Jolene rummaged in her pocketbook. She was looking for a pen. She had the Sunday newspaper on her dining room table as she was looking for a new apartment. Max had agreed to move in with her. Actually, Max had suggested it; he was hopelessly in love with Jolene. She had agreed with the caveat that they would both move into a bigger place.
Max currently rented a studio and Jolene lived in a one-bedroom. His baby grand piano was not going to fit into her small apartment, so they had agreed on a budget, and here they were looking in the paper and online.
Max yelled out, "I've got one! Two months free rent, no application fee."
Jolene groused back at Max, "Where is it, in the slums? Can't they get anyone to live there without giving a few months rent off?" Max laughed back at her, "You are really cynical, Jolene."
They kept looking: Craig's list, Rent Clicks, apartments.com, rent.com, rentnet.com, the local paper, the Apartment Guide, For Rent Magazine. Finally Max said, "Hey Jolene, what are we really looking for?"
Jolene replied, "Well, I want to live in the Wyndam Hill neighborhood. We need two bedrooms and two baths. I would like to live in an apartment complex that has a weight room and a swimming pool so I can work out in the mornings. In addition, I want to be on the bus line, and of course we need to have space to park two cars, yours and mine. Oh yes, and I worry about crime. I want to check out the crime rates, and not to forget that shopping must be close by and maybe a church and of course a yoga studio."
Max was blown away. "How much rent are you willing to pay?" he asked Jolene. "I only make $10 an hour and you make about $10 an hour. Together we make about $3500 a month. With the usual Landlord rule of thumb, we can rent an apartment for a third of our combined income, or around $1083 a month. I have a car payment, you have a car payment, I need to pay off my school loans and you do too. I think the most we can afford is $700 a month, plus electricity, and that does not a two bedroom apartment in Wyndam Hill make. I think we need to look in the Montecito Flats area where the rents are a little lower. Maybe we can do without the weight room and the swimming pool."
Jolene was not happy, but Max was the sensible one in the relationship. She trusted his judgement. "O.K. Max, we will do it your way. "
So back to work they went on the Internet and with the Sunday paper. They narrowed their search down to seven apartments. They were lucky. The last few years had been hard on landlords and most really needed to keep their units rented. The economy was still weak and there were more units in the marketplace than tenants. Three of the properties they wanted to look at promised $99 move-ins, and two of them offered the first month's rent for free. The other two offered no specials.
They hopped in Max's car and went to Montecito Flats. Jolene had mapped out all of the locations. They had called ahead and knew when managers were going to be home.
It was January and so it had been raining. It was about 45 degrees outside.
They got to the first property, the Alameda. It was a beautiful stucco building with red tile roofs. They liked it right away, but the manager was not home. They took a building flyer and went on to the next property.
The second was called Montecito Grove. It was an older building with T1-11 siding. The siding was green with algae and the wood had mushrooms growing in it. The aluminum pane windows had water running down the inside. The units were heated with baseboard electric heat. The manager was friendly, but one sniff into the apartment and the mold and mildew smell scared Max and Jolene. They thanked the manager and went on to the next property.
The third property was called Allen Heights. It was a nice, newer building of about 45 units. But the parking ratio only allowed for one car.
The fourth apartment complex was called the Alito Commons. It was a brand new 30-unit apartment property. The vinyl siding looked great, the parking was good, but the manager was a disciplinarian, "No loud music after 8 p.m. and before 8 a.m., no smoking, no parties, no children. Max and Jolene looked at each other and agreed this was not the place for them.
The fifth one was called Meadow Woods. This was a beautifully kept 35-unit property.
Unfortunately, the laundry room was in the basement, and they could not find the manager, as there were no signs at the property directing potential tenants to the manager's unit. They finally just guessed at the manager's door. There was a slot in the door and a sign that read, "The rent goes here." Max and Jolene both decided that if the manager was this hard to find, none of their problems would get taken care of -- ever.
The sixth complex was called Tarrington Hills. As they drove up, they could see the landscaping was freshly taken care of. The property was immaculate, not a speck of paper or trash on the ground. The garbage enclosure, which they passed on the way to the mangers office, was spotless and the dumpster did not even smell.
Signs to the manager's office were everywhere. There was a map at the entrance to the property that showed all the units and gave you a bird's eye view of how it was laid out. The manager was friendly and the two bedroom unit was clean. The apartment smelled fresh and there was no mold or mildew to be found. It even had its own washer/dryer hookup, the two bathrooms they had hoped for, and two parking spaces.
They decided to apply right away. The manager asked them how their credit was. They both looked at each other. Max said, "Mine is okay."
Jolene squeaked, "I am over my limit at Nordstrom and Crate and Barrel." The manager said, "Well let's see what we can do." She took their applications and application fees and told them they would hear back within 24 hours. She also told them that if their credit was a little weak, they might have to pay and extra security deposit to offset the landlord risk. Max said that was fine.
As they left the building, Jolene put her arm through Max's and pulled him close, "I like this place, I hope they accept us." Max grinned, "Me too, because this was the best building of them all!"
In summary, potential tenants want to live in a safe, centrally-located home. They want the smoke detectors to work and not be potential targets of crime. They desire a clean home that is mold and mildew free. They want a caring onsite manager who makes it easy to find them at the property. Tenants want convenience. They prefer washer and dryer units in their apartment if possible. Tenants are cost-conscious -- they want to get as much as they can for as little as possible. They do however understand value, and will pay extra for a gate to the parking lot.
Tenants also have differing needs. Consider handicapped tenants, tenants with children, tenants who are students. You can't be everything to everybody, but you can choose a great onsite manager, make it easy to find your manager, and keep the property smelling and looking great.
