Overview of Renting a Home

30 Oct

I received a call yesterday from a person interested in looking at a home.  I began asking all the typical questions needed to understand what their needs were.  Some of the questions I asked were:

1.  What cities are you interested in?
2.  How many bedrooms, bathrooms etc…
3.  How soon are you looking to move?
4.  Why are you moving?
5.  What will happen to the place you are currently living?
6.  Have you run your credit report?

This gave me enough information and I was able to ascertain that this person was nowhere near ready to look at homes.  She would not be out of a lease until December and she had just begun looking.

What do you do in a situation where the person wants to look but can’t get a home if she finds what she wants?

This is what I did.  I scheduled the appointment for the home she just had to see.  This will give me an opportunity to meet her and decide if we will work well together.

When I meet with this customer, I will give her all the paperwork she will need to start the process of getting ready to lease a new place.  I have set her up with our First to Know program in the meantime.  This program will give her daily updates on the homes available according to her criteria.

So after we view this home later this week, she will need to get all of her paperwork together and make sure she has enough money put aside.  This way if she finds a home she likes, she can put in an application right away.

As I have explained to her, rental homes are going fast these days if priced right and in good condition.  There is no point in looking at homes until she is prepared to actually put in an offer and is ready to move.

So, I will take her to view one home.  After that, it will be up to her to get the necessary paperwork together before we will go looking again.

If you are looking to rent, here are some things to keep in mind.

1.  There will be an application to fill out
2.  You will need to run a credit report with a credit score included in the report.
3.  A letter of proof of employment is generally needed.
4.  Bank records and pay stubs are generally needed to prove you have the financial capability to rent a home.
5.  Expect to have at least a month and a half months rent.  There are also cleaning fees and pet fees of up to $500 necessary for some of these rentals.

Every rental is different.  Based completely on that owner’s preferences.  Some rentals are pretty basic and easy to qualify for.  Other rentals will want certain credit scores and salary amounts for the person who moves in.  It is a very individual situation.

If you are thinking about renting, make sure you have the above items taken care of.  The application you can get from the realtor.  It is also extremely important that you are in a position to put down money and move in fairly quickly.  Homes are going fast and you won’t be doing yourself or the realtor any favors by looking before you are capable of moving in.

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Posted by on October 30, 2012 in how to, life


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