A thing or 2 about the renting process

Finding a new place to live can obviously be very stressful. Many things need to be taken into consideration, from the budget to the future neighborhood to the time of year when you’ll move. The process itself can take weeks and it’s very important that we are properly prepared for it. Below I will summarize the steps we’ll take to make this stress-less and successful.

During the initial conversation I will ask you some questions to see what exactly you are looking for (size, price, neighborhood, likes and dislikes, etc.). That way, when we go see the apartment you have in mind, I have a couple other ones lined up, just in case you are not perfectly happy with the first one.

There are several things you will need to bring to the showing. As a rule of thumb, it’s the last year’s tax returns, last 2 pay stubs, most recent bank statement, current apartment lease and the proof of rent payment for the last 3 months. Not originals, copies are fine. If it sounds a bit much to bring to the showing, please have in mind that other agents will probably ask the same thing. The reason is that the landlords and management companies won’t even accept the applications without all the paperwork. And if you’re thinking:” Well, if I do like the place, I’ll just fax the documents the next day.”, please don’t. Way too many deals die before the closing because people were hesitant and someone else snatched the place.

So, once you see the place you want, we’ll go to the office and put the deposit down so they can take it off the market. A huge majority of available apartments are being shown by more than one agent and more than one real estate office, so, as a rule, we try to wrap it up ASAP.

When you put the deposit down (usually 1 month’s rent which goes towards your total moving costs), we submit the application and then we wait. It usually takes the landlord between 24 and 48 hours to decide. Once you’re accepted, we’ll schedule the closing and that’s it!

Next week, I’ll write about fees and no-fees; what to expect and what to look out for.

Thanks guys! Please feel free to send it to anyone who might be looking, it will save them some headache and hopefully earn me some money so it’s a win-win.

by Srdjan Trofi

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