BE PREPARED! - What Every Renter Should Know To Step In Front of the Line

BE PREPARED! - What Every Renter Should Know To Step In Front of the Line

Luke Constantino September 9, 2008


I deal with a lot of buying and selling of property in NYC, but along with that, I also deal with rentals. Renting an apartment can be a pretty big job. Going to different sites on the internet, newspapers and just finding that decent location that coincides with your lifestyle can be very stressing. For me, rentals often bring on new home buyers later on. Here are some of my sure-fire tips on how to get in front of the line and be the best candidate for a rental in NYC:
5 TIPS ON WHAT YOU WILL NEED TO BE THE BEST CANDIDATE:


• Have a credit report ready from all three credit bureaus in hand. This is the most important thing you will need. You don't need perfect credit, but the higher your credit score the better. Anything above 580 is an open door, no questions asked. If a student loan or medical bill has brought your credit score down (and nothing else), you should point this out.
Best credit report: Creditreport.com
• Photocopy of your driver's license, social security card, 2 pay stubs from your employer and W2/1099. You have to draw a picture of who you are and how substantial you are to the person from whom you are renting.

• A letter from your employer. A letter from your employer (on the company's letterhead) stating how long you have been employed by that company and anything else that might be useful (Like the "He/she is an exceptional part of our team" statement, etc.).

• Do a "background check" on yourself (Optional). I do this on every renter I deal with along with a statewide U.S. Party/Case Index court check. This makes the person you are renting from very comfortable about you.
"Integrascan" background check: http://www.integrascan.com/

• First impressions count! When meeting with the person whom you will be renting from, dress nicely, be on time and bring all the information you have assembled. The bottom line; They want to know who you are on paper and that they are going pay them the rent in a timely manner.

Provide the person who you will be renting from all these assurances and you will move to the front of the line!


Luke Constantino has been a realtor for over 12 years and is currently employed by Remax Metro in NYC. He has also been quoted in the April 08' issue of " Time Out New York" magazine on "How to be the perfect candidate - Tips for renters" along with many other publications.

Luke Constantino

Commercial Residential

RE/MAX at THE SLOPE

Direct: (212) 300-3919 Fax: (360) 368-0098

http://LukeConstantino.com

Buying Real Estate in Brooklyn

These are trying times we live in now. There are over one million property owners in New York that are either in or in jeopardy of going into foreclosure. The 700 billion dollar bailout from the government will make things better, but it's going to take time for the market to regulate. A lot of people may not know this, but it is the best time to buy!


There is also a trend going on slowly among homeowners... They are buying down. Homeowners are re-evaluating their budgets. I'm starting to see people from Manhattan buying in parts of Brooklyn like Park Slope, Greenpoint and Williamsburg. The people from these areas are buying in Dyker Heights, Bensonhurst and Midwood. Everybody is trying to save money.

There are a lot of great deals on property now, more than ever before. I have literally seen some houses drop $135,000 below market value! Yes, this is on most of the high end properties here but I know one thing for sure:

"You will never find these prices ever again."

If you are an intelligent buyer and are looking to buy anywhere in Brooklyn, please, do your homework. There are sites out there which can help you with your search like: Zillow.com, Trulia.com and PropertyShark. They pretty much show you the demographics, schools and points of interest around the area you are looking in. One of the most important features of these sites is that they give you a general ball park figure of what the fair market value is for that specific area.

Get yourself a good Realtor also. Even though these sites may answer some of your questions, a good Realtor will be able to answer many more. A good Realtor will be able to help you make the best decision based on your needs and also should have a few inspectors, lawyers and mortgage people who can help your transaction run smoothly. I believe that experience counts now more than ever and I hope you will give me a call.

Luke Constantino
Commercial Residential
RE/MAX at THE SLOPE
Direct: (212) 300-3919 Fax: (360) 368-0098
http://LukeConstantino.com