Privacy PlusSM Helps Renters Find a New Lease on Life

Privacy Plus, a leading security and privacy membership program from Adaptive Marketing LLC^®, offers members advice and valuable insights on how credit records can affect their ability to rent a property. Even more, Privacy Plus shares ideas on how renting can be different from home buying — especially when it comes to the pivotal relationship between renter and landlord.

Unlike a home mortgage, which often ends up as just a financial arrangement between you and a faceless entity these days, when it comes to renting, you and the landlord have to establish a relationship based on trust. Simply showing up with a current bank statement or a letter of reference from a current or past employer just isn’t enough. And from your perspective as the renter, a promissory note from the landlord or even a “handshake” agreement shouldn’t be enough either — especially when it comes to structural damages for which you could be liable.

Clearly, the relationship between landlord and renter depends on both communication and documentation. For that reason, Privacy Plus has a few handy tips on landing rental properties:

-- Put it in writing. If you don’t have written proof of your financial past, including past residences, employment records and references, that’s a lot like a landlord telling you, “You’ll love this place … just take my word for it.” Prospective landlords, like prospective employers, need written proof that you’re a reliable individual. So before you start looking at places, prepare a resumé of previous living arrangements and employment status.

-- Keep an eye on credit. Landlords can and will run a credit check on you when you try to rent a house or apartment. Plain and simple, the law allows them to use your credit history as a factor in evaluating your application. For that reason, it’s probably a good idea to include a copy of your credit report with the rental application. If your credit is especially good, adding a credit report copy could seal the deal. If your credit is only marginal, that kind of upfront honesty and preparedness can also give you an edge over other would-be renters.

-- A promise is a promise? Taking someone at their word doesn’t really wash when it comes to any business dealing — especially real estate matters. Just as a landlord won’t accept the fact that you have good credit at your say-so, you shouldn’t, for example, accept a verbal agreement to fix plumbing problems. Promises are nice; written documentation helps get the job done.

-- Rent-a-Check. Even if a landlord has property insurance, that just covers the property — not your personal items. Check up on and protect your investment with renter’s insurance, and guard against fire, theft and personal injury.

Renting a house or apartment doesn’t have to be a chore. Still, since it directly affects your future, be sure to put in the time and effort needed to make a solid, reliable decision, suggests Privacy Plus.