Tag: renting a property

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How to Find a Rental Property – THE RIGHT WAY!

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While I primarily work with sellers & buyers; I have learned and become very effective in helping people secure rental properties.

Finding a rental property can be very frustrating. Agents not calling you back and you can’t understand why? You’re probably going about it the wrong way! Understand why and what you can do differently. Taking this advice will save you a lot of wasted time & aggravation.

My TIPS…

  1. See if you can get Pre-Approved for a Mortgage. If not now, find out what you need to work on. Renting should not be your long-term strategy.
  2. Decide how you’ll search and find the property. Will you do it yourself or use an agent? Pick 1. Don’t do both!
  3. Be forthcoming. Disclose everything upfront. Especially pertaining to Credit Score, Evictions, Bankruptcies, Judgments and Pets.
  4. Know what you’re looking for in a rental property, BUT don’t be too picky.
  5. Don’t start looking to soon. You need to be ready to apply immediately and move in within the next 2 to 4 weeks.
  6. Make sure you’ll have all the money needed to proceed. You’ll need all funds by move-in. The reservation or security deposit may be due when your application is approved.
  7. Act quickly when you find a good rental. While you’re thinking about it, someone else is actually submitting an application.
Finding a Rental Property in Gwinnett County, Georgia

Rental Requirements / What to Expect…

Below is some info that will help with securing a rental in Georgia. Good rentals do go quickly, so here are some tips to HIGHLY increase your chances of securing one 7 Hardcore Tips for Finding a Rental Home  and How to Rent Successfully.

Each company/landlord varies, but they generally have these requirements. Please let me know NOW if you do not meet or have issue with any of the following.

  • Applicants – Everyone over age 18 must submit an application & fee. Everyone who will be staying in the home must be listed on the application. 
  • Credit – Some may or may not have a specific credit score, but relatively good/responsible recent payment history is ideal.
  • Credit – No evictions (some may allow evictions if more than 2 years ago). No open bankruptcies. No judgments related to rental property.
  • Income is 3 times the monthly rent. (Ex: $1300 x 3 = $3900 monthly income)
  • Pets – May or may not be allowed. If allowed, an additional deposit or fee is common.
  • Criminal Background – Some don’t allow any felonies. Some will allow after a certain timeframe. 
  1. To apply – Application fee amount depends on company. Common Requested Documents – Photo id, Social Security Card, Pay stubs, Bank Statement, W2, other proof of income.*Condition of property – Assume the house is as-is. Note any requests, changes, or fixes on your application.
  2. Once approved – 1) Reservation Deposit (a good faith deposit that will be credited) and/or Security Deposit (normally 1 month’s rent) and 2) First Month’s Rent due at move-in. If there are credit concerns, 2 month’s security deposit can be requested.
  3. Move-In Date– If your move-in date is more than a month out, please let me know. Rentals go quickly and are move-in dates generally cannot be extended (Ex: YES – Apply in March, move-in in April. NO– Apply in March for move-in in June or later). 

Check out this video for further information on these tips: