Searching for the perfect rental home can be a daunting task, but fear not! In this comprehensive guide, we will walk you through the process step by step, ensuring that you have all the information you need to find your ideal living space. Whether you are a first-time renter, a seasoned tenant looking for a new place, or looking for something seasonal and under a 1 year lease, this guide is designed to provide valuable insights and practical tips to make your search a success. Let's dive in and discover the keys to finding your dream rental home!
Begin by following the detailed instructions for renting your ideal home and making the process more efficient!
1. Contact a Real Estate Agent
Contacting a real estate agent to help with the process is a great idea. Your agent can assist in finding a property, speaking with the landlord, asking any pertinent questions, and walking you through the application and lease agreement. Most of the time, the real estate agent is paid their professional service fee by the landlord so it is usually (but not always) at no cost to you.
If you are considering renting a property that belongs to a Homeowners Association, the process is even more involved with another application to complete and fees going to the HOA. This is when a real estate agent is really important to assist with deadlines and paperwork.
The first question to ask the agent is if they are experienced in rentals. Some real estate agents specialize in certain areas. Having an agent that has experience in rental properties is more important than you think. The process of renting vs. buying vs. selling homes are quite different.
Communication is key! If you begin to work with an agent and they are not responding or you are having difficulty communicating, it is time to look elsewhere.
Your agent should begin the process with asking you a ton of questions! They will need to know exactly what you are looking for in order to make the process easier.
Examples of questions your agent will ask:
What is your budget? Landlords typically want to see that you have 2 1/2 -3 times the monthly rent.
What is your credit score? If you do not know your exact credit score, you can obtain it for free at www.creditkarma.com.
Do you have first months rent, last months rent, and a security deposit? This is the standard amount required although some landlords can vary
How many bedrooms and bathrooms do you need? Garage or parking space?
What city, area, neighborhood do you want to live in? Do you need to be close to work, schools, highways, etc?
Do you have any pets? How many? What breed are they? How much do they weigh?
Do you prefer to have a pool, fence, patio, or any other specific requirements?
How many people will be residing in the property? Any person residing in the property over the age of 18 usually has to fill out an application and be on the lease agreement.
2. Searching for Rentals
Automated Search: Your agent should now set up an automated search that goes directly to your email. All of the information that you previously discussed will be entered into the search. This will help narrow down and weed out any properties that do not suit your needs. If your agent has notified you that the search is set up, check your email, and be sure to look in your spam or junk folder if you do not see it at first.
Inform Agent of all Interested Properties: When you see any properties that you like, send them to your agent so they can check if it meets all of your requirements. Agents are members of the MLS and can view more detailed aspects than a regular individual. They will also contact the listing agent or homeowner and find out any pertinent information regarding the property.
3. Prepare Necessary Documentation
Proof of Income: Pay stubs, tax returns, bank statements, or a letter from your employer.
Credit Report: Obtain a copy of your credit report to provide to landlords. If you do not know your exact credit score, you can obtain it for free at www.creditkarma.com
References: Previous landlords or personal references.
Identification: Valid photo ID, such as a driver’s license or passport.
Picture of Pets: Some landlords may request pet vaccination records but mostly they just want confirmation that the pet is what you say it is.
4. Take a Tour with your Agent on Potential Rentals
Set up appointments: Your agent should set up appointments that align with your schedule. They will need to notify the listing agents or homeowners and coordinate all schedules to make it as efficient as possible. .
Virtual Tours: If you are out of state or the area, then a virtual tour or video can be done by the agent so you can get a good viewing of the actual property. We do not recommend relying on pictures alone.
Inspect the Property: Check for any damage, functionality of appliances, water pressure, and overall cleanliness.
Ask Questions: Inquire about lease terms, utilities, maintenance responsibilities, and any other concerns.
5. Secure the Rental
Submit an Application: Provide all required documentation and complete any forms. We personally recommend using RentSpree.com for the application process. You can download any documentation needed along with a reference, background, and credit check all in one place. However, It is up to to the landlord on what application they accept. RentSpree is easy and the application goes directly to your agent for review. It streamlines the entire process exponentially.
Submit a Contract to Lease: I like to call this the Offer to Lease. Essentially it is a written contract making an offer to lease the property. It is usually a short 2 page contract that your real estate agent completes and you will sign. It lists all of the terms you are willing to offer the landlord to rent their home. The agent will then send this to the landlord/listing agent for them to review. The landlord can sign and accept the terms or continue to negotiate. *This is NOT the lease agreement.
Pay Application Fees: Be aware of any fees associated with the application process and fees for the HOA application if necessary. These fees should be included on the rental listing so there are no surprises.
Security Deposit: Be prepared to pay a security deposit, typically equal to one month’s rent. This will hold the property until the rest of the monies are due before moving in.
6. Understand the Lease Agreement
Read Thoroughly: Ensure you understand all terms and conditions.
Clarify Policies: Understand policies on rent payment, maintenance, renewals, and early termination.
Sign the Lease Agreement: After you have read the lease in its entirety and asked all questions, then you can sign the lease agreement.
7. Submit the HOA Application
Request and Read the Rules & Regulations of the HOA: Homeowner Associations are extremely common in Florida. The rules and regulations should be read thoroughly before submitting the application. You want to be sure your vehicles, pets, and any other rules are consistent with your lifestyle.
Submit the Application: Applications for the HOA are usually submitted at least 2-3 weeks before move in. The lease must already be signed and submitted with your application. There should be clear and concise instructions along with the application.
Pay Application Fees: HOA's require an application fee for processing.
8. Finalize the Move
Pay Remaining Monies Due: Pay any remaining money due. Typically, at this point you have already paid the security deposit at the signing of the lease. First months rent, Last months rent, Cleaning Fees, and Pet deposits must be paid before move in.
Arrange Utilities: Set up electricity, water, internet, and other necessary services.
Move-in Inspection: Document the condition of the property upon move-in to avoid disputes later. We advise the landlord and the tenant to take photos and video of the property before move in.
9. Moving Day
Plan the Move: Hire movers or rent a truck if needed. Some HOA;s do not allow moving trucks on Sundays so plan accordingly.
Settle In: Unpack and arrange your new home.
Introduce Yourself: Meet your neighbors and familiarize yourself with the community.
10. Post-Move
Maintain the Property: Keep the rental in good condition.
Stay Informed: Be aware of lease renewal dates and any changes in terms.
Build a Relationship: Maintain a good relationship with your landlord or property manager.
By following these steps, you can ensure a smooth process in finding and securing a rental home that suits your needs. We are experienced agents in listing rental properties and representing tenants. I hope you enjoyed our rental guide and this helps in your search!
The Maples Group
Laura and Ryan Maples
772-783-2585
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