Not only is this true in sales, time is of the essence in today's rental market. If you're an applicant in search of your next home to rent, then you need to be prepared to act quickly when you find it.
For example, recently I received a phone call from an angry "almost-applicant." They felt as though they were cheated out of renting a house for which they submitted applications. I call them an "almost-applicant", because they hadn't submitted a complete rental application package and paid the application fees, prior to another set of applicants being approved for renting the property. These unhappy folks had first viewed the property a full week prior to today. They took the weekend to probably look at some other properties and think it over. Well, since the day they looked at the property, I'd shown it to 4 or 5 other prospective tenants, and 3 or 4 others before they looked at it. Just last night, one of those prospective tenants became an applicant, by submitting a complete application package and paid their application fees.
So, first thing this morning, I screened them and sent their approval. Subsequently, the "almost-applicants" faxed in their final paperwork, then called me to confirm I received everything. I acknowledged what I had received, but then told them I had just approved another applicant, so they may want to consider whether to pay their application fee. I offered to call them to let them know if the other person backed out, then the phone call ended. A few minutes later, they called back to hopefully speak with a manager and complain, but I'm the manager and owner of the company, so they commenced to explain they would tell everyone possible to never rent from my company. OK, thanks!
On the first page of my rental application, it states, "Application must be completely filled-out, with all documents, and application fee paid, prior to screening." Can it get more clear than that? If an almost-applicant wants to take a full week to think about it, compile the necessary documents, then finally pull it all together, then there's a big chance they're not going to be the first one to submit an application and get approved.
Time is of the essence, renters. Don't wait around. If you want to rent a property, then take the required steps as quickly as possible. If you have any questions on this or any other topic, please contact us at info@arrowmanagement.com. We would be happy to help.
