Thank you for reaching out to me to assist you in your New Jersey housing search. I look forward to helping you in any way I can.
Before we begin, I'd like to explain a little about the process and set some expectations. I want to ensure there are no 'surprises' when we find you a place and you are ready to sign your lease. Please read this in its entirety. Fair enough? Good... let's go
So... why do I need your name, address, phone number, email address, etc?
This makes the process easier for both of us. I can put you in my database and put on automatic searches, so when something in your area and price range (and other parameters we set) comes to market you will get notified right away. (I also do manual searches daily) Plus, I will need this information when we fill out the lease. The landlord needs to know who he is renting to and how to contact them..
When I send you a place you like and if you don't know the area, my recommendation is to go to Google Maps (or maps of your choice) and do a little tour of the street and area. Does the area fit your needs? Parks? Shopping? Mass Transit? etc...
If everything seems good to you (from this cursory overview), let me know it's a property you want to see. I'll make sure it's still available to rent (as good places are still going fast at this point) and try to set an appointment that is convenient for you to view the inside.
Once we see it, and if you like it, we will start the process of trying to get the lease, then review it. (It is always recommended to have your attorney look over the lease. I am NOT an attorney and cannot give legal advice!
What do you need when we submit a lease application?
When we submit a lease application to the other agent/or landlord, this does NOT mean you got the apartment, this just denotes your interest in renting the apartment. Along with the lease application, you may need to get a credit check (that you may or may not have to pay for) from a provider that the landlord accepts. (usually a company called NTN, but there are others) We may be able to submit a credit report (which you can get for free from one of the credit bureaus. (just reach out to me and I'll tell you where to get it!) You will also need proof of income from any legal source, and possibly a bank statement. Some landlords might also conduct an interview
What do you need to bring at the signing of the lease?
At the lease signing you will need an approved form of identification.
You will also need to bring a bank check or Money Order...
How much? Well, it obviously depends on how much the rent is.
Let's look at an example, and you can adjust it to your specific situation..
EXAMPLE:
Apartment rents for $2000.00/month
One and a half month's security deposit $3000.00 (this is held in an interest bearing account, and you will get this money back at the end of the lease, if the apartment suffered no damage)
REALTOR fee... usually one month's rent, in this particular case $2000.00
PLEASE NOTE: This fee is NOT determined by me (none of these fees are determined by me!) Any renter of this apartment would need to pay this fee whether they use me as their REALTOR, or any other REALTOR. Sometimes, on rare occasions, this fee is paid by the landlord, in full or in part, (usually on hard to rent places) and I will let you know if that is the case on a property you are interested in.
Also note: I don't get paid unless I find you a place and you successfully rent it. I call it a 'performance fee', when I perform, I get paid. If someone asks you for money before you signing a lease, be very wary, it might be a scammer! (Also note: You might be asked to pay for background and credit checks, that is a normal fee, and goes to the credit checking company, and not to a REALTOR or landlord... you should not encounter any 'application fees') If you have questions, give me a call!
So in the example above, you would need to have a bank check or money order for $7000.00.
Here is the breakdown again:
1st month rent: 2000.00
1.5 months security: 3000.00
Realtor Fee: 2000.00
TOTAL: $7000.00 (for this example)
It seems like a lot... but let me break it down for you a little bit more...
$5000.00 of that is 'your' money.. the security deposit (you get that back at the end of the lease term if the apartment is in the same condition as when you rented it), and first month's rent. The Realtor fee, gets split between the the listing agent, and the agent representing the new tenant. (Just FYI, if you went directly to the listing agent, you would still pay the FULL fee! Plus, you don't want to do that because they work for the landlord, and not you) Then, out of that 'half', Uncle Sam takes his third cut, then each agents broker takes a cut, which could be from 10-20% all the way up to 50% in some cases! That leaves (conservatively) about $350.00 to the realtor to pay for health insurance, their rent/mortgage, realtor fees, driving around to show you places and writing up applications and leases, car and insurance, food and necessities, and hopefully some savings for the future. It's definitely worth it to have someone looking out for you and with your best interests in mind. And to help you avoid being scammed.
I just like to be totally upfront and transparent on the investments involved, so there are no surprises.
If you decide not to use a Realtor, please see this article I wrote on how to avoid rental scams:
