On October 29, 2012, the Denver Business Journal reported that Denver rental vacancies were at a 12 year low at just 4.3 percent. With growing job opportunities, a progressive economy and a vibrant downtown lifestyle, more and more individuals are choosing to relocate to the Denver metro area. All of these factors are making it increasingly difficult to find and lock in rental housing options.
If you are considering renting a home or an apartment in Denver, please keep a few pointers in mind. First, be prepared to act immediately once you locate a rental that suits you. The old addage "here today and gone tomorrow" could not be more appropriate when conducting a rental search. In order to avoid losing your edge on securing your top rental home, come prepared to fill out an application and leave a deposit on the spot. Make sure that you have all necessary documents (photo ID, employment verification, rental insurance) with you so that your application process can be quick and painless.
Also, make sure that you are getting the best rental rates available by locking into the longest lease term that you can. Many owners and apartment communities will offer better rates for longer lease terms!
Finally, get an agent on your side. Many rental clients do not realize that real estate agents are able to aid in rental searches. Agents can not only help gather rental listings, but they can also aid in being your advocate throughout the process!