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.

TOP 5 REASONS TO HIRE A REALTOR® TO HELP YOU FIND A TENANT!

Recent polls show average rents are down 20%-25%, and vacancies are up. Way up. Many landlords who say they’ve never had to use a realtor® in the past are signing with someone this season as competition is fierce for good tenants. It will cost you one month’s rent, but here is why it’s well worth it!

1. Time: Finding a tenant takes time, especially now. What is your time worth to you? Placing ads, taking calls, scheduling showings (and often ‘no-show’s), and following up w/prospects can fill up several hours across weeks and even months. If you break down the number of hours it will take, my guess is a realtor will work for less per hour than you will!
2. Web Exposure: Real estate companies have put in a lot of time and money to create polished, user-friendly websites to show up on search engines and attract people looking for apartments from around the country. Take advantage of this leverage! Some property owners create their own websites, which may receive little to no traffic.
3. ‘Cross Pollination’: When a company has many listings, often times a potential tenant will call on one apartment which either doesn’t suit them or has already been rented. This creates a wider pool of possibilities to draw from, rather than waiting for calls on your particular property.
4. Relocation: Most real estate companies have international relocation departments. People looking to buy in a given area commonly will rent for a year while they get acclimated to the town. How else can you achieve global reach?
5. Application: Realtors® generally have streamlined application processes already in place. They will check credit, speak with current and previous landlords, verify employment and check references. Let someone else do this tedious legwork.

These are just some of the benefits. For more details call me!

For those of you from other parts of the country (or other parts of the world) who have been looking at apartments here in Providence, you may have noticed that the flipside to the charm and character of our historic houses is they are also rather, (ahem) ‘cozy ‘.  If you haven’t chosen your apartment yet, and are wondering whether a certain layout will feel roomy enough, or if the square footage of your new digs is cramping your style, consider the following top 5 apartment decorating tips to open things up a bit.

1. Paint Light Colors:
Light colors are more reflective which maximizes the ‘opening’ quality of natural light. Making trims and moldings the same color or lighter than the wall color will further this effect. Use some dark accented furniture or wall hangings to create contrast for a crisp, sophisticated look.

2. Use Mirrors:
Mirrors reflect light and create depth, day and night. Especially effective is placing them opposite windows.

3. Scale Furniture:
Avoid stuffing rooms full of furniture. Keep things smaller with lighter designs such as open-backed chairs or headboards. Choose a love seat rather than a sofa and buy narrower, shorter bookshelves and dressers.

4. Angle Your Furniture:
Since the longest straight line in a room is its diagonal, angling furniture can create a visual illusion of spacial extension. You don’t have to put things at a full 45 degrees. If you can counter balance pieces of furniture, a modest angle will often work best.

5. Strategic Lighting:
Create two or three areas of focus using spot or soft lighting. Lighting multiple areas creates dimension and spreads out visual interest with a net result of a more dynamic interior space that feels larger.

Notice when you’re looking at apartments that are still occupied whether the current tenants have utilized any of these design strategies. If not, flex your visualization skills and imagine how using some or all of these decorating tips can make room’s look and feel more spacious.

Featured Rental: 57 Spring St., Rehoboth, MA-$1300, 2 beds plus an Office

Pastoral Paradise! First and second floor of a newer home in a pristine bucolic setting with water views of the pond from almost every room! Open kitchen/living room on first floor, BEAUTIFUL sunroom, and big kitchen w/lots of storage.

Master bedroom suite w/deck and fabulous views of the pond and 147 acres of pastures beyond. All this and only a 20-minute drive to Providence!

There are two rooms on the first floor in addition to the living room. One is a bedroom and the other for use as an office/den.

The apartment is in perfect condition, spacious w/exquisite light, plenty of parking, laundry hook-up. Rare find!

Click here to learn more.

Amidst the buzz about our struggling economy, you may have heard now is the best time to invest in real estate with prices the lowest they’ve been in years. But did you know it’s also a great time to rent?

Amongst established rental property owners in the Providence area there appears to be a consensus: Rents, like asking prices, are the lowest they’ve been in years! As it turns out, a buyer’s market is also a renter’s market.

Higher vacancy rates have created more competition in the rental arena and consequently, would-be tenants have more negotiating power.  Much like a sale price, a rental rate is negotiable.  Try using amenities as bargaining chips – perhaps adding a second parking spot, allowing a pet, installing a washer/dryer or including a utility or two in the rent.

If your situation permits, you may want to consider signing a two-year lease, including a provision that the rent will remain constant throughout the full term. As the economy improves and the market begins to increase, rents are likely to follow. Think ahead by taking advantage of the current market conditions, and keep your cost of living to a minimum.

Meet Our New Contributor!  Rebecca Lister, Rental Director

With a decade of experience in marketing and communications, most recently in the marketing of homes for sale, Rebecca Lister has taken over Residential Properties Rental Department as Rental Director.  Rebecca brings her passion for helping people to find homes that fit their lifestyle and needs and is thrilled to focus on servicing the growing rental community.  She has been with Residential Properties since 2006 and was formerly with The Real Estate Collaborative in Providence.  Lister received her BFA in Photography from Leslie College in Boston, MA and was additionally educated at the Newhouse School of Communications at Syracuse University in Syracuse, NY.  She is a member of the Providence Board of Realtors, a Yoga Alliance© certified yoga instructor, an amateur vegan chef, and Rhode Island native.  Contact Rebecca.

Featured Rental: 27 East Manning Street, Providence

Beautiful new Fox Point apartment in lovely 1890 Mansard Victorian, walking distance to Wayland Square, Wickenden St., and Brown, available immediately!

Comfortably situated on the first floor, this two-bed apartment is bright and spacious with a fabulous kitchen, sunny open living/dining area, high ceilings and gorgeous hardwood floors.

Ideal for professionals, the building is quiet with a private city yard for enjoyment.  Laundry facilities are on site. There is 1 parking space and basement storage.

Asking $1500/month, inlcuding heat and hot water. 1 Year Lease.  For more information, visit our Listing Details page or contact Sally Herreid at 401-553-6338.