4 Things Agents Want Renters to Know
We surveyed agents on Spot Easy and here are the top things they wish renters knew when searching for an apartment in Boston.
We surveyed agents on Spot Easy and here are the top things they wish renters knew when searching for an apartment in Boston:
1. Don't hesitate.
The apartment market in Boston moves very fast. Don't hesitate or you might miss your dream apartment, since some listings are only available for one day. Be prepared to make a quick decision. If you find an apartment you like, don't wait too long to make an offer. The longer you wait, the more likely it is that someone else will snatch it up.
Tip: Any flexibility with move-in or budget will allow you to see more apartments that fit your primary criteria. For example, if you're able to move in quickly, you might have an advantage over other renters who need more time to make arrangements.
2. Upfront costs can be high.
Getting an apartment can cost up to 4x your monthly rent. This includes security deposit, first month's rent, last month's rent, broker fee, moving costs, and more. Due to the high upfront costs, it's crucial to get your finances in order before searching.
Not all apartments charge all the fees mentioned above. You can communicate with you agent to see places that charge less, but it may limit your options.
You may need a guarantor or co-signer if you are a student or recently employed.
What is a guarantor? A guarantor is someone added to the lease to guarantee your rent payment and gives the landlord confidence that you will pay rent on time. You may need one if your income is less than 3x the monthly rent.
3. It's competitive.
Don't get discouraged if you miss out on an apartment. There are lots of renters in Boston searching at the same time, so you may not get the first apartment you want to look at. Here are a few tips to keep in mind when searching in the competitive rental market:
- Start your search early, as soon as you know you'll be moving. This will give you time to browse through different options and narrow down your choices.
- Keeping an open mind and being flexible is a plus. It's easy to get attached to a certain type of apartment, but remember that there are always more options out there. Don't be afraid to consider different types of apartments in great neighborhoods that may fit your needs.
- Ranking multiple apartments. Get ready by ranking places that work so you can be prepared to apply for multiple apartments. This will keep you in the right position to secure a place quickly and easily.
- Be prepared to act fast. When you find an apartment you like, be ready to submit an application and deposit quickly. In a competitive market like Boston, good apartments can go fast.
4. Ask about listings you see online.
By the way, if you see the same listing twice, it could be an open listing. Landlords share their listings with multiple offices around the city to increase their chances of finding a renter. This means that many agents have the opportunity to post the same listing on different marketplaces. Chances are, the agent you are working with can access the listing you want to see.
Tip: When you find an agent you like working with, ask them about listings you find online.
Remember, move fast and be financially prepared. If you're worried about scams, check out Spot Easy, where all listings are real and all agents are verified.
By using a trusted platform like Spot Easy, you can move fast and make informed decisions, without the worry of falling victim to real estate scams.