The ABC’s of Renting…Take a deep breath and prepare to jump a lot of hurdles.
A) GOOD CREDIT SCORE- Credit and background screening is required for each adult member on the lease.
B) CASH – In most cases total move-in costs add up to a lot of money.
Some of those costs* include:
-Credit and background screening application fees
-First Month Rent
-Last Month Rent
-Security Deposit equivalent to one-month rent
*If moving to a Condominium expect to pay:
-Home Owners Association application fees (One per adult)
-Building Security Deposit (Up to one-month rent.)
-Moving Security Deposit (Refundable after move)
-Moving Service Fee (To prep elevators, etc.)
C) PERSEVERANCE – Tight inventory makes it challenging to find the property that meets a person’s needs, preferences, and budget.
One thing is for sure, these days leasing is as stressful as buying. I guess that’s why some real estate agents don’t want to work on rentals; it’s not as profitable as selling, and requires the same amount of work and attention. I happen to enjoy the work, my philosophy is that it’s not what you do, but how you do it that brings joy to life. In my case it has proven true, working with rental clients has brought a lot of joy, initiated great relationships, and developed meaningful friendships. Then again, I’m fortunate; my clients always turn out to be absolutely fabulous and amazing people!