FAQ
Frequently Asked Questions
For Application
$150 for each individual
(In order for us to accept your application, a credit or debit card must be on file. However, unless you have given our office verbal consent to move forward with your application, the credit card will not be charged.)
Every person who will be residing on the property who is older than eighteen must be vetted.
In the last three years, the following felonies have been committed:
Credit History, Criminal History, Eviction, and Rental History
History of Employment and Income
Children's academic standing
The following felonies occurred within the last five to seven years:
Battery Theft Firearm Control Molestation and Substance Prostitution
filed for eviction within the last five to seven years.
Decisions
unpaid utility bills.
Verification of employment establishes the tenant's ability to pay for the rental unit.
At least two to three times the monthly rent must be earned by the potential tenant.
Prospective tenants who work for themselves must submit the "Request for Transcript of Tax Return" tax form.
Three months' worth of bank statements or one month's worth of check stubs
stable work history
Two years of steady work
must have worked there for a minimum of six months.
An formal letter of offer (if recently hired)
A filled-out Employment Verification Form
To confirm your employment status, position, and income, we will get in touch with your company directly. Please make sure the contact details for your employer are correct and current on your application.
Information on rent payments and living conditions is sent to the landlord or landlord's agent through housing verification.
Children over five are currently in good academic standing at their current school, as demonstrated by their most recent report card and/or transcript.
For Tenants
What you agree to in the lease will determine this.
only with the owner's or management's consent.
No, electronic means are used to collect rent.
For Owners
It gives you more time to engage in enjoyable activities. lessens the stress that comes with worrying about issues at the property.
You have the option to ban smoking and pets. But you have to turn everyone away. Due to the Fair Housing Act of 1968, you are not allowed to exclude family, children, economic source, and other factors. Discrimination in the rental or sale of housing, including against those applying for housing aid or a mortgage, as well as in other housing-related activities, is prohibited. Discrimination on the basis of race, colour, national origin, religion, sex, family status, and disability is illegal under the Fair Housing Act.
They will be notified five days in advance and asked to pay within that time frame. The procedure of eviction may start if they don't pay.
Unless it is a weekend or holiday, all owner disbursements are made by the fifteenth day of the month. Three business days will pass before it appears in your account.
Yes, you have the chance to read over each lease before signing it.
If a tenant damages the property, your sole recourse is to sue them for further damages and withhold their security deposit. You can make an insurance claim if they are excessive.
You have the right to sue the tenant for the balance of the lease if they leave before the lease expires.
It depends on what you, the landlord, want the renter to pay. For instance, they can pay the first month's rent plus the security deposit, the first, last, and security deposit, or you don't need to get the security deposit.
The security deposit is held by the owner.
No, if your property is under our management. Section 8 is the only rent that we agree you can collect personally.
The property must be livable in order to be rented. We usually question our clients if they would live here if this is all they could afford to pay for rent. If you said no, it also signifies that the kind of tenant you are seeking won't be able to reside here.
as long as the prospective tenant and you agree on the lease length. They only permit one- or two-year leases, with the exception of Section 8.
For Tenants
The first stage in the purchasing procedure is obtaining a pre-approval. This will affect your down payment and closing costs, as well as how much and what kind of funding you are accepted for. It also shows that you are a serious buyer.
A FICO score of 620 or above is typically required for the majority of credit programs. A lower down payment and a better interest rate are frequently the outcomes of having a higher credit score because it shows the lender that you pose less risk.
Eleven percent is the national average for down payments. A first-time purchaser often makes a 3–5% down payment. A 3.5% down payment is required for a Federal Housing Authority loan. According to certain programs, gifts from friends and/or family are permitted. There is no down payment required for USDA and Veteran Affair loans. Only active or retired military personnel are eligible for VA loans. Only low-to-middle-income purchasers in rural areas that qualify for USDA financing are eligible. A 20% down payment is required for conventional loans. Usually, repeat buyers who can use equity from their previous house as a source of down payment cash take out these kinds of loans.
USDA, Cash, VA, FHA, and Conventional.
It's up to you. Before making a buying offer, we only advise you to view the house.
It truly depends on you finding a house in which you are truly interested, putting in an offer, and having that offer approved. From beginning to end, it can take ten to twelve weeks.
Your agent will want a cheque (usually 1% to 2% of the buying price) to be sent with your bid on a house. In order to show the vendor that you are truly interested, earnest money is given in good faith. The house will be taken off the market for earnest money. The earnest money is used for the down payment and closing charges if a transaction is reached. The buyer receives their money back if the transaction fails. Important information: The buyer may not receive their earnest money back if the conditions of the agreement are accepted by both parties and then back out.
This happens when demand is decreased due to falling property prices. This could be caused by a number of variables, including large inventory, a brief decline in interest rates, and increased interest rates.
The seller's response time is usually specified in written offers. It should be enough to give them a day to reply.
Although sellers have the option to simply accept or reject an initial offer, they typically start by making a counteroffer. To find out if it's okay, you and your agent will review. If so, accepting it will move you one step closer to completing the transaction.
Typically, the realtor is not paid by the home buyer. Typically, there are two distinct realtors—one for the buyer and one for the seller. The listing brokers who market the property and act as the seller's representatives charge a fee. The selling broker compensates the buyer's agent for bringing the house buyer to the table. The listing broker and the buyer's agent divide the listing fee when the property is sold.
To start the search, the buyer's agent could charge a fee. The buyer may never buy any of the properties the buying agent shows them.
Indeed. If you want to finance your house with a VA or FHA loan, you must have a home inspection. Although they are not necessary for other mortgage programs, they are strongly advised in order to identify any flaws in the house.
Although it is not necessary, doing so is highly recommended. The buyer might use this opportunity to confirm that nothing has changed since their last visit. A follow-up visit guarantees that everything was fixed in accordance with the conditions of the contract, if repairs were required as part of the offer.
For Owners
Price increases correspond with an increase in demand for purchases. This is caused by a number of variables, including insufficient inventory, a brief increase in interest rates, and declining interest rates.
Since each real estate market is unique, the ideal time to sell a house will vary from community to town. Generally speaking, the greatest time to sell a house is in the warmer months, such spring, summer or autumn.
Before marketing your house, make sure there is as little clutter as possible, paint, lay new carpet, clean and check for odours.
It's crucial that you tell prospective buyers about everything you know about your house. It's always preferable to be direct and honest. If you are aware of flaws, it is advisable to repair them before putting the product on the market. Once your house is under contract, following inspections, and even years after you have sold it, doing this could help you prevent any problems and/or litigation.
Realtors employ a few different techniques to assess a home's worth. The most popular approach is to finish a comparative market study. This is a thorough analysis of "comparable" homes that have sold during the last six to twelve months.
Although commission is negotiable, the adage "you get what you pay for" applies. It is very rare that a realtor will aggressively negotiate on your behalf when it comes to the price if they offer a smaller commission.
Ascertaining that the home's value is at least what the buyer and seller agree upon is the bank appraiser's job. There are several options if an appraiser finds that the property's value is less than the agreed-upon purchase price. For example, the seller may make a concession, agreeing to sell the house for the appraiser's determined acceptable price.
The abstract and title search, instrument survey, real estate commission, and transfer taxes are typically included in closing costs for house sellers.
The seller is in charge of deciding whether to include appliances or make them negotiable. They don't make the house significantly more valuable.
via social media, the firm website, posters, and the MLS.
