Leasing (Residential)

Unlike buying or selling real estate, leasing is a shorter process. As quick as few days compared to the months for traditionally buying or selling.

Leasing is a great option you can try living in areas without the worries of managing property. Being that the process is quicker, it makes leasing an apartment that much more competitive at times. Whenever I work with renters I require them to provide the following in advance to better get a chance to secure their apartment of choice

• Proof of income (2 most recent bank statement)

• Tax Returns (2 most recent)

• Government ID

• Credit Check (Typically for apartment applications a 20 dollar fee will be charged to conduct a background / credit check)

• 2 months rent (1st month rent and security deposit)

• Broker Fee (Dependent on listing agent a fee as high as 15% of annual rent will be charged to applicant)

Many apartments have requirements to be met to qualify for the apartment, typically just financial. The qualification is to require make at least 40x monthly rent. However, outstanding loans, credit and rent history, grantors, are also taken into considerations. Grantors are accepted most of the time and are welcomed if the qualification above was not met. If the possibility of default on the lease arises the grantor must be able to financially able and qualify to pay your rent.

Leasing can be interesting in competitive markets if you have any questions feel free to reach out to be assisted by an agent!