Renter Confidential

Last year, Rental Secrets received an award at a ceremony held in Miami, FL. This year I returned to Miami to help the organizers with the event.  But, on my flight back to Dallas, I noticed a couple of things.  The tray table was about half the size I expected and the pocket on the back of the seat in front of me was non-existent.  It resembled a couple of crossed elastic ropes.  All of this got me thinking if this was the result of the high inflation that we’ve seen in recent years.  And that if I was experiencing the effects of inflation in that way on a plane, how might inflation be affecting the apartments that have been built recently? We’re talking about how inflation affects new apartments coming to market on this episode of Renter Confidential.
 
Sponsor: Apartment Search Secrets (RentalSecrets.net)
 
Sources: 
CPI Inflation Calculator, using US Dept of Labor statistics
https://www.rentcafe.com/blog/rental-market/market-snapshots/national-average-apartment-size/
https://www.businessinsider.com/why-is-lumber-so-expensive-prices-disaster-for-housing-market-2021-5?op=1
https://www.cnbc.com/2022/02/15/soaring-lumber-price-adds-nearly-19000-to-the-cost-of-a-new-home.html
“Crisis in Venezuela.” Last Week Tonight with John Oliver, created by John Oliver, Season 5, Episode 11, HBO Entertainment, 2018.
Pogue, Justin. “Parking In Apartment Complexes: The Struggle Is Real”, Youtube.com, Renter Confidential uploaded by Justin Pogue, August 22, 2023, https://youtu.be/rDAi_ZT8WB8 

In a previous episode of Renter Confidential we discussed the huge amount of trust that renters place in the landlord or property manager by choosing on of their properties to call home.  But, this trust is not one sided.  The landlord is also trusting the renter as well.  Trusting that they’ll take care of the property. Trusting that they won’t invite guests who may disrupt the community. Trusting that they will actually clean up after their dog when they take it out for a walk.  Showing the landlord that this trust was not misplaced is one of a renter’s best tools in negotiating the best rental deal possible.  Today we’re talking about how to develop and keep your landlord’s trust. This is Renter Confidential!
Sponsor: Apartment Search Secrets (RentalSecrets.net)
Sources:
“Bass Player Wanted.” How I Met Your Mother, created by Craig Thomas and Carter Bays, season 9, episode 13, CBS, 2013.
“The Dangers of Trusting The Wrong Landlord” Youtube, uploaded by Justin Pogue, 5 Sept. 2023, https://youtu.be/QjljK6f0HtY.

As you’re out looking for apartments, you’re busy looking at how beautiful the grounds are.  You’re looking at the finishes inside the apartment the property manager shows you.  You’re fantasizing about how refreshing a dip in the swimming pool will be.  And it’s true that these are all elements that will impact your rental experience at this particular property.  But, there is an unseen force that will impact your experience more than all of these elements combined.  And it’s the quality of the property manager and the management policies that you’ll have to live with once you sign your lease.  What are some of the best practices for property management? How would you know if these best practices are actually being used by this particular company?  We’re talking about spotting poor property managers before you sign a new lease! This is Renter Confidential!
Sponsor: Rental Secrets (https://rentalsecrets.net/rentalsecrets-amazon)
 
Source: 
Spain, Aaron. “Comcast put me on hold until they closed.” Youtube.com, uploaded by Aaron Spain, August 11, 2014, https://www.youtube.com/watch?v=9uoWzMOp8fQ.

Living at home has been amazing. Free food. Your laundry gets moved to the dryer when you forget about it - instead of being left wet on top of the machine.  The neighborhood is totally familiar. And your parents have been … in a word, amazing.  You’re now ready to move out into your own apartment but the monthly price tag is hard to swallow, to say the least.  Then it occurs to you, that if you had a roommate you could split that cost in half.  We’re talking roommates today on Renter Confidential!
 
