Many of us travel during the holiday season, especially in some neighborhoods on the East Side which have a high student population. This can leave vacant apartments vulnerable to potential thieves looking to profit from this time of year.

Before you leave for Winter break this year, consider getting renter’s insurance. You’ll be surprised how affordable it is, sometimes as little as $100-$200/year, depending on the value of your apartment contents. You may be able to get it as part of a policy you are already carrying, such as your car insurance for an even better deal. Search on line for the best bargains like GEICO, Progressive or even AMICA.

Wishing you all a safe and happy holiday season!

In these challenging economic times of increased foreclosures and stringent qualification requirements for obtaining a mortgage, more and more Americans are finding themselves back in the rental market for the first time since college (or ever.) The landscape most likely has changed dramatically since those days. Here are some tips for how to navigate the apartment wilderness…

Educate Yourself.
Before you do anything become familiar with the area you want to rent in. Drive around the various neighborhoods within your town of interest. Stop for lunch and talk to people about where they live and how they like it. Write down some streets you particularly like and search several websites, like craig’s list, to get a feel for what’s out there within your general price range.

Make Funds Available.
Even with an abundance of rental inventory out there, the best deals still go quickly. If one apartment really stands out, be ready with your checkbook to put down a deposit and make sure funds are available in your checking account. In the time it takes you to get organized, someone else can pull the rug out from under you.  No matter what the agent tells you, an application alone only goes so far.

Work with a Realtor®.
Ok, I know I’m biased, but there are good reasons to use a Realtor. Generally we have access to a large inventory and we can do the leg work for you as far as providing information, setting up appointments and negotiating the rent. Also, we will usually go over the lease with you and work out any details, such as pets, parking, etc., in your best interest.

Consider Your Needs.
Take some time to figure out your “nice to have’s” and “need to have’s,” as far as square footage, number of bedrooms, parking, level of finish and any other items important to you. The clearer the picture in your mind, the faster and easier the process will be for you.

Timing.
As always, it is everything. It’s a good idea to start educating yourself a couple of months before beginning your search. Generally 6-8 weeks in advance is an ideal time to start looking. Any earlier and properties may not yet be available, but obviously if you wait too long you could miss your window. Talk to your Realtor, as certain areas (Providence being one of them) have heavy seasonality with their rental inventory which will affect your search.

If you are ready, check out our rental listings, or send me an email for assistance.

There you sit, starting a search for a truly great place to rent in Providence. The computer is deftly searching the websites trying to find that gem, when up pops hundreds of listings. Now, the only problem you are encountering is where to begin.

Since to date there is no real Providence apartment atlas, you might call the rental scene here ‘uncharted.’ Navigating it can be challenging, especially for higher end flats which are less likely to be posted on Craigslist.

If you’re looking for a modern, high end apartment, you have several great options. Working with a Realtor to help you find the right location is recommended, especially since it won’t cost you anything. Also, Realtors frequently send referrals to most of the complexes, so they can typically help negotiate a better rent price than you can get on your own, and often can get extra amenities which are usually extra, such as parking.

There are a handful of places Downtown and a few best kept secrets only a 10 minute drive to the city. With the latter you can get more for your money and even luxury waterfront living. So if you’re looking for a little luxury, here are some suggestions:

Downtown:
1.  Residences at the Westin
2.  Waterplace Park
3.  The Promenade
4.  Westminster and Peerless Lofts
5.  The 903

Best Within a 10 Minute Drive:
1. Rosedale Landing – Edgewood, Cranston-Luxury Waterfront-Check out this week’s Rental Feature for an Exclusive Video Tour!
2. Rumford Center – East Providence in a fabulous mill restoration (complete w/cafe)
3. Slater Mill – Pawtucket Arts District – Another great mill restoration for Loft Living

Even I am still discovering what’s out there…for more information on these and other Premier Rental Communities, contact me!

Looking for an apartment for September 1st here in Providence? Join the club! The rental scene is nearing critical mass.  Students & faculty are entering the area colleges, the competition for the good spaces gets fierce, and people get desperate to secure an apartment. If you find a place you want, I recommend you be prepared to rent it on the spot, since someone else might take it while you are scrambling to get everything together for the application. Here are some tips on how to make sure you are ready to spring once you find that perfect domicile:

1. Have funds available: You are likely going to have to put down an application fee, first month’s rent and a security deposit, so make sure the funds are already transferred into your account. A Realtor will question your seriousness and stability as a tenant if you say, “I’ll take it!” and then have to call 5 people and work some banking magic in order to give them the money.

