5 Steps To A Successful Lease

5 Steps To A Successful Lease

The leasing process can be stressful and eat up a ton of your time.  If you follow these 5 steps the process will go smoother, be less stressful and have a higher success rate!

1.  Find an Agent!

    Everybody wants to find the perfect hidden gem buried within internet, but I promise if you get connected with an agent they will have access to everything that is out on the market.  If you get a motivated agent they will put you on a customized auto search for properties and you will start receiving notifications as soon as they hit the market!

2.  Fill out the Lease form

    As soon as you get in touch with an agent ask them for the generic lease form  and then fill it out!  Doing this upfront will help give you an edge when you finally find the perfect place.  The forms are usually only a couple pages long, but requires you to hunt down very specific information which can take some time.  Having this filled out in advance gives your agent the chance to document the apps and will save time later down the road.  

3.  1 Month before "move-in"

    Find your agent and start looking at least 1 month in advance before your ideal move-in date.  You can start looking earlier if you like, but remember most landlords will only hold a property at max 2 weeks from the application approval date.  If you start the process too early then you may have to sign a lease earlier than your current lease which means double rent!  On the other hand do not wait until the last minute to find a place.  The approval process can take up to 5 business days depending on the property management/listing agent.

4.  Pay your debts!

    If you owe any debts to any apartment complexes or past landlords, this is the time to pay them.  Any thorough agent or property management will do their research and make sure you do not owe anybody in your past rental history.  Pay your rental debts!

5.  Start gathering

    As you begin to search properties with you agent start to gather important information you will need to be approved.  The biggest things are funds, pay stubs and ID's.  The funds are very important and need to accompany any application to be excepted.  The funds needed are the security deposit (usually in the amount of the rent being paid) and application fee (per person and usually around $50 bucks).  You will also need to gather you pay stubs.  Usually 1 month of current pays stubs will be sufficient but sometimes farther back is needed.  The last and usually the easiest is copies of your ID's.  This can usually be done by taking a good close-up picture from your smart phone and sending it to your agent.

If you follow these 5 steps you will have a greater success in finding the place you really want.  It is all very straight forward but you would be surprised how many people do not follow these steps and then have issues being approved for a lease.  My last note for the leasing process would be if you have bad/struggling credit be prepared to put down more on the security deposit.  This amount is completely up to the landlord/management company and can be from 1.5-2 times the amount.  All that being said most properties can be leased with good rental history, sufficient income (3X the rent) and the normal security deposit.

Good luck!

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Phone: 512-380-1823
Dated: August 28th 2015
Views: 155
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