The window is closing further on rental concessions, rent reductions and other incentives designed to get you to stay put in your current apartment or move for a better deal in rental housing.

That's because landlords and investors see a diminishing need to roll out the red carpet for tenants. While some markets more than others continue to offer special deals, the general trend nationwide is toward an investor's and landlord's market and away from a renter's market.

That's especially obvious in the acquisitions side of the market where investors are positioning themselves to cash in on the stronger rentals market.

"The transactions market continues to sizzle as more and more investors look to acquire apartment properties," said the National Multi Housing Council's (NMHC) chief economist Mark Obrinsky.

"Powerful demographic trends make this a favored sector over the next five to ten years, and the outlook is improving for the near term as well," he added.

In January, for the second quarter in a row -- and only the third time in the NMHC Survey of Apartment Market Conditions' nearly six-year history -- the indexes unanimously yielded improving conditions compared with three months earlier.

When from January 24 to 31, NMHC surveyed 113 CEOs and other senior executives of apartment-related firms who serve on NMHC board of directors advisory committee, here's what it found.

The Market Tightness Index reflects changes in vacancy rates and rent increases and it rose to 65. A score above 50 means more respondents saw improving conditions than saw worsening conditions over the past three months.

With the Sales Volume Index at 63, apartment property sales continue to post record high levels. A Sales Volume Index reading above 50 indicates that, on balance, sales volume nationwide is increasing. A reading below 50 shows a decrease in sales volume.

The Equity Financing Index rose to 64. While 56 percent of respondents indicated that conditions were unchanged, over one-third (34 percent) noted that equity financing conditions had improved, and only five percent reported conditions had worsened. When the index is above 50, equity financing is more available, than when it is below 50.

Up from three months ago, the Debt Financing Index actually slipped a bit from the last reading in October falling to 56 from 58 during the last reading. Still, interest rates remain relatively low and debt financing is widely available. A reading above 50 indicates borrowing conditions are improving, compared to a reading below 50 which indicates borrowing conditions are worsening.

The last available National Apartment Association(NAA) market report for 2004, among others, foretold of the improving conditions.

"More evidence that the rental housing Net effective rents in August (2004) rose at the highest rate in 20 months in the U.S. Department of Labor data series. Rents were up 4.1 percent over the year period ending in August. This was the first time that rate of increase in rents was higher than the previous month since May 2003," NAA reported.

So what's a renter to do?

Come to the table prepared.

Approach your rental-housing search like you would a job search. Be organized, serious, professional, and make sure you stand out as the best applicant. You want to make a good impression and demonstrate that you will be a good steward for the landlord's property.

Contact your references ahead of time to be sure your information on them is current and that you have their permission to use them as a reference.

Keep your credit in good standing. Obtain a free copy of your credit report, correct any errors, and make sure what you say in the rental application is consistent with what the landlord will see on the credit report.

Be prepared with all the information you need to complete a rental application. That includes, full, prior addresses, bank account and credit card numbers, a list of references. Landlords will not respond to incomplete applications.

Consider preparing a renter's resume. You may have to repeat the information on the application, but you will stand out as well-organized and prepared.

Let all your friends and associates know that you are looking for a rental home and what you want in a rental home. Explore newspaper classified ads, renter magazines, and the Internet for listings. Post notes on bulletin boards at public places you frequent.

Check the latest listings first thing every day, and call early. Respond quickly when a landlord calls you back. If you have a cellular phone, leave that number and have it on while you are out looking at other apartments.

If you leave a message on an answering machine, be sure to speak clearly and slowly, and repeat your name and phone number. Be available to accept or return calls, or state in your message when you will be available.

Know what you really want, and what you don't want. Be flexible with the rest of your criteria. Be prepared to decide on the spot and be prepared to leave a deposit and/or credit check fee.

Published: February 17, 2005

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Broderick Perkins parlayed a 30-year career in old-school journalism into a digital-age news service offering editorial content and related consulting services. The award-winning consumer journalist, originally from Wilmington, DE, is founder, publisher and executive editor of the bootstrap DeadlineNews Group, a Silicon Valley-based content provider specializing in residential real estate, consumer news and consulting. An open house for news that really hits home, the DeadlineNews Group includes the umbrella website DeadlineNews.com the flagship blog Deadline Newsroom, and three Examiner.com outposts -- Real Estate News Examiner; Consumer News Examiner; and Offbeat News Examiner. Along with a decade of work here with Realty Times, Perkins also provides content for Silicon Valley based ERate.com and the new AOLNews.com, where now "You've got news....that really hits home." His current work can also be found in Californian publications, the San Jose Mercury News, San Francisco's The Registry and the Salinas Californian. Perkins obtained his formal journalism education from University of Delaware and a journalism boot camp, the Institute of Journalism Education at the University of California-Berkeley. He went on to 20 years of service as a daily newspaper journalist at the Wilmington, DE News Journal and San Jose, CA Mercury News, before launching DeadlineNews Group. Perkins covered housing on the San Jose Mercury News reporting team which earned a General News Reporting Pulitzer Prize in 1989 for coverage of the Loma Prieta earthquake. He has also produced real estate, consumer and small business content for the Wall Street Journal, Los Angeles Times, Better Homes and Gardens, the National Association of Realtors, Homestore/Move and Nolo.com among more than four dozen publications. In addition to managing the DeadlineNews Group, Perkins served as chief editorial consultant for "Nolo's Essential Guide To Buying Your First Home."