Rental Process & Tips

Basic process to renting a single family residence, condo, or townhouse

Its common practice for landlords to pay for your Realtor's service. As a tenant, you should always try to hire one. As a seller, you should understand the difference between hiring a property manager or a Realtor. Then select which service best fits your financial & emotional your needs.

Lease Preparation

Orange County's rental market is much more competitive then most. Which is why I recommend filling out forms and gathering information that landlords require and use to decide whether or not you're qualified to lease their real estate. Most tenants spend time shopping for the perfect rental before tackling their paperwork. Well, once they find a rental they're interested in, they must scramble to complete paperwork for the landlord. This can be especially difficult when dealing with groups of individuals. Get your paperwork done and out of the way first to eliminate competition, give yourself the ability to act quickly and set a better first impression with landlords.

Searching for Rentals

While shopping for rental property, remember that it is a rental! Its natural for residence to have an emotional attachment to the place they live. Try not to make it a financial attachment as well. Simple fix up projects, such as painting a room & changing window treatments may be fine if your landlord permits it. However, don't get caught up with the idea that the home is yours. Your already making the landlords mortgage payment for them. There is no need to remodel the kitchen and add on to the master bedroom as well. As a landlord, tenants are often willing to pay for or split the cost of improvements to your real estate. Take advantage of this whenever it makes financial sense.

Applying & Negotiating

The process is usually quite quick and most of the time, its only held up if the landlord has multiple tenants to choose from. As a landlord, be sure that you understand the Fair Housing Act. Money has a funny way of clouding financial decisions. Price & terms are negotiable in a lease like most things in life. The stronger your credit, income, stability & ability to submit in an organized fashion will improve your chances of obtaining a lease a possible discounting rent and/or receiving favorable terms.

Lease is Accepted

The standard move in cost is a full month of rent and security deposit equal to a months rent. Additional pet deposits & such may be included as well. These monies are usually required to be either cashiers check or money order & due on or before the move in date.

Move In

Congratulations! As a tenant, be sure to pay rent, any other costs on time & abide by lease rules & terms. Failure to do so may result in the canceling of your lease, restrictions or financial penalties. Any existing damage to the home should be addressed, documented and acknowledged by the landlord immediately after or prior to move in.