01/08/2019
January 8, 2019
Today's Real Estate "Question of the Day":
Q:
I am a first time renter. How much is it going to cost me to move into a nice rental home? What Should I know before moving in?
A:
I would love to help guide you on your path to independence. Renting a home for the first time can be scary.
First, you will need to check your credit score, because the owner/manager of any home you desire to rent will do so.
A score under 620 means you may not be accepted as a renter, or that you may have to pay a DOUBLE deposit.
What is the regular deposit for a rental home in Houston?
On the usual, the deposit for a home is equal to the rent.
Application fees are usually either $45 or $50 per person age 18 who will live in the home.
Yes, every person over 18 who will live in the rental must complete an application and pay the application fee to live in the home.
Application fees are non-refundable.
If your application(s) is accepted, you will need to put down a deposit (again, usually equal to the rent) in order to hold the home for yourself.
NOTE: If someone else also applies and they pay the deposit BEFORE you do (even if you applied first), chances are the first one who qualifies AND LEAVES THE DEPOSIT is the one who will be awarded the lease to the rental home.
So, that means HAVE YOUR DEPOSIT MONEY READY BEFORE YOU EVEN APPLY, SO YOU CAN LAY IT DOWN QUICKLY TO HOLD THE HOUSE!
Next, you will sign an official contract to state you are going to move into the house, the move-in date, the rental cost, and all legal details of the rental are in the contract. BE SURE TO READ EVERY WORD AND ASK QUESTIONS ABOUT ANY WORD OR TERMS YOU DON'T UNDERSTAND (ASK YOUR REAL ESTATE AGENT)!
WHICH BRINGS ME TO THIS - ALWAYS, ALWAYS USE A REAL ESTATE AGENT ON YOUR CLIENT SIDE TO RENT A HOME. THE AGENT LISTING THE RENTAL WORKS FOR THE OWNER OF THE HOUSE - NOT YOU!
The Owner's Agent is NOT YOUR AGENT (NOT legally obligated to do anything useful for you, just facilitate the rental of the property.)
ALWAYS have an agent on YOUR SIDE!
ON THE DAY YOU ARE CONTRACTED TO MOVE IN, YOU MUST PAY THE FIRST MONTH'S RENT, and then you wll get keys to the home.
(Do not lose the keys - high replacement fees!)
NOTE: If you don't have the rent by the contract start date, the owner could negate your contract and give the rental home to the next applicant. You'd be stuck out!
Upon move in, the first step is to survey the home and make sure all is as you were promised/thought it would be.
Address any issues or disappointments IMMEDIATELY with the owner/manager - on the day of Move In.
Also, fill out the official Texas "Move In and Condition Form", noting any and all items missing/not working correctly upon move-in (so you won't be blamed for them later).
Sign, Date and send the Move In Condition Form to the owner/manager within 72 hours.
Also keep a copy for yourself!
Now, ENJOY YOUR NEW RENTAL HOME!
But, remember, don't undo, remodel or uninstall anything that can't easily be put back like it was when you moved in.
Blessings to you in your new Rental Home!
Paula R. Wiley 281-849-4319
www.PaulaSellsTexasHomes.com
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