This post is written by Emily Harper. Emily is a writer and an active member of the community watch. Connect with her through Facebook and Twitter.
Don’t we all have so much faith in the internet that we only believe things if we can find it there? Jimmy Wales, an American internet entrepreneur and Wikipedia co-founder said it best: “If it’s not on Google, it does not exist.”
Before we know it, the internet will be like the air we breathe. We simply can’t live without it. What happened to the missing MH-370? Is that movie any good? Oh my god, that cheerleader in high school has gotten really fat! What did Miley Cyrus pull off this time? It seems the only way to answer those questions is to go online.
Hunting for that perfect apartment is no exception. Everything you need to know is on a website — the look, the price, the location. It can even give you a virtual tour. In so many ways, the internet is like your friendly neighborhood realtor.
Newspaper classifieds and prints guides are a thing of the past. Apartment sellers must now consider internet listing services, banner ads, and corporate websites. In the recent white paper titled “Multifamily Marketing in the Internet Age,” author John Helm pointed out that more than 70% of renters in America begin their apartment search online. This is the reason why real estate firms reported a 50% increase in leasing activity mainly due to internet traffic.
Using data from two million internet users and a survey of over 400 online renters, the study found that potential customers usually begin at search engines like Google or Yahoo!. Then they look for the top three criteria for choosing an internet listing service: number of properties on the site, amount of detailed information, and the sites ease of use and functionality. To be more effective, most firms include photos or videos, floor plans and detailed rents. Firms can easily identify if a visit can turn into a successful online transaction. Based on the study, the most serious prospects end up buying or renting will return to the internet listing and view the same property four or five times over multiple sessions within 60 days. But what puts customers off? The number one complaint among potential buyers and renters is the lack of response to email and inquiries.
Here are the things you need to know when looking for living spaces online:
Everything looks better in a picture
Notice that every apartment in any internet listing is intended to endear you into giving them a look. Every room is intended to look bigger, the living area more spacious, the bathroom cleaner, and the neighborhood safer. However allergic you are to numbers, go through the floor plan and the actual size and features of the room. Find out if you can avail of the amenities in the subdivision for free and if there are other dues subtly hidden in the listing. Inquire to the broker or owner, ask questions and set an appointment.
If it’s too good to be true, it probably is
This is a classic case of using your common sense. If you see an ad of a two-bedroom Manhattan apartment for less than $500 a month, you can be sure it’s not for real. To avoid falling for scams like these, do a research of the ballpark pricing of apartments in your chosen location.
Check the background of your realtor and the website. Give them a call to know if the number really works and they have a dedicated staff to address your concerns. Take note of things like emails with its own domain, an office address that is consistent and something that you can actually track.
Tour your neighborhood
When looking for an apartment, one of the first things to consider is the location. Some listings will trick you into believing that your apartment is at the center of everything. You will encounter descriptions such as five minutes away from the subway, few blocks away from schools, etc. These could be accurate but also, maybe not.
It you don’t have time to personally survey the area or subdivision, it won’t hurt if you give yourself a virtual tour. Google map is a good alternative. Key in your address and zoom out a little to have a better view. Enter your places of interests like the grocery, shopping mall, diner, etc. and Google will highlight them for you.
Security check
If you are curious whether your area is a crime hotspot, check out Crime Reports and Trulia Crime Maps. If you click on the area, security data will pop out. It will tell you how many crimes were reported in that area like theft and burglary.
Remember to always check if the apartment and the area are equipped with security cameras.
Read reviews
Among the new features in real estate websites is the comments page. While these are usually at the bottom, take time to go through the reviews. Beware of fake reviews though. These are usually very short and impersonal. Some information are also inconsistent with the actual ad like details on the number of bedrooms, size of the rooms, whether there is a garage or not, etc.
Same goes when you are on a hunt for a condominium online. Reviews here are as crucial especially in terms of amenities and hidden charges. It will also help you get an idea on how to make the size of your condo, however small, work for your lifestyle.
Safe payment system
When you have decided on the apartment or condominium, make sure you are using a safe payment system for your deposit or rental. Legitimate wire transfers have traceability. Make sure that when you transfer money to a bank account or you used a credit card, you will be able to verify the transaction. Also check the website’s payment methods.
Black and white
Make sure everything is black and white. This does not literally mean “on paper.” You can also get an online contract with your realtor. This is proof that you agreed on payment terms, length of stay, changes you want to do at your place, and even having pets around. If you have questions, ask.
Remember that a confirmation is not a contract.
If you can have a contract signed in person and on paper, better. Some things are never to be left virtual.
Trust your instincts
If you are not comfortable with something, say so. If you are having second thoughts on the apartment, back out. If something tells you that you are about to make a wrong decision, don’t take the plunge.
Learn more about online rent payments with WilliamPaid.
