The rental and real estate markets are cyclical. Thus when the real estate market is good the rental market has an over supply of rental units to rent thus potential residents can find very good deals. But once the real estate market softens then the rental pool shrinks and creates a demand for rental units. This equates to higher rents and today Portland is in this type of rental market. In either scenario, the most desirable rental units are snapped up the quickest.
Potential renters should be prepared to have the following information at their finger tips. The more information the renter has at the time of application is just the confidence the landlord needs to process the application. For this reason, always have the following information with you: your current landlord information and the information for the three previous addresses and landlord phone numbers, your employer and length of employment, your current salary and other income information, personal references, a driver license or picture idea, and a checkbook or cash for the application fees.
Always ask the landlord for the current criteria to ensure you qualify for the rental unit that you are applying for. The criteria will tell you what the landlord is looking for when he or she processes your application. For example, if the criteria requires the applicant to have three years of rental history but you only have one year then you do not qualify and you should not waste your money on the application fee.
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