The rules of the game for leasing residential property in Houston/Katy area
We are assisting an increasing number of people in locating residential lease property. Here are some guidelines to keep in mind.
All owners/landlords look at different things so there is no surefire method for submitting a "the place is mind' application.
1 .Before you get to me (Realtor) pull your free credit report and determine if there are any issues that need to be addressed. Such as; these are not my charges, I never lived there, I paid that off, I was never evicted.... Come to the meeting with your report.
2. You must complete a Lease Agreement Application for all occupants over the age of 18, no exceptions.
3. Application fees are ranging from approximately $25 to $75, so have money available in cash. The fee amount can be per person or a combination for married couples.
4. You will need clear copies of your driver's license and/or social security card. ( Many properties run a background check in addition to credit.)
5. Any proof of income you are claiming, ie. Child support, disability, SSI,VA, etc
6. Proof of rental history (some owners perfer to have their representative obtain this information. Just be aware and make sure your landlord know they maybe contacted.)
7. Information on your pet: breed, weight, a picture would be helpful.
8. If your credit is seriously challenged you may be asked to pay a double deposit, be prepared..
9. Look at homes you can afford. Some landlords require that your income is 3-5x the rental amount.
Do not expect a discount on the rent, as this is the exception and not the rule right now. The Buyer market they speak of on the news are for home purchases and even then varies by area.
Most important, if you have situations you know are going to come up, let your agent know. Things like broken leases, owing a prior landlord money, foreclosure, pet issue, etc. Don't visit a propety without your agent or give money to just anyone who asks, thinking you are going to work out some kind of deal. Remember the agent is your advocate.
All success to you