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Category Title > Article Title

Renting Properties Listed on MLS

As a renter agent, I can assist you locating the right rental property and help you through the application process.

What is the process to rent a home listed on MLS?

If you are interested in renting a property, please contact me and I can help you each step of the way:

  1. Identify one or more properties you are interested in viewing. I can help you narrow your search based on available date, location, amenities, property type, etc.
  2. View properties of interest. I will schedule viewings with each listing agent and show you each property.
  3. Once you find the property that meets your needs, submit the application. I will help you in completing the application to put you in the best possible position to be accepted by the landlord. I will also help you negotiate any lease terms
  4. The listing agent obtains a background check on each applicant and presents the results to the landlord for acceptance.
  5. On acceptance, the listing agent prepares the lease and sends it to the landlord and tenants for signature. Once signed and delivered to all parties, the lease becomes a valid contract.
  6. Tenant arranges to have utilities transferred at the move-in date established in the lease.
  7. At the move-in date, the tenant takes possession of the property and can then move personal belongings.
What is the maximum monthly rent I can qualify?

Various methods are used depending on the property manager.  Many use the following formula as a guideline to determine if you have sufficient income to qualify:

   Monthly rent x 40 = minimum gross annual income from all applicants

   Example: $1750 monthly rent x 40 = $70,000 gross annual income

Property managers will usually require you to submit proof of income, such as copies of recent pay stubs.

What fees and deposits are required?

For each property, the specific rent rates, deposits, and fees will be provided in the MLS listing, but typical up front costs will include the following:

  • Application fee - This is normally $30-$50 per applicant, is provided with the application, and is non-refundable.
  • Ernest Money Deposit -This is usually the first full month's rent, and is provide with the application or with the signed lease.
  • Security Deposit - This is usually one month's rent provided at move-in, and is held in escrow by the owner. It is returned at the end of the lease. The owner may withhold some or all of this deposit to pay for cleaning and/or damages if the property is not returned as stipulated in the lease.
  • Pet Deposit - Pet deposits vary widely depending on owner, and are treated like the security deposit, but can be used to recover cost of pet damage when the property is returned.

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