Renting Resources

January 30th, 2021

Prequalifying Yourself as A Renter

As a renter, it is important that you are knowledgeable about the requirements to rent a home. 

Prequalification's:

  • Urgency (When do you need to move?)

  • Income needs to be 3x the rental amount.

  • Rental History (Evictions or Broken Leases play a big role on application approval)

  • Credit Score (A DOUBLE deposit may be required for credit scores lower than a 600)

  • You will be required to have a copy of your License and SS.

  • Background check and Credit Check may be ran.

January 30th, 2021

Searching for Homes

Now that you have prequalified yourself, the next part is where the fun starts.

Winning Tip: Before you start searching for homes, it is helpful to separate your Wants from your Needs.

  • What criteria's are most important to you? If you have kids, keep in mind the school district. 

  • What properties would you like to see? Set aside a list of properties that you would like to see and schedule a time with your realtor to see at least 3-4 properties a day.

  • Know that you will not find a property with everything you WANT. Be realistic so that way you are not going to see multiple properties because time is ticking.

January 30th, 2021

Prequalified yourself, Found a Home, What's next?

So you have seen multiple homes and finally found the one! What should you be expecting next?!

  • Once your application has been submitted, the listing agent will review the application with the landlord and get back to your realtor about their approval or reason for denial.

  • Everyone over the age of 18 must submit a separate application.

  • Please Keep in mind that some applications take 3-4 days to process, most of the time, you are not the only application that they are reviewing. Be patient and keep a backup property in mind incase something falls through. Stressing your realtor out will only make it harder for them to help you.

  • Once you have been approved, you will need to prepare two checks.

    • First months rent​

    • Security deposit check

  • Then you are all set to move in! Make sure you fill out a property condition sheet on your first day. This protects you from paying fees if a property had damages before you moved in.

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January 30th, 2020

Common Renter Issues and their Solutions

If you are looking to rent a home but you are worried about anything on your credit, background check, etc. I hope these tips will give you an idea of some things you can do to increase your approval rates. Winning Tip: The more honest you are with your realtor, the more they know how to advocate for you.

  • If you have a great rental record with your current landlord, ask for a letter of recommendation. A letter of recommendation shows that you have made on time payments and have been a great tenant while the time you were there.

  • Have your realtor call the listing agent before hand and see if the landlord of the house you are going to see is lenient or not before wasting your time.

  • Be willing to pay an extra $100 or more on the listed lease to get your application accepted. 

  • Not all of these will work all the time but remember, the realtor you are working with knows that there are ways to make both parties happy.

  • Be willing to compromise. Understand the position you are in and revaluate yourself and give yourself time to apply to several places.