I had a busy weekend. I was working with a few different clients who were looking for rental properties. My clients were back to back and thankfully looking in the same city. Running from one appointment to the next was much easier because of the logistics.
Winter is approaching and the clients I saw were both in the same situation. They want to be in a new rental property before the snow hits and they have to worry about moving in the snow.
The majority of renters these days are looking for a home that has 3 bedrooms, at least 1.5 bathrooms, a minimum of 1,000 sq ft. and a rental payment around $1,200 per month. There are more renters looking than well maintained homes available for rent. Homes for rent are going fast if they look good and are well priced.
Coincidentally, one of the homes I went to yesterday I showed twice. Each group of clients I took through the property fell in love with it immediately. The home was gorgeous. There was a good-sized living room with a beautiful fireplace. Three bedrooms were decent sized and had a good amount of closet space. There were 2 bathrooms that were updated with good-looking tile and fancy showers. The kitchen was well laid out and fit for a chef. There was even a well finished basement and a garage.
Both groups fell in love with the property. Both groups wanted to take it. I have no idea if there are other people who have viewed the property with their own realtor. For all I know there is a slew of people who will be fighting over the home.
I had met with each group for the first time yesterday. Before our appointment, we went over the importance of having a credit report ready to go, an application filled out and a letter of employment ready to submit. Yet, neither group of clients had finished getting all of the required paperwork together. I don’t believe either group figured they would find the perfect home so quickly. Now the rush is on to finish up all of the paperwork so that it can be submitted.
I have to admit, I have seen a lot of rental properties. This particular house is the best house by far that I have seen to date. This house will be off the market within a day. Even though I have two different groups of people interested in the home, I am not confident that either group will get the home.
The problem is that when you find the home you want, having your papers ready is crucial. Homes are moving way too fast. The best way to secure the home you want is to be able to submit everything needed the moment you find what you want. Even then, who knows who else might be submitting their paperwork as well.
The home will fall through for at least one of my clients. They can’t both live there. For anyone who sees their version of the perfect home and then loses it, heartache will set in. Future homes will be compared to the one that got away. What a horrible way to learn to take suggestions for being ready to act on a property seriously.
It will be interesting to see how this plays out. Honestly, I’ll be surprised if either client gets the home since they weren’t ready to act on it. I hope this serves as a good piece of advice for anyone who is interested in getting a new place to live in. Save some heartache. Get your papers together and be ready to act when the right home comes along. The market is different these days. Why bother running yourself ragged looking for a place if you aren’t ready to grab up a home when you fall in love with it.
Adventures in Real Estate 