Sponsor: Apartment Search Secrets (RentalSecrets.net)
 
Sources:
https://www.sparefoot.com/self-storage/blog/21859-heres-need-know-co-living-latest-housing-trend/
https://www.sightline.org/2012/11/14/rooming-houses-historys-affordable-quarters/
https://www.realtor.com/research/july-2023-rent/

You’ve found the perfect new apartment. Moving on to the next stage of your life will be just the fresh start that the doctor ordered.  The property manager emailed you the link to the application a couple of days ago and you promptly filled it out.  And after running a credit check they’ve come back to you with a problem.  They’re saying that your credit score is too low to qualify for the apartment.  You think to yourself, “That can’t be if my credit score was that low I’d know about it.” But yet here we are.  Today we’re covering the importance of your credit score in renting.  This is Renter Confidential!
 
Sponsor: Rental Secrets (https://rentalsecrets.net/rentalsecrets-amazon) 
 
Sources:
Consumer Reports Investigation Finds More Than One-Third of Consumers Found Errors in Their Credit Reports
https://www.consumerreports.org/media-room/press-releases/2021/06/consumer-reports-investigation-finds-more-than-one-third-of-consumers-found-errors-in-their-credit-reports/
 
The Internship. Directed by Shawn Levy, performances by Vince Vaughn, Owen Wilson, and Rose Byrne, Twentieth Century Fox and New Regency Productions, 2013. https://amzn.to/3Ec6jKd

It’s a beautiful day and you’re heading out the door to work.  You recently rented a house in a great area.  It’s been about a month and things have been going well.  But, as you approach your car, one of your neighbors walks by, waves hello, and makes a comment about the overgrown grass in the yard.  You wave back and make a mental note to contact the landlord about that.  When you reach out to the landlord the next day, they politely inform you that mowing the grass is your responsibility as stated in the lease.  Thinking back on it, you were so excited about the house that you didn’t even read all of the lease. And now you wonder if you even kept a copy of it.  We’re talking the value of not only reading your lease but keeping a copy of it on today’s episode of Renter Confidential!
 
Sponsor: Rental Secrets (https://rentalsecrets.net/rentalsecrets-amazon) 
Source: “The Big Move.” The Flintstones, created by William Hanna and Joseph Barbera, Season 3, episode 26, Hanna-Barbera Productions, 1963.
 

Move-in day is finally here!  You’re in your car sitting outside the property manager’s office.  The relief you feel about leaving those roommates behind has you walking on cloud nine.  Your lease is signed and the security deposit is already paid.  All that’s left now is to get the keys.  Oh…there’s the property manager, right on time.  
 
You get your keys and rush off to unlock your new apartment.  But as you start deciding where to put your pictures and furniture, you notice a few minor instances of damage in the apartment.  Some floor tiles are cracked in the bathroom.  There are one or two miniblinds that open but the mechanism to raise them isn’t working.  And a few of the plastic drawers in the refrigerator have cracks in them.  There’s no doubt that you’re moving in today as you never want to deal with those roommates again, but what can you do about this damage that you didn’t cause? Welcome to Renter Confidential!
 
Sponsor: Apartment Search Secrets (RentalSecrets.net)
Source: NCIS Complete Seasons 1-16, with Pauley Perrette, as Abby Sciuto (https://amzn.to/49tiYqE)

Once again you’re out looking for another apartment.  You’ve just finished an apartment tour and you’re back in the property manager’s office.  He’s droning on about the next steps and the fees you’ll have to pay upfront to move in.  You’re only half listening because by now you’re used to the drill.  You’re ready for the onslaught of fees.  The application fee. The credit check fee.  The security deposit. And of course the first month’s rent.  But, then you’re snapped back to attention as he starts listing fees that you’ve never heard of before.  The approval fee? The moving fee? Pest control fee?  You thank the property manager for his time and are left wondering about where all these fees came from and what they really are.  We’re talking new junk rental fees today on Renter Confidential!
 
Sponsor: Apartment Search Secrets (RentalSecrets.net)
 
Sources:
Rental Fees New Target for White House as Housing Affordability Challenges Persist
theepochtimes.com/article/rental-fees-new-target-for-administration-as-housing-affordability-challenges-persist-5424448
 
White House urges states to join government-wide crackdown on ‘junk fees’
https://www.nbcnews.com/politics/white-house/white-house-urges-states-join-government-wide-crackdown-junk-fees-rcna73928