Finding a rental can be tough. That can be true almost anywhere
in America these days. According census.gov, the site maintained by the U.S.
Census Bureau, the rental vacancy rate in these United States was around 7% in
the second quarter of 2018. That rate has decreased nationally and in every
region. Which, of course, means that housing has become more competitive. The
West and Northeast are the hardest markets to find rental housing in, while the
south and Midwest are marginally better.
Wait. Why do you care?
Because the dynamics of the market have an impact on you.
Yes, you. Writers often face particular hurdles in life that may be relatively
uncommon to most people. You know, because most people get… a paycheck. While
the reality is that much of the American labor force has shifted towards a
freelance-based, independent-contractor-type role, many of the nation’s
landlords and property management companies have been reluctant to acknowledge
this. Because, quite frankly, they don’t have to. There are plenty of people
lining up and waiting, sometimes interminable periods, to get into the exact
same rental you may have your eye on. A vacancy rate of 7% would mean 93% of
the other available housing units are not vacant. Or, to put it more clearly,
they are occupied.
Authors, no matter how they are published, are often treated
to highly irregular, volatile income shifts that probably will not look great
on paper to a potential landlord [NOTE: THIS IS NOT LEGAL OR FINANCIAL
ADVICE*]. Property managers rely on seeing a stable revenue source so they can
assess the potential risk of the prospective tenant. It’s perhaps
understandable if some people view property managers are greedy, robber baron
fucks, but someone invested truckloads of cash to build those coveted housing
units, and they won’t make that money back for decades in many instances. Until
you or I figure out how to secure ten million bucks to erect a few apartment
buildings, we have to play by the rules they set.
What some experts suggest is that those with irregular
incomes, here’s looking at you, authors, save up to three months’ worth of rent
before attempting to sign a lease or other agreement. This would help ensure
one appears to be a better risk. The Lofts of Merchant Row, an upscale Detroit
housing provider, suggests on their blog that one be reluctant to offer to
pre-pay that three months’ worth of rent. Since this is coming directly from a
housing provider, it seems like it might be reasonable information. The
thinking behind this may be that you can’t threaten to (or actually) withhold
what you’ve already paid. Sometimes, when there is a major landlord-tenant
dispute, experts may suggest that the tenant withhold rent, simply because
paying it in a timely manner implies that nothing was wrong.
If a landlord agrees to provide a housing unit in exchange
for something, usually money, they are also agreeing, usually, to provide a reasonably
safe, livable, and legal housing unit. If that housing unit is not livable,
then it can be up to the property manager or owner to resolve the issues.
Which, of course, they may not always be willing to do, since fixing a gas leak
requires someone to stop playing solitaire or scrolling through social media to
call someone. Someone they probably will have to pay.
So, then, experts and housing providers suggest that people
with irregular incomes save up to three months’ rent prior to signing any
rental agreements. This option may not work, however. All property management
companies are different, and some may have different requirements or
preferences. It is important, then, to not only have a game plan and savings,
but to also strive to create the best, most professional impression. This
includes over the phone or in written correspondence. This all boils to down to
the risk tolerance of the individual directly responsible for getting you into (or
not into) your dream apartment or rental. If you already have one potential red
flag, i.e., irregular income, then one needs to be honest with themselves in
their approach and address such concerns.
Moving on, if the 3-month approach does not work for
whatever reason, experts suggest printing out a record of 18 months’ worth of
payments. It would be best, according to various websites, to have statements
that show your royalty or whatever income was at least three times that of the
rent you are seeking to pay. So, if an apartment were 1200 a month, you’d probably
want at least 3600 on every royalty statement you provided, according to
industry professionals. This is a bit more in-depth than what may be required
of someone with a steady paycheck, but… it does help reveal that you have the
money to pay what you are agreeing to pay.
In addition, even if you can pay the desired amount, it may
be a good option to also simply re-evaluate things. In today’s world, there are
all sorts of housing options to fit the unique and dynamic needs of an
ever-shifting labor force. One can always share a house with roommates. One
could join a hippie writer’s commune. Who knows? As long as it’s legal and
people are as safe as can be expected, one is free to get creative.
Unfortunately, one has to be creative in today’s world. A
motherfucker just can’t catch a break. It might be worth noting that if anyone
has a competitive advantage in this department, it is CREATIVE writers.
Otherwise known as authors. If you’re making $3600 a month solely as an author,
you obviously have exhibited a fair share of creativity, because that sort of
money is abnormal.
Which is not to say that it CAN’T happen. It does happen,
all the time. And, even if it hasn’t happened for you yet, it doesn’t really
hurt to dream or plan ahead.
*This is not legal, financial, or professional advice. It
was not intended to be such. For questions regarding any actual unique or
specific professional needs, please contact the relevant experts or licensed
professionals in your local area. Laws and regulations vary according to the
jurisdiction. This is not intended to imply I am offering housing, nor is it
intended to offer any guarantee of future housing success. This post is
intended solely for informational purposes only.
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