkers that you’re looking for a place to live.

There is always a lot of movement in the rental market. Your networks may have information on new apartments coming up in their buildings or may know of someone who is moving out. It is possible to purchase a property before it is even listed. To beat the competition when it comes to a listing, think about asking about any upcoming rentals in the neighborhoods you’re interested in by posting on Facebook or Nextdoor groups.

8. Think about settling on a lease’s terms and conditions.

It may seem pointless to negotiate a lease’s terms and conditions in a competitive market. It’s not. Complex enterprises are managed by property owners. Locating long-term, dependable tenants requires work and patience. If you meet the requirements, you might think about the following:

Make an offer to extend the lease. Offer to sign a longer-term lease if you want to stay for two or three years. In addition to making an impression as an application, you might fix your rent for a number of years.

Be accommodating. Mentioning that you can move in faster or on a timetable that works for the landlord may also result in a discount or offer you an advantage throughout the screening process.

Find out whether there are any rent breaks. If a reduced rent isn’t an option, a landlord could be willing to talk about other benefits and features that can help you save money. For example, think about requesting free parking, a reduced pet cost, or gym membership.

9. Look a little bit outside of your favorite area.

In a highly competitive market, you might want to look around the edges of your target neighborhood to see if you can locate a better deal without sacrificing proximity to your ideal location.

10. Take a stroll through the neighborhood or neighborhoods you are interested in relocating to.

In order to draw in residents of the surrounding community, owners of tiny properties occasionally put up notices at neighborhood coffee shops or hang signs saying “for rent.”

11. Be prepared to set yourself apart from the crowd.

Make sure your credit score is in excellent standing because landlords frequently use them to screen prospective tenants. Check your credit score with all three credit bureaus a few months before you move in, make any necessary corrections, and think twice before making a big purchase or accruing a lot of credit debt before you locate a place to live. Arrange references and gather documentation proving your salary to cover the requested rent.