The movement away from homes due to financial constraints is putting pressure on the rental inventory. As such, landlords can be more selective about tenants and rents are on the rise in many markets. In seasonal markets such as the Twin Cities you can expect to pay a premium for a June-May lease for example. Rentals go quickly if in the right condition, location and price point so be prepared to act fast. Also, know that an application fee and process typically apply so be up front with your agent and/or the landlord with any items you know will appear in your credit/background check. Some landlords have firm criteria they will stick to in selecting a tenant so have those discussions prior to the application fee if you can do so. Also, if you see a place and know it is a fit for you – “lock it in”. Get online or with the landlord to get the application process going. Most landlords will work with one tenant at a time through the application process.
Rentals on the Rise – MSNBC Report Reference 2/2012