2. Have a checkbook on hand: This may seem like a no brainer, but you would be surprised how many people I’ve shown an apartment to on a Sunday who then say, “Ooops, I don’t have any checks. Can you hold the apartment until tomorrow and I will get up early and go to the bank for a money order?” Answer is usually no, and if someone else comes prepared to rent, you lost the apartment to them.

3. Be ready with contact numbers: Most applications call for your current landlord’s phone number and possibly even your previous landlord’s number, as well as your employer, supervisor and personal references. Have these numbers on hand, and let these people know in advance that a Realtor or new apartment owner may be contacting them, especially your current landlord. The biggest ‘faux pas’ is not telling your landlord you’re moving! When a Realtor calls for a reference and your landlord says, “Uhh, she didn’t tell me she was moving,” this makes you look very irresponsible and weakens your chances significantly.

4. Have all your questions written down and ask them up front: Make sure you gather all the info you need from the Realtor or landlord before committing to an apartment. Once you’ve submitted your application and your deposit, if you start calling with questions you forgot to ask, “Oh, by the way, is there visitor’s parking? Can my boyfriend’s dog stay here every other weekend? ,” the Realtor is likely to think you are disorganized, getting cold feet or that you’re going to be high maintenance. They may continue showing the apartment to others.

5. Choose a backup apartment: Just because you submit an application and put down a deposit on your favorite place doesn’t mean it’s a sure thing. Don’t get caught with all your eggs in one basket. Have a 1st and 2nd choice, and tell the Realtor or landlord of apartment number 1 that you need to know within 24 hours whether it’s yours. This is a reasonable request, shows you are serious, and will prevent any shiftiness as well as protect you from having to start all over again.

Feel free to call me for apartment hunting advice! Also, I am still listing new apartments every day, so check the website often www.residentialpropertes.com/rentals

12 Adams Circle Rehoboth, MA

Absolutely beautiful 4 bedroom 2.5 bath home, built in 2001, in premier Adams Farm in Rehoboth. Rehoboth school system. Chef’s kitchen with state of the art appliances and family breakfast nook. Lots of cabinets and storage plus island with granite countertops.

Formal dining room, family room with fireplace and sliders to private deck. Master suite with jacuzzi and walk in closet. Gleaming hardwoods, dramatic entry foyer with cathedral ceilings, very large yard, 3 car garage, washer/dryer, central air-every amenity.

20 minute drive to Providence. Available furnished or unfurnished. Owner will consider short term if kept furnished for $3500 per month, $3200 per month unfurnished.

Stunning home!

This is a follow up to last week’s blog on why using a Realtor to help find you a tenant might be worth your while.

As the Rental Director here at Residential Properties, I can tell you it is crunch time for filling those apartments and the phones are ringing off the hook with people looking for apartments for August 1st and September 1st! The apartment hunters are out there.

So, if you’re not getting steady calls & showing requests, or if you are, but haven’t gotten any bites yet, try some of these tips to get a tenant to take the bait! It’s been working very effectively for me over the past 2 weeks.

1. Offer 1/2 month’s security deposit as an incentive: If tenant moves in by September 1st. Lots of people are low on cash this season and keeping a little more in their pocket has huge appeal.
2. Consider reducing rent for longer-term leases: This is great for both parties. There are many grad students entering into 2 and 3-year programs who will likely prefer not to have to worry about moving out next year. To compensate for sacrificing a little on your monthly rent, you can get the security of knowing you won’t have to worry about it either. I recommend reducing the rent by 5%-10% for a 2-year lease for adequate incentive.
3. Stay competitive: The market is continually changing as landlords are getting more motivated to rent their places. Check out your competition and be the best value. If you have a 2 bed apartment available in decent condition on the East Side, run regular Craig’s List searches and call us here at Residential Properties to find out what similar properties are going for.
4. Don’t inflate your rent to save room for negotiation: Many people search up to ‘tiers’ so if you’re at $1250 instead of $1200, but you would take $1200, you are missing a large part of your potential renter pool who are only searching up to $1200.
5. Make your sign clear, noticeable and prominent: Apartment hunters are taking to the streets and writing down contact numbers from ‘FOR RENT’ signs on properties that appeal to them. Finding a place is a lot of work, and people are tired. If they can’t see your number from the distance of their car, they are likely to just keep on going, which is one more missed opportunity for you.

For more advice, contact me! Also I would like to know about your apartment, as I have lots of clients coming through my office who need a place!

81 Dixwell Avenue Cranston, RI
It’s a 3 bed for $1500, single family home, 10 mins drive from Providence.

Feels like home! Wonderful house for rent, just 10 mins drive from Providence. House is in perfect condition with lovely Colonial details. Hardwood floors, new windows, living room, dining room w/double doors to outdoor patio & fenced in yard. Garage parking, laundry, basement storage. Available September 1